Wall Street banks dropping BlackBerry for BYOD, but BES12 keeps the company relevant

Wall Street banks dropping BlackBerry for BYOD, but BES12 keeps the company relevant
Even though billions of dollars go through Wall Street every day, the banks and brokerage houses are in budget-cutting mode. And that means that a number of the financial institutions that handle stock, bond and currency transactions are dropping BlackBerry and allowing employees to bring their own device. Business Insider has learned that J.P.Morgan is asking its staff to return all BlackBerry handsets provided by the bank. The phones are supposed to be returned over the next 6 to 12 months.

Credit Suisse has already received all of the 'Berrys that it had passed out to its employees and Citicorp is following suit. To keep communications secure, many of the firms are telling staff to install the Good Technology email app on the personal smartphones now being brought into the office. Breaking into Good Technology's email offering requires that someone crack the password used on a mobile device sporting the app, and then crack the app's own email password.

While Credit Suisse originally followed Citicorp and J.P. Morgan by retrieving company owned BlackBerry phones and suggesting the Good Technology email app, it now plans on using Citrix Worxmail. One employee of the Swiss based bank says that "we used to have 16,000 Blackberries and now we have 4,000. 82% of our staff use their own devices."

Smaller financial institutions are also kicking the BlackBerry habit and are adopting BYOD. But all of this still plays into BlackBerry's strength since the latest version of its MDM, BES12, can monitor a fleet of handsets powered by iOS, Android and Windows Phone in addition to BlackBerry. It just so happens that the Good Technology email app is one of the 80 iOS and Android apps secured by BES12. BlackBerry says that the number of Berry handsets used by these banks is not important since many of the institutions rely on BES12 to monitor employees' phones, even those owned by staff.


BlackBerry, often criticized for not using the latest chips and hardware for its phones, was smart enough to know that once BYOD was implemented, employees would run for handsets made by the competition and made sure that BES12 would support these other platforms. BlackBerry's only worry at this point, would be a long running bear market that would force banks and financial institutions to wield a larger and sharper ax aimed at BES.

source: BusinessInsider

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11 Comments

1. PhoneCritic

Posts: 1360; Member since: Oct 05, 2011

That should be a concern for BB BES is not cheap when it comes to licensing and the other oem are working on their on MDM solutions. I would not be surprise if Black berry is brought out by either Samsung /Microsoft these two have the most to gain from an acquisition of BB. I think this is what John Chen is setting up for regardless

4. meanestgenius

Posts: 22426; Member since: May 28, 2014

Your assumption that BlackBerry's BES is not "cheap" is incorrect. BlackBerry has the lowest Total Cost Of Ownership of all the major MDM players: http://blogs.blackberry.com/2014/05/blackberry-enterprise-tco/ Even with other OEM's working on their own solutions, enterprise and government would be hard pressed to use them, as they do not have the years upon years of experience or the capabilities that BlackBerry and their BES offering offers. Why do you think Samsung went to BlackBerry to strengthen its own enterprise offering?

5. meanestgenius

Posts: 22426; Member since: May 28, 2014

"It’s official. BlackBerry provides the lowest cost multi-platform EMM solution on the market. That’s the conclusion of a total cost of ownership (TCO) analysis of multi-platform enterprise mobility management solutions conducted by market research firm Strategy Analytics. The comprehensive study, published in May 2014, compares solutions from six EMM vendors based on hardware, licensing and support costs over five years. Other vendors included in the evaluation are AirWatch, Citrix, Fiberlink, Mobile Iron and Good Technology." Excerpt from the article I referenced above.

2. meanestgenius

Posts: 22426; Member since: May 28, 2014

"Another day, another article declaring that the sky is falling on BlackBerry. If I could have a dollar…but this blog isn’t about me hypothetically getting rich. It’s about re-examining the narrative that Business Insider and other mainstream media are telling, and what those storytellers are completely missing. Business Insider’s first sentence claims “Big banks are cutting out BlackBerrys.” A bold lead, backed up by anonymous quotes from purported employees inside 5 investment banks. female banker holding classicFive is literally just a handful. The investment banking world is much larger – and more diverse – than a fistful of Wall Street bankers. As you can see from this list, there are more than a hundred major investment banks worldwide. Additionally, there are thousands – maybe tens of thousands – more boutique and regional investment banks, retail banks, private equity and venture capital firms, insurance companies, and other financial service firms both large and small (it is a $1.24 trillion industry in the U.S. alone, after all). Some of our global financial customers today include: Alfa-Bank, Banco de la Provincia de Córdoba, Bancolombia, Banesco Banco Universal, C.A., BICBANCO, CRM and Market Data App, Financial Technologies (India) Limited (FTIL), HTP, IA Clarington Investments Inc., Indiabulls, MoneyMate, PricewaterhouseCoopers LLP – PwC Canada, Provincia Seguros S.A., Takaful Emarat-Insurance, Tangerine, and U.S. Bank. Recent customer wins include HSBC, Citizens Property Insurance, ERGO Insurance Group, and Credito Familiar, as our CEO John Chen said at our last earnings call in March. (Side note: If you know how tightlipped banks and insurance companies are, you’ll believe me when I say that we have many, many more financial services customers than I am allowed to name here). Even just restricted to Wall Street, you can find divergent opinions. “Mobile Workers: ‘I Want My BlackBerry Back’” was the headline of a CIO Magazine article last summer. “At a well-known investment firm in New York City,” reported CIO, “Mobile app performance issues and privacy concerns have sparked a Bring Your Own Device (BYOD) revolt, and now many employees are asking for their corporate BlackBerry back.” This New York-based financial CEO and TV guru and leading Canadian financier Michael Wekerle both choose BlackBerry devices, too." That was taken from here: http://blogs.blackberry.com/2015/06/redefining-blackberry-for-the-second-stage-of-enterprise-mobility/ See how different things look from another, non "doom and gloom" perspective? It's all in the wording. PA and its click bait, smh....

3. meanestgenius

Posts: 22426; Member since: May 28, 2014

Also, considering that BlackBerry is focusing more on its software and less on its hardware(they are only actively selling to areas/markets that want/need their handsets), this isn't too much of a concern for BlackBerry, as its their software that manages the majority of devices used in enterprise/government/regulated industries. It's still a win for BlackBerry.

6. Crispin_Gatieza

Posts: 3166; Member since: Jan 23, 2014

This may be a blessing in disguise for BlackBerry. Nobody to bash their handsets while maintaining their unequaled service.

7. SitiNurbaya0

Posts: 153; Member since: May 22, 2015

5 year ago, a lot my friend want bb, and proud using bb now, if you use bb, you donot understand technology, and will be shame.

8. meanestgenius

Posts: 22426; Member since: May 28, 2014

Enough with your incessant trolling, already. You don't like BlackBerry? Fine. But do not presume to tell others that they should be ashamed of using a product of their choosing. What's really shameful here is your English. It sucks, big time.

10. SitiNurbaya0

Posts: 153; Member since: May 22, 2015

Why you need be bad person?

11. meanestgenius

Posts: 22426; Member since: May 28, 2014

Why YOU need be poorly educated troll?

9. StreetNerd

Posts: 870; Member since: Dec 08, 2010

I want a BB Pasport design running WP10 :$

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