We agree with recent CNN article (see here) about advantages of HTML 5 vs smartphone applications.
Responsive design is becoming common. Reality is that development of separate user experience and whole separate delivery platform is very costly and doesn’t add as much to user experience if something very similar can be achieved by designing for different platforms. Absolutely – the additional cost savings can be passed directly to the end user of the content and the trend will continue to design websites for financial services industry in replacement of stand alone smartphone applications.
There is no doubt that overall richer experience will still be behind platform-specific applications.
Yet, a one-size-fit-all approach, when saving a lot of money and delivery most of the experience will be preferred way to go for budget-minded content providers.