Integration – It Wasn’t A Quiet Summer

The summer can often be considered a slow season, but at Transact we have been busy on the integrations front, as we:

• Worked with Plannr to build a remunerations connection that automates reconciliation of actual fee payments and expected fee payments.
• Published our technical specification for our Remuneration API. It may seem a rather technical web page but it can make building to our API much easier for software providers. Our goal is to make connecting to our APIs as easy as possible.
• Continued to assist intelliflo users with the installation of the Transact Income Statement app from the intelliflo store. It has been a roaring success so far. To date, 280 adviser firms have installed the app who manage £15.5bn of funds under administration in 50,000 Transact portfolios.
• Engaged with various software providers designing and building possible future integrations. These include:
  • Account Opening – this will facilitate the secure transfer of data from the software provider (e.g. CRM) to Transact in order to open a Transact portfolio without rekeying. We will make further announcements about this in the new year.
  • Document exchange – a pilot scheme, with moneyinfo, that shares Transact correspondence for Mrs Miggins, via the adviser’s client portal. We will iron out any issues in the pilot stage and then we want to extend it to all advisers/software providers in the new year.
  • Client Consent (via a client portal) – another pilot scheme with moneyinfo, that permits Mrs Miggins to agree to opening a Transact portfolio via the adviser’s client portal. It is early days but once we develop a solution we plan to offer this at scale in order to make clients’ and advisers’ lives easier.
  • Categories of Transaction data – our Transaction data API is very comprehensive. It includes a vast amount of data and transaction types. We have been asking some software providers if there is sufficient demand for APIs that offer more targeted categories of data. This is at the embryonic stage.

You can see from the above that we are committed to building integrations that reduce friction, eliminate rekeying, reduce user errors, speed up execution of instructions and improve efficiencies leading to a lowering of costs.

Some of the possible future integrations are at the very early stage – so no promises when they will be released, but we can promise that we will continue to engage with everyone to ensure Transact is at the forefront of integrations.

If you have any questions regarding the above please get in touch with Tom Phillips, our Integrations Manager, or your friendly Transact Business Development Manager.

1. Introduction
2. TOL Recent Enhancements 
3. Integrations – It Wasn’t A Quiet Summer!
4. Transact Transfer Specialists
5. Fraud Risks to Be Aware Of
6. Transact And Letters of Authority
7. Transact – BlackRock MPS
8. Utilising Trusts to Give Wealth Away But Still Retain Access
9. Interest on Cash Deposits
10. Transact Events 2024