Sprint Enterprise Technology’s FINIO is set to add two to three platforms to its integration hub by the end of the year.
Sprint Enterprise Technology chief executive Robin Bevan told Money Marketing: “We would like to bring on another two to three platforms this year.
“We have conversations going that make me think that it’s very likely we will have four or five platforms live before the year ends.
“I can’t mention names, but I would be pretty surprised if we’re not in that position by the end of the year.”
FINIO aims to simplify the integration process between investment platforms and adviser software providers.
It is designed by Sprint Enterprise Technology that was founded in 2010 and is known for Fastrak software.
This enables advisers and wealth managers to review and report on client investments.
Sprint Enterprise has taken the aggregated data it has acquired from Fastrack to create the FINIO hub.
FINIO takes investment data from platforms and advisers’ back office systems. As a result, advisers can see information via a single point of access.
Bevan told Money Marketing: “The hub is a new proposition. We decided that we wanted to target no more than two platforms initially and do a really good job.
“It’s not just about integrating with the two platforms, but we also have to push data to all sorts of different places.
“99% of what we do is straightforward, but 1% is quite difficult. This 1% takes a lot of time.
“If we took on too many platforms, we probably wouldn’t have done a great job.”
US wealth manager Raymond James was the first firm to partner with FINIO.
It was soon followed by investment platform 7IM.
Source: Money Marketing