Imagine institutional investment information that fits on a smartphone screen—there’s an app for that.
Scout Finance is an iPhone and iPad application that gives investors access to fundamental data on investments. It’s now available for download after a “soft launch” last year.
“It’s superfast, it has great data, and it gets investors focused on fundamentals up to speed on a mobile device,” says Vivek Nasta, the CEO and co-founder of New York-based Scout. “It’s useful to investment professionals and advisors because they spend so much time on the road or in meetings that it isn’t reasonable for them to seek the information on a desktop or a seven-screen Bloomberg Terminal.”
Nasta, the former global head of mobile at Thomson Reuters, left his position in 2012 to focus on the financial industry’s mobile problem: On-demand data is not readily accessible to investors, advisors and managers on the move.
Scout Finance’s solution is to allow investors to build a watch list of stocks, then access research, filings, operation data, reports and pricing on more than 6,000 equities through their iPhones using one-touch navigation.
Investors can use the technology to access presentations, earnings call transcripts and audio and other releases. The application can also deliver historical financial data covering the past five years of each company’s history.
“We’re on a mission to change how financial professionals trade and do their research,” Nasta says. “People really like being able to access documents or earnings calls with one click, and then being able to talk to a client about a company or to arrange a trade for themselves without having to be in the office.”
Though Scout Finance is not a trading application, Nasta says the ease of use can be a time-saver for institutional investors and hedge funds when compared with traditional products like a Bloomberg Terminal.
Scout also gives investors access to articles from a variety of news wires, publications and blogs, and push notifications can be set up to alert users when new information is made available. The application auto-caches documents so users can read offline when their wireless access is interrupted.
“Because of the watch list, it learns a user’s preferences and the stocks they typically look at,” Nasta says. “So if they’re in a situation where they’re without a connection, if they’re going through a tunnel and they’d otherwise be out of luck, they can still access the information.”