Demand for systems integration answered


By Kristen Crawford

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AdviserLogic has delivered financial advisers greater software integration by issuing an application programming interface (API).

The API allows third-party software applications to both add and take AdviserLogic data and the software delivers on the key theme of adviser demand identified in research by Investment Trends.

“Recent Investment Trends research revealed that 88 per cent of advisers surveyed are seeking integration enhancements that benefit their businesses,” Investment Trends head of wealth management research Recep Peker said.

AdviserLogic head of product development Daniel Gara said the group’s software had long been able to integrate third-party applications into its solutions, but now, with the publication of its API, others could also integrate their solutions with the software, without having to refer back to AdviserLogic.

Further, Gara said the new interface meant advisers now had a tool they could use with client data held within AdviserLogic.

“What we have created is an open system. Users can now send a message to our server, which sends data back to them or, conversely, sends data to us,” he said.

“The API ensures data is encrypted both ways.”

Meanwhile, the focus of the development was to make the experience as flexible as possible and in the process improve efficiencies, he said.

“We want our users to enjoy what we offer, if they think it’s right for them,” he said.

“Different advisers will want different features, but the ultimate aim is always increased efficiency – that’s the whole point of employing fintech and robo-advice.”

Further, in publishing the API, AdviserLogic had to learn to “let go”, he said.

“The fact is we don’t need to be intimately involved in everything our users do with the technology we provide to them and if we try to control the way they use it, we may be stifling our own development,” he said.

“Some people might use our technology in ways we haven’t even thought of.

“So, bottom line, if our users want to do something different, we won’t stop them.”

He said AdviserLogic would also be extending functionality to other companies in the fintech space.

“It’s how every modern app out there in the world outside our own already operates, it’s the way of the future for financial services technology and, frankly, it is the way all technology providers in our space should be doing it,” he said.

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