Cloud-based revenue management platform, OnPay (www.onpay.com.au), has published its Application Programming Interface (API) guidelines to make the fee and commission data it holds available to AdviserLogic users.
“What this does is enable seamless connection of OnPay fee and commission data to clients in the AdviserLogic CRM system,” said Gundeep Sidhu, Managing Director, AdviserLogic and Product Manager, OnPay. “In modern applications this type of data integration is achieved by the use of open APIs.”
In order to accept OnPay data, AdviserLogic has put in place a system to connect with OnPay’s open API. “This allows the fee and commission data files to be available in the adviser’s CRM system, without any manual interference,” Mr Sidhu said. “In this instance, the AdviserLogic CRM allows the management of FDS and Opt-In information with proper record keeping of client communication.”
Mr Sidhu said the integration is another example of how OnPay and AdviserLogic are on the path to bringing additional efficiencies to the financial advice industry, at both the practice and licensee level, and helping advisers to run complying practices.
“FDS and Opt-In are essential compliance pieces that need to be configured into what is an already complex jigsaw puzzle,” Mr Sidhu said. “There is still a lot of skepticism around the implementation of compliance functions from a licensee’s point of view and to be fair there are no easy answers for many questions such as how to deliver information effectively to clients, keeping records of client wishes and communicating the outcomes to the respective product providers and other service providers. What we are doing at OnPay and AdviserLogic is continuing to build solutions that help implement various aspects of these complex pieces.”
