Mazy Dar thinks trading apps should be like mobile phone apps.
“Think about what happens on phones, most users have an incredibly simple experience,” says the CEO of OpenFin which lets trading apps approach the user-friendliness of an iPhone. “Users download an app, the apps are simple and easy to use and all the apps on the phone work together. If you are in Calendar and tap Address, it opens Google Maps and you can order Uber. And you can share messages,” he said.
“You also have a layer of security around all of this. If I download an app on my phone, that app doesn’t automatically have access to my photos or my location. That is the simple experience everyone loves on the phone.”
By contrast financial desktop applications don’t have instant distribution.
“It can take months to deploy an app to a trader because banks and other financial firms put the app through security reviews and other testing to make sure it won’t do anything nefarious or malicious once it is installed on the desktop. But even after testing, once the app is installed, it has complete, unfettered access to all the other systems.”
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