|QuoteMedia, Inc. (QMCI.OB) Works to Increase Market Share|
QuoteMedia, Inc. (QMCI.OB) is involved in one of the fastest growing niches in the financial industry. The company is currently one of the leading providers of financial stock market feeds and data to financial institutions, online brokerages, public companies, and clearing houses. QuoteMedia also provides its customers with financial software solutions that provide end-users with the tools they need to translate market data into usable information that can be applied to their own financial growth.
QuoteMedia has a number of competitors who are providing financial data to the marketplace. Many of these competitors are using outdated technologies created upon legacy-style data networks which require heavier server and network loads along with more bandwidth, which result in higher server and data delivery expenses. QuoteMedia has built a proprietary and streamlined platform that allows the company to recognize positive margins, even when a contract is executed at a wholesale price point.
At this time, financial sites have significantly more online hits compared to any other topic or category. Financial sites are visited even more frequently than existing portals, online communities, and search engines. Statistical research has found that 65% of users online are searching for financial information.
QuoteMedia is focused on significantly increasing its top line revenue growth by increasing its presence in mobile/PDA, data feed, and financial software application market. The company will use its partnership with Penson Worldwide and other existing clients to execute its plan to expand its market share with mobile carriers, large scale web portals, and other financial institutions.
According to a representative at ScotiaBank, “We’re excited to introduce this market-leading capability to our clients. Providing real-time financial information and portfolio management with integrated trade execution, demonstrates our commitment to helping our clients meet their goals. We conducted extensive research to find the most advanced and complete solution that could be fully integrated with our trading platform. QuoteMedia’s technology provides the best solutions to our clients’ needs.”
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