Class has entered into a public pilot for its integration with Xplan, with the Class data feed being able to provide an up-to-date view of client wealth for financial advisers and accountants.
The feed would include all investments held within Class, including unlisted assets, which would allow customers maintain a consistent portfolio position and would reduce double-data entry.
The Class data feed features included:
- Unlisted holdings would be included in the feed and would not need to be done manually in both systems;
- Over 30 different cash transaction types would allow users to easily identify cash transactions based on matching already done on Class. This included pension payments, contributions, income, actuarial expenses or property expenses;
- Xplan users could pick which accounts they want to include from Class; and
- Users could decide which transaction history they wanted to maintain prior to switching and were able to reverse the decisions later.
The Class data feed to Xplan would integrate with both Class Super and Class Portfolio.
Andrew Russell, Class chief executive, said the firm aimed to remove technical complexity and time wasting, including removing manual entry through feed automation.
“Time is our customers’ most valuable resource and we remain focused on helping them save that by providing even more value for money from their Class subscription,” Russell said.
“In order for technology companies to thrive in the modern world, they must look to partner with other businesses in the wider technology ecosystem to continually deliver value for money and cross-platform functionality for customers.
“Under our re-imagination strategy we want to become one of Australia’s most trusted technology partners, and integrations like this with Iress’ Xplan are an example of how we want to partner with industry.”