Allfunds unveils API platform for wealth management
Allfunds Bank Group is all for APIs with the launch of a new platform targetting the wealth management industry.
The platform offers a “fully digitised way” of accessing Allfunds services by providing access to third party applications using standardised APIs which it says comply with emerging regulatory norms such as MiFiD II.
Like many other fintech firms, Allfunds wants to boost its digital ambitions using APIs. The company says its fund/ETF platform is used by over 550 wealth managers in the UK and Europe, so this platform will let advisory firms offer their customers a range of new digital services on smartphone, tablets, mobile and other devices.
There are no more details at present, but Allfunds will launch a brand new (and unspecified) front-end web tool in the coming weeks, a future API developers’ portal, and it plans to develop and manage front-end portals on financial distributors’ behalf.
Allfunds was founded in 2000, and says it presently has more than €290 billion assets under administration and offers close to 53,000 funds. It has offices in Spain, Italy, UK, Chile, UAE, Switzerland, Colombia, Luxembourg and Singapore.