IPC — Trader Tools
A leading telecommunications provider for the financial services industry, IPC teamed up with frog to design a new series of corporate communications devices that empower traders to work smarter, faster.
In the high-pressure world of the trading floor, every second counts. Frog worked with IPC on an update of their line of communication devices to grow their market position, reduce their production costs, and meet the demands of a new generation of digitally savvy traders.
Traders need to scan, absorb, and respond to information across multiple systems and devices to inform quick decisions. Every tool must be fully integrated into their workflow -- a single error can cost millions.
Visits to the NYSE floor, interviews with over 300 industry representatives, and extensive testing allowed frog to accurately prioritize trader needs. A co-design process involving several rounds of iteration led to the selection of the most appropriate form factor. A market analysis to determine potential growth was paired with a business strategy to ensure that IPC could support a new product rollout and create breakthrough, powerhouse devices that get the job done.
The IQ/MAX turret, a multi-line, multi-speaker phone system, launched in 2010. Combining off-the-shelf consumer technology with custom software and tough industrial design, the device exceeded trader expectations while lowering manufacturing costs. The IQ/MAX sold 8,000 units in the first year and boasted an adoption rate of 65 percent -- a sharp improvement over the sector's standard rate of 15 percent.
Based on the widespread success of the powerhouse IQ/MAX, IPC and frog built an entry-level device to showcase the technology at a lower price point. Pulse, a compact intercom, presents a pared-down version of IQ/MAX's intuitive flow on a smaller device. By helping customers plug into the IPC platform, Pulse has significantly impacted the IPC business model as a way to introduce new clients to IPC software solutions.
The introduction of two widely successful communications tools positioned IPC as player intimately tuned to needs of traders, willing and capable of innovation in the risk-averse financial services space.
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