Fidelity says it has expanded its open-architecture digital store to include integrations with more than 200 third-party technology providers.
The company launched the digital store, Integration Xchange, in October 2018 as part of an effort to offer its intermediary clients application programming interface and single sign-on integrations, as well as trading connectivity, self-service features and more, according to Fidelity.
Among the most recent enhancements are added integration capabilities with platforms and products from AdvisorEngine, Black Diamond, BlackRock, Orion, Redtail and Riskalyze, Fidelity says. This includes enabled account opening, automated clearing house transfers, advisory fee billing calculations, contextual linking capabilities, model portfolio comparison, risk and tax impact analysis, real-time alert capabilities and more, according to Fidelity.
Fidelity also added several features to help firms understand and manage their technology ecosystems, including API filtering, added capabilities for managing integrations and new support resources, the company says.
The latest announcement comes on the heels of recent findings by Fidelity that two-thirds of advisors are exploring new fintech options in light of the Covid-19 crisis, the company says. Half of advisors say their companies work with at least six different technology providers — and 54% of advisors believe that number will increase over the next five years, according to a survey of 422 advisors who manage or advise upon client assets either individually or as a team, and work primarily with individual investors. Fidelity fielded the study from July 10 to July 16.
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