Bloomberg overhauls tablet app as BYOD gains grip on large trading firms

Bloomberg has overhauled its iPad app for its Bloomberg Anywhere service, aimed at boosting the adoption of mobile computing among large trading firms.

The release of the new iPad app is available to customers using the $20,000 (£13,091) per year Bloomberg Anywhere subscription service. Up until now the iPad version of the app, first released two years ago, has essentially been a scaled up version of Bloomberg's smartphone app, with four screens fitted onto the larger tablet screen.  The new app will allow more detailed information to be viewed with in-depth technical analysis and the ability to do comparisons on stock price charts.  There will also be access to in-house retail analyst data, including Bloomberg Industries real time research and analytics platform.

Bloomberg has 200,000 of its 300,000 customers using the Bloomberg Anywhere service.  38,000 currently access the service through the iPad app.

John Waanders, head of Bloomberg Anywhere Mobile said that there is still substantial scope for increasing the number of mobile PC users among financial sector professionals.

“There are areas of our industry where users are particularly mobile. Portfolio managers or investment bankers have a tendency to be away from their desk 50 or 60 percent of the time,” he said. “Those guys have traditionally found it difficult to justify paying $20,000 for a system that only runs on their desktop. That is also a high price to pay for a BlackBerry app. Now we have got something that falls in between.”

Waanders said that although use of corporate tablets has been largely restricted to top level staff, as in most enterprises, bring your own device trends mean that wider uptake of mobile computing devices among traders is occurring.

However uptake has been slower among larger sell side firms, which have remained more concerned over factors such as compliance.

“There is still a tremendous fear of things in some larger enterprises about compliance related problems. There have been policies against using anything but BlackBerrys because of the perception of security,” he said.

“The smaller organisations tend to be leading the technology curve. The larger organisations are starting to implement BYOD policies and we are starting to see those get adopted more and more. Buy side traders are rapidly adopting technology like this, where the larger sell side guys area little slower."

Copyright © 2013 IDG Communications, Inc.

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