Adviser platform Transact is to update its API to improve how its platform connects with other Financial Planning software, including CRM systems.
An API, or application programming interface, is the set of rules that enables two different software applications to communicate with one another.
The interface acts as a bridge, delivering a request from one provider system to another and then returning the response. It provides enhanced connectivity.
Transact said its new API framework is designed to deliver richer, more up to date and reliable data directly into advisers’ systems as well as adding a simpler setup process for advisers.
The modernised API is intended to help reduce rekeying, cut manual work and improve data consistency across systems.
Transact said advisers should benefit from smoother integrations, fewer errors and a more joined‑up technology environment. The API is particularly designed with CRM-led workflows and online authorisation processes in mind.
Planned improvements include improved access to documents that support client reviews, costs and charges data, the execution of instructions and the ability to manage models and rebalance portfolios using firm's own software.
Tom Dunbar, CEO of Transact, said: “We have made a significant strategic investment in this programme, with a dedicated team focused on improving our API capabilities. The aim is to help advisers and firms access data more easily within the systems they already use, while reducing manual processes and improving consistency across workflows.
“We see this as an important part of our longer-term vision to support digitalisation across the advice sector.”
The platform provider reassured advisers that its existing API services will continue to run while the upgrades are made.