JERSEY CITY, N.J., August 5, 2013 /PRNewswire/ -- Albridge Solutions, Inc., an affiliate of Pershing LLC, a BNY Mellon company, today released a new white paper that finds advisors must have seamless movement of data between third-party financial services applications in order to improve workflow, increase efficiency and stay ahead of their competitors.
According to the paper, entitled "S tandardizing the Interoperability Framework: Promoting Seamless Application Integration for Optimized Workflow," 44% of financial technology executives[i] describe the management of the various applications they use as decentralized and fragmented. Many financial services firms have attempted to deliver a platform that allows for centralized and consolidated data management, but have been unsuccessful until now. To address the need to improve technological inadequacies, workflow redundancies and convoluted communications advisors experience, Albridge created the Applink platform.
"Seamless and fluid movement of data among financial services applications is necessary for advisors to stay ahead of the competition," said Gregg Klein, director of product management at Albridge Solutions. "Albridge Solutions strives to create operational efficiencies and Applink does just this by allowing advisors to transport data both to and from more than one application, thereby creating a true ecosystem of bi-directional interoperability. As a result advisors can increase efficiency, focus on their core competencies and increase their competitive edge."
Interoperability is communication and transportation of data both to and from more than one application or system – among diverse and dynamic third-party, advisor-facing application providers. Applink delivers interoperability by integrating more than 100 different applications and systems that aren't normally compatible with one another. There is a single sign-on (SSO) interface that integrates the third-party advisor-facing application providers into one framework. Additionally through Applink, advisors have the choice of which applications and programs they want to employ to structure their client data, creating a customizable workflow.