The quest for connectivity between the working world and the digital experience
One of the recent additions to the mobile space is New York-based mobile research startup Scout Finance. Launched in December 2015, Scout provides wealth managers, advisors and retail investors with mobile access to company fundamental and financial data via their iOS mobile devices. Co-founder and CEO Vivek Nasta is one of a swelling number of industry figures disaffected with the monopolization of market data technology, who sees in mobile technology the opportunity to produce a simple, nimble solution for market professionals suffering from a current lack of choice.
“We’re a group of ex-Bloomberg and Thomson Reuters guys who saw first-hand that data is currently being presented to a customer in a very encyclopedic fashion,” Nasta explains. “Scout Finance provides access to the industry’s lifeblood—the fundamental financial data that we all look at as investors. We’re about freeing investors from the desktop and the seven-screen footprint, and saving them time, not impressing upon them every single piece of information that you can possibly imagine from the pricing of oil in Zimbabwe, to the price of platinum in South Africa.”
Nasta has some strong opinions on Bloomberg’s supposed failings in the mobile market. He claims the relationship investment professionals have with Bloomberg oscillates between love and hate. Speaking more specifically on Bloomberg’s mobile offering, Nasta claims that users are “tethered” to the terminals, and that the firm’s mobile offering does not replicate the desktop experience “in a live and friendly way.” Nasta continues: “This is a company that in the ’70s and ’80s cut its teeth on providing you with the most information possible in one package. So the notion of them providing a quick way of getting that information outside of that package is a scary thing for them. It’s just not in their DNA.”