The announcement was part of IRESS Open, which will see IRESS expand the number of integrations available to clients by making access to IRESS’ existing APIs "simpler and easier."
Under IRESS Open, clients will be able to integrate XPLAN with third party applications in two ways:
• Standard integrations - a new approach where clients can directly engage with third party providers and integrate XPLAN to a third party application simply and directly. These integrations will facilitate the transfer of data with the third party application, rely on a clients’ permission and do not require product development.
• Custom integrations - continuing IRESS’ existing approach of comprehensively integrating third party and client software. This approach sees IRESS and the third party provider working together to develop and embed functionality within the user interface.
A range of standard integrations are already “well advanced' for clients using XPLAN including financial modelling tools, risk profiling and portfolio analytic applications.
IRESS group executive - product, Aaron Knowles, said the combination of standard and custom integrations will provide increased choice for clients seeking integrations with third parties.
He added: “IRESS has a rich history of leading custom integrations with third party providers from fintechs to large providers such as Microsoft.
“These comprehensive integrations will remain an important part of what we provide.
“At the same time we are experiencing increased demand from clients who want to be able to directly connect a third party application to their IRESS product - without product development work needing to be undertaken.
“Standard integrations will make it simpler and easier for third party applications to be available to clients and users through XPLAN and, over time, to more of our products.
“This will further open XPLAN and enable clients to determine what makes up their technology ecosystem.”
Standard integrations will be available from January.