Australian financial planning software provider, AdviserLogic, has published its application programming interface (API) to enable greater software integration with third-party applications.
AdviserLogic's head of product development, Daniel Gara, said that by publishing its API, the business will allow financial advisers to use their own tools with client data inside its system interface.
"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.
"With the publication of our API, others can integrate their solutions with AdviserLogic, without referring back to us. The API ensures data is encrypted both ways."
The announcement comes in light of research that revealed a greater push for integration from financial advisers.
"Recent Investment Trends research revealed that 88 per cent of advisers surveyed are seeking integration enhancements that benefit their businesses," Investment Trends head of research, wealth management, Recep Peker, said.
According to Gara, AdviserLogic's focus was on making the experience "as flexible as possible" and by opening up their API, the company hopes to improve overall efficiency.
"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."
The next step for AdviserLogic is to consolidate its integration with other fintechs and Gara confirmed that AdviserLogic will be exploring the ways in which it can extend its functionality.
"It's how every modern app out there in the world outside our own already operates [and] frankly, it is the way all technology providers in our space should be doing it," he said.