Financial Technology

Financial Technology

November 08, 2011

CIBC in Pact with Kony Solutions to Launch Mobile Brokerage Application in Canada

Kony Solutions, a mobile application platform provider, announced that CIBC, a North American financial institution, selected the company to develop and deploy its mobile brokerage app, released in July on iPhone (News - Alert), BlackBerry, and Android devices. 

Utilizing CIBC Mobile Brokerage app, clients will be able to receive up-to-date market information for real-time quotes, portfolio monitoring, and more.

“We are excited to be the first bank in Canada to deliver a mobile stock trading App to Canadian investors through our new CIBC Mobile Brokerage App,” said Michael Martin, senior vice-president, Alternate Channels, CIBC, in a statement

“Investors will now be able to receive market information and make trades in real-time through their mobile device, without having to get to their computer. We know from research that there is huge demand for the benefits that this app will provide. It will change the investing landscape across Canada,” Martin added.

CIBC is offering the Mobile Brokerage app to clients using iPhone, BlackBerry, or Android (News - Alert) device. Its features enable customers to meet the growing demand from Canadians to have access to their finances while on the go, according to company officials.

Customers can buy and sell stocks; view cash and margin balances, book values, and market values for individual account holdings; search for stocks and transfer cash between your CIBC brokerage and bank accounts; view market indices, commodities and exchange rate information and get quick quotes on stock prices.

“In addition to providing financial companies with our open and extensible mobile platform, we also offer a customizable vertical application built on best practices, specifically for mobile financial services, providing off-the-shelf functionality that lets companies reach their customers and employees on any device, operating system or browser,” said Raj Koneru, CEO of Kony, in a statement.

Recently, Kony announced its agreement to develop and deploy Scottrade’s mobile application. The new app will be based on the Kony platform that features support for all mobile operating systems and functionalities.

Rajani Baburajan is a contributing editor for TMCnet. To read more of Rajani's articles, please visit her columnist page.

Edited by Jennifer Russell

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