By Derrick Brooks, Vice President of Digital Solutions
Barron’s recently released its 19th annual ranking of the best online brokers, and in the analysis the author, Theresa Carey, discusses important trends impacting our space. They include:
• The ever-increasing role of mobile technology in trading and
• The growing desire for personalization of the trading experience.
These trends, while they may not be new, are growing more prevalent and spurring innovation and the development of new products.
Mobile Trading More Than Doubled
We understand you’re not always going to be at your desk when a market opportunity strikes and that you need to access your account to seize those opportunities.
Since the launch of the Scottrade® Mobile app and iPad app, we have seen a phenomenal increase in mobile trading with activity jumping up 148 percent in first quarter 2014 compared to the same time last year, and we expect this trend to continue.
Through our mobile app, traders can connect to the market and access essential, relevant information on the right screen at the right time.
Traders’ mobile habits indicate that they seek different information depending on the device they’re using. For instance, while Account Overview is the most popular screen for both tablets and phones, iPad app users are also frequently checking Markets & News and Charts, while the mobile phone app users more commonly use Watch Lists and Quotes.
Keeping this in mind, we are working to enhance the applications to feature and organize the information our clients are seeking on each device so it best meets their needs.
Customization and Continual Updates
Whether working to enhance the intuitiveness and touchability of our mobile apps or implementing customizable charts and detailed quotes that include individual positions, we listen to your feedback and use it to prioritize which tools we build and bring the latest updates to market more quickly.
In order to make sure our offerings grow with your needs, we conduct extensive research, in-person focus groups and usability testing to help us understand what you want from a complete trading experience. This research is rooted in the ideas you share with us in branch offices, over the phone and through conversations online.
One of the key ways the digital team at Scottrade works to bring trends to life is an iterative development process and rollout schedule that enables quick, nimble and constant improvement. Simply put, we are driven by an unceasing desire to help you gain an edge on the market.
Derrick Brooks oversees Scottrade’s mobile and online strategy working to develop innovative, easy-to-use and engaging client tools.
What do you think the next trends will be?