TD Ameritrade has rolled out a virtual reality tool to give investors exposure to popular stock and options exchanges and a Bitcoin mine. The project involved work with Oculus Go from Facebook and was announced last week in Las Vegas at TD’s Investor Education Conference.
“Finance is often abstract, and we’re excited to take first step in using the power of VR, combined with our expertise and knowledge, to further demystify the often complex topic of investing,” according to Sunayna Tuteja, head of strategic partnerships and emerging technologies for TD Ameritrade. “We’re on a journey to break down more barriers to entry when it comes to investing in the markets, and this is one more way we can do that.”
Investors can access the TD Ameritrade experience via the Oculus Video app on the company’’s main menu or through the Oculus mobile app on a mobile device.
“Learning through an interactive experience is an exciting and immersive way that will help investors understand more complex issues and retain the knowledge learned for their own financial futures,” said Lee McAdoo, managing director of Investor Education at TDAmeritrade, in a statement.
“By bringing our best-in-class educational content to new platforms like Oculus Go, we expand our ability to teach investors through platforms that can delight and educate them simultaneously,” she explained.
TD Ameritrade provides access to other content for investors with other third-party platforms such as Facebook Messenger, Twitter DM, Amazon Alexa, Apple Business Chat and WeChat.
Earlier in October, TD Ameritrade President & CEO Tim Hockey said that driving the firm’s technology partnerships is the premise that “our clients are already there … so we should go there, too. It’s essential and a no-brainer.”
Bringing investors such tools doesn’t happen overnight, he explained: “We start at the small stage, build the relationships, and then it adds up to more and more.”
By partnering with Apple on chat functions, for instance, TD Ameritrade is working “at their speed, and we can emphasize the client experience.” Plus, having multiple partners and projects means “we are not betting the firm on any one of these.”