Project Description

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financial services

by Leena Iyar on February 26, 2016


BRIEF financial services

an exploration of mobile tech’s impact on financial services


The widespread adoption of mobile technology is rapidly shifting the demands of customers in the financial services industry. As a result, financial services companies must adapt intelligently to meet the changing market needs. An examination of how mobile technology has impacted financial services reveals ways in which financial services firms can gain key competitive advantages and grow their customer bases.

Historically, the financial services industry has been slow to adopt new technology. According to Bain & Company, several factors contribute to the lethargic pace of technological innovation in finance including “rapidly increasing volumes of business and regulatory demands, a growing need to support complex business processes and products, inflexible legacy systems architectures, onerous internal processes, and talent limitations.” However, the accelerated growth of mobile technology in the last few years  has sparked and driven the need to modernize industry. Customers now demand engagement with their finances at all times from anywhere in the world through their mobile devices. While most financial institutions now provide mobile applications to check balances, trade securities, and deposit checks, amongst other actions, there is still plenty of space and a need for more innovation. By proactively pursuing new technologies to enhance customer experiences, financial services firms can differentiate themselves from their competitors to gain strategic advantages.

To modernize, most financial institutions do not have the ability to throw out their existing software and start from scratch. In many cases, legacy software, while frustrating, provides the stability and security required in financial services. Consequently, any technology solution must integrate seamlessly with the existing infrastructure and must balance innovation with the needs for security and regulatory compliance.


Moxtra can help financial firms leverage the full power of mobile technology by integrating real-time communication and collaboration into their web and mobile applications. By using our enterprise-grade SDKs and APIs, businesses can significantly boost customer engagement and power their applications for a mobile-centric world.

Integrating Moxtra gives financial institutions the ability to connect with their clients (or internally within the company) through the most comprehensive set of collaboration capabilities in a mobile-first platform. For instance, employees can launch powerful real-time meetings that support screen sharing, whiteboarding, content sharing, and rich annotations over content to solve problems and answer questions far more effectively than a phone call. Additionally, parties can also collaborate asynchronously using Moxtra’s embeddable messenger that supports the sharing and annotating of content without compromising on security. Moxtra also provides task management and document collaboration capabilities. Companies can completely tailor their collaboration experience to their needs by mixing and matching SDKs and APIs.

Perhaps most importantly, financial institutions do not need to change their infrastructure to incorporate Moxtra as our SDKs and APIs integrate seamlessly with pre-existing solutions. Our software supports dozens of popular integrations and fits on top of any software, making the implementation process easy and quick.


Global banks and asset management firms continually strive to provide the best possible private wealth management services for their valued clients in order to expand their high net worth customer base. Integrating Moxtra’s SDKs and APIs can significantly improve a private client’s customer experience while increasing efficiency and scalability on the firm’s side.

Banks and asset managers often struggle to sufficiently meet the needs of all of their valued customers since it requires large amounts of face-to-face interaction, which in turn results in a greater number of employees to manage the interactions and be available at all times. However, integrating Moxtra’s real-time meeting SDK into the platform, reduces the need for these live interactions as everything that can be accomplished in-person can be conducted through a real-time web conference. Participants can connect from anywhere in the world using personal computers, tablets, or mobile phones and can collaborate over documents digitally, just as they would in person. A complete customer service experience can be delivered to private clients whenever or wherever they require it.

There is substantial value created for clients as they can access private client services at their convenience. By integrating features that meaningfully enhance the customer’s experience, banks can attract more private wealth clients while retaining the existing ones.

On the company’s side, creating a customer representative team to manage the omni-channel banking experience remotely improves efficiency by reducing overhead, enabling paperless collaboration, and expanding the branch’s customer network with a smaller team. This more dynamic structure gives banks the ability to serve more clients at a faster rate, with fewer costs.

Using Moxtra will meaningfully improve the private wealth management process for both employees and their clients. A happy customer base along with increased efficiency can lead to increased growth and profitability for the firm.