Advance by Embark goes live on Origo Integration Hub
27 May 2020
Advance by Embark has gone live on the Origo Integration Hub, which now has 22 companies able to exchange data through one central system with any other company on the Hub.
Integrations currently available via the Origo Integration Hub include valuations, bulk valuations, transfer tracking (for platforms/providers), account opening, remuneration and bulk transaction history, with transfer tracking (for advisers) in the pipeline.
Explaining the premise of the Hub, Anthony Rafferty, managing director, Origo, described it is “a common sense strategy for the industry”.
“The Origo Integration Hub is creating greater efficiencies for advice firms by, for example, enabling them to open accounts online, while also supporting the trend for platforms to provide valuations to advisers in bulk – which is far more efficient than individual requests.
“Simply put, it does away with the need for platforms, providers and software houses to undertake individual integrations, one-by-one with every single company with which they need or want to exchange data. Those kinds of point-to-point integrations are time consuming, demanding on resources and expensive to undertake. They also have to be kept up-to-date on an ongoing basis.
“Using a centralised system (a Hub) makes sense, as any company using it can link to any other on the system undertaking the same process, for example, taking valuations from one system to another to enable financial advice firms to undertake client reviews and suitability reports faster, more efficiently and more cost effectively.
“It also means any maintenance required – for example due to legislative or regulatory changes – can be carried out by Origo as one task rather than a company having to do it one-by-one, bit-by-bit with all its integration partners.
“It is good for the industry in other ways also, as it levels the playing field for all players, no matter how deep their pockets, enabling the industry to become more efficient in the way it undertakes data sharing as well as allowing new players into the market.
“Further signings are in the pipeline as more and more platforms, providers and software houses are appreciating the competitive advantage and efficiencies they gain by being part of the Integration Hub.”
Firms currently signed to the Origo Integration Hub (alphabetical order):
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