Joint standard to smooth software interfaces
Financial planning software providers VisiPlan and Coin have jointly released a set of standards for use in the development of interfaces between platforms and front-end software.
The companies teamed up eight weeks ago to develop the open and non-proprietary standard for platform interfaces, which they have called the Electronic Platform Interface (EPI).
According to the companies, the format is based on VisiPlan parent, IWL’s VisiTrustedNetwork (VTN) offering.
IWL executive general manager advisory software strategy Phillip Thomas said the standards would lead to a more efficient industry.
“With the standard being based on existing protocols used by IWL, most popular platforms are already able to support the initiative and we are able to hit the ground running,” he said.
Managing director of Macquarie Bank-owned Coin, Tony Graham, said giving all front-end software and all platforms access to the one set of standards was a positive outcome for the industry.
“In the past a lot of effort went into building one-to-one custom interfaces. This is a process which is both costly and time consuming,” Graham said.
Coin Office will support the EPI format in version 2.6, while VisiPlan 7.1 and the recently released version 7.2 already support the format.
The companies expect to release the next components of the standard in July.
AUTHOR
Zoe Fielding
Recommended for you
With Fortnum Private Wealth and Professional Financial Services now unified under the Entireti umbrella company, CEO Neil Younger has detailed to Money Management the firm’s new direction and future expansion.
The FAAA has suggested looking offshore for overseas financial advisers to ease the adviser shortage, but are employers willing to take on the burden of workplace visas?
There may be a huge influx of alternatives coming to the market, but timing and access difficulties mean advisers can easily end up disappointed with their selection, according to Morningstar global CIO Dan Kemp.
An NSW individual has pleaded guilty to one criminal charge of providing unlicensed financial services after promoting crypto investments at national seminars.
