Independent Research Firm Recognizes Scivantage as Leader in Online Brokerage Platforms Again

Jersey City, NJ - 25 March 2013

Celent report highlights bank brokers as becoming increasingly engaged in the online channel

Scivantage®, an independent financial technology provider with proven expertise in online brokerage, tax and portfolio reporting and wealth management applications, today announced that Celent, an independent research and advisory firm, acknowledged the company as a leader in online brokerage technology. The report, “The Race for Self-Directed Investors,” highlights major developments in online trading among brokers and banks.

According to the report, the most commonly identified driver for bank brokers establishing, maintaining, or enhancing online investments operations remains client retention. As bank brokers continue to restructure their wealth management business to complement more nuanced segmentation and services models, online investing is a key pillar to these strategies.

“Currently, very few banks offer an integrated banking and brokerage experience,” says Alexander Camargo, Analyst, Celent and co-author of the report. “In order to differentiate their online brokerage offering, a unique branding and trading experience is vital. As online brokerages evaluate the build vs. buy method, few vendors have the brand/customization and customer support to service a large retail brokerage. Scivantage remains the preeminent online brokerage platform provider for the online brokerage market.”

Adding to the success of the multi-channel investment experience is mobile and social channels.

Among online brokers, mobile trades via mobile apps have more than doubled since the beginning of 2011, and have grown 50-70% from year-end 2011 to year-end 2012. By further integrating mobile banking and mobile brokerage, firms have a unique opportunity to differentiate oneself, cites Celent in the report.

The report went on to include that social media strategies will continue to mature and investors should expect to see more frequent customer service representative responses via third parties and videos. As investor sentiment turns away from professional advice towards peer driven content, and firms expand into new channels like mobile and social, the future of online brokerage will remain bright.

“For brokerage firms and banking institutions alike, continually improving the client investment experience is arguably the most essential element in gaining and maintaining a competitive edge,” said Joe Stensland, Executive Vice President, Scivantage. “In today’s world, a comprehensive digital strategy now requires a unified approach and an integrated view of online, mobile, and social community channels.”

The report was co-authored by Camargo and Isabella Fonseca, Research Director, Celent.

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development