Pershing Previews Next Gen NetX360 Mobile App

With over one billion smartphones in use and estimates that there will be two billion by 2014, companies of all shapes and sizes are looking to improve mobile capabilities.

"Almost every consumer, investor and advisor is connected," said Ram Nagappan, chief information officer of Pershing LLC in an interview with Wall Street & Technology. "We have been on top of mobile technology for years, but this announcement is the next generation."

Pershing LLC, a BNY Mellon company, has announced its next generation of mobile technology for investment professionals. The NetX360 mobile app, designed for financial advisors, is a hybrid solution -- part native app and part HTML5, according to Nagappan. "The latest version of the NetX360 mobile app takes full advantage of the native features of the iPad and iPhone, while incorporating the best of web-based applications," he said.

The NetX360 mobile app, which is customizable for advisors, compliance professionals or support staff, makes use of the built-in cameras on most mobile phones and tablets, geolocation capabilities and integration with calendars, email and other features users commonly utilize on mobile devices, Nagappan said.

Netx360 will be initially available on iOS devices later this year, followed by Android and Microsoft devices. The app has been in development for approximately six months and has been through a couple of rounds of user experience testing already, Nagappan added.

"The Microsoft Surface Pro was specifically requested by a couple of firms," Nagappan said. "Right now Surface Pro usage is in the single digits, but there are a lot of PCs out there and many firms are on Microsoft." Currently, Nagappan says 80% of Peshing's mobile users are on iOS.

Pershing's new mobile solution for iPad and iPhone will include a simplified look and feel, with an intuitive, tile-like design. The app will take greater advantage of the iPad and iPhone touch capabilities. The application will also have integrated collaboration and self-service tools, including an "advisor meeting mode" to facilitate easier sharing of information with investors, the loading of portfolios, and device-to-device discussions between advisors and their clients. Finally, the app will have push notifications, allowing advisors to stay up-to-date with their accounts anywhere, anytime, so they can be more productive and service their clients more effectively, according to Pershing.

For instance, when it comes to collaboration, Nagappan says Pershing is demonstrating 10 different ways an advisor could use the NetX360 app to collaborate with clients. Pershing is previewing the new mobile app for investment professionals at its user conference, INSITE 2013 in Hollywood, Florida.

Pershing is also sensitive to the needs of some firms, who may want to white label, or brand, the mobile app with their own logos and colors. And, with security and many financial firm's BYOD policies in mind, the NetX360 mobile app is able to integrate with various mobile device management tools, such as Good Technology, Nagappan says. Greg MacSweeney is editorial director of InformationWeek Financial Services, whose brands include Wall Street & Technology, Bank Systems & Technology, Advanced Trading, and Insurance & Technology. View Full Bio