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North American SnAppshot: Capital Markets and Wealth Management

Smartphones and tablets continue to dominate the business and technology headlines. Celent believes the strong double-digit growth of smart mobile devices will continue. Smart devices create an opportunity for financial institutions to reach their customers and prospects through a new electronic channel.

In a new report, North American SnAppshot: Capital Markets and Wealth Management, Celent explores some of the technology and business issues wealth management and capital market institutions face as they develop mobile applications for their customers. Celent estimates that more than 620 million smartphone units will be sold in 2012, and industry estimates predict that more than 100 million tablets will be sold this year.

There are multiple demand drivers for financial apps and the report examines the factors driving demand in capital markets and wealth management. This report also analyzes smartphone and tablet growth trends and operating system trends and how these trends are affecting app development.

"The number of smartphone and tablet users continues to grow, and users are becoming more dependent on these devices," says Bill Fearnley, Jr., Celent Senior Analyst and author of the report.

"Individual investors want access to their investments on their devices, and some of the leading wealth managers have released apps that give their clients any time, anywhere access to their investments. Professional investors want access to analyst research, and leading capital markets firms offer apps that provide access to analysts, traders, and portfolio managers," he adds.

In this report, Celent reviews some of the technology options available and offers recommendations for firms looking to release apps for their clients.