When it comes to mobile investing apps, US and Canadian online adults rely heavily on their smartphones to access and manage their accounts. In this digital age, having a well-designed mobile app is no longer a nice-to-have, but a must-have for any serious player in the financial industry. To identify the best practices in mobile investing app development, we analyzed 12 North American apps that cater to self-directed investors. Our comprehensive report, The Forrester Digital Experience Review: US And Canada Mobile Investing Apps, 2022, provides valuable insights into what sets the winners apart from the rest.
Top-Notch Digital Functionality: A Key Differentiator
One app that stands out for its exceptional digital functionality is Fidelity Investments. Their mobile app excels in providing users with robust securities research tools, including interactive charting abilities and extensive market commentary via videos, podcasts, and articles. This level of sophistication sets a high bar for other apps to follow.
Innovative Learning Features: A Game-Changer
TD Canada's mobile app takes the lead in offering an impressive library of learning topics that cater to all levels of investors. Their Learn to Invest portal includes modules on specific investing themes, such as taxes or year-end strategies, with new videos uploaded regularly. What's more, they provide daily master classes and live webinars that allow users to ask investing education professionals questions in real-time. This level of engagement is a major draw for investors seeking to educate themselves.
Screeners and Educational Content: The Secret Sauce
When it comes to helping customers identify investment opportunities, some apps truly excel. Our usability study found that only 25% of participants were able to find a bond with a certain yield. However, leading apps like Vanguard and E-TRADE have taken this to the next level by including screeners within their mobile app, allowing users to filter securities based on their unique criteria. Additionally, they embed educational content in research screens, providing users with valuable insights before making an investment decision.
For digital business strategy leaders looking to measure progress and identify areas for improvement in their customers' digital journeys, we have created The Forrester Mobile Investing App Functionality Assessment Tool. This Excel-based tool provides a comprehensive framework for assessing the quality of your app offerings versus our criteria. By using this tool, you can gain valuable insights into your app's strengths and weaknesses.
Target Keyword: app startup ideas