Mobile ROI Hard To Quantify For Financial Firms

By Jake Thomases

At a debate on the impact of consumer technology in the financial services industry, four mobile specialists expressed their opinions on what has been overhyped and what's been underhyped.

Mobile innovations are almost never a direct driver of business, OpenFin CEO Mazy Dar explained during a discussion hosted by DataArt on consumer technology's impact on the financial markets. In fact, he called it the most overrated aspect of consumer technology in business. For one thing, its return on investment is difficult to quantify, according to Dar.

"People like to talk about it but it's something that rarely gets done," said Alexei Miller, EVP at DataArt, a Manhattan-based software outsourcer with operations in London and Eastern Europe, including its development headquarters in St. Petersburg, Russia. "The conversation dies right where the topic of return on investment starts. How do we justify this?"

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