September 19, 2019

Mobility in Investment Banking: From Luxury to Necessity

Digital transformation is no longer confined to the terminals and desks of markets and banking professionals; mobility in investment banking is now an integral, becoming a part of the daily commute for professionals in the industry. A mobile-first mindset is perhaps more critical for an investment banker than any other profession in finance as they rely on the expectation of working from the backseat.

The Need for Mobility in Investment Banking

Investment bankers are constantly driving new business and building relationships on behalf of their clients. As such, they need to be up to speed on industry news and relevant developments at any of the companies they cover. It’s a challenging, 24/7 life. Their ability to work remotely and on the go is essential for effectively managing client initiatives, researching and collaborating on many deals, and generating new business. In the event of market shifts, bankers need to manage information punctually and ensure that the right people on the team are notified and informed in real-time. Ideas have a shelf life, and bankers need to work anywhere, anytime.

Before iPhones, Android devices, specialized investment banking software and other smart technology, bankers were confined to making calls, sending emails, and managing hundreds of interactions each day. Pens and a nice leather notebook helped track calls and follow-ups. It was time-consuming and inefficient. Communication and data could easily get lost. Collaboration was a challenge, and deals and revenue were the core focus. While they remain priorities today, concerns also surround client security, building relationships, sharing ideas and allocating resources.

Email and notebooks have become insufficient and nearly obsolete methods for storing the mounds of information and data that bankers produce and need to share. Thus, emerged the need for an investment banking CRM, a platform to consolidate all flows of information. As the pace of digitalization and demands for connectivity continued to increase, traditional CRMs were no longer sufficient solutions. As banks continue their digitalization, they need a mobile app that houses all of this in one place – a “CRM in your pocket,” if you will.


It’s not just about storing all your notes. Collaboration has also become paramount. Bankers need to interact with all users across different divisions on potential opportunities as they unfold, such as Mergers and Acquisitions (M&A) or an initial public offering (IPO). Waiting until you’re back at your desk hours later or, perhaps, the following day will no longer suffice. Banking mobility is about real-time activity management through call reports and staying informed through a sophisticated and complex environment.

The New Challenges Mobility Brings

While mobility in investment banking brings a variety of benefits, as with all innovation, there are some challenges to overcome. Security is paramount in investment banking. Accidentally sharing private information is more than a “boo-boo” – it’s a compliance breach event. The system has to be able to protect bankers by applying complex sharing restriction rules and auditing who sees what and when. It’s an investment bank’s responsibility to hone in on the importance of security when implementing new technology. Mobile makes that even more challenging.

With all of this in mind, it also behooves firms to stay ahead of the innovation curve and employ the functionality that allows them to respond to the rapid pace of today’s institutional banking sector. A good system does a good job on day one. A great system is flexible and continuously improves with data feeds, artificial intelligence, analytics, proactive alerts.

Bankers need tools for complete investment banking mobility at their fingertips in a flawless, quick, and accurate manner, which means that mobile banking is no longer a luxury; it’s essential.

Gone are the monolithic platforms that exist solely on a banker’s desktop. Today, what’s essential for them is a single-view, mobile app with the flexibility of interacting with different coworkers from various levels of seniority and specializations. While some are still adapting to this next level of innovation, it’s fintech mobility that may save them the next time they’re in the backseat of a cab.

Solutions for Investment Banking Mobility

Tier1 Financial Solutions is a leader in global relationship management software for the financial industry. It empowers its clients to increase productivity, reduce relationship risk and enhance customer ROI. Tier1 augments the Salesforce platform with a capital markets grade security engine, coverage management and accelerated web and mobile workflows to support the unique requirements of Capital Markets, Corporate & Investment Banking and Investment Management professionals.


Contact us today to learn more about how Tier1’s suite of products can help your firm achieve efficiency and mobility in investment banking.