Wealth management infrastructure provider, APIR Systems, has launched key upgrades to its existing data capabilities by creating more flexible delivery methods and adding a validation service, enabling real-time APIR code authentication.
APIR Systems is an independent utility providing the wealth management industry with infrastructure that identifies and manages reference data for unlisted financial products. Its services are used by advisers, platforms, financial planners, fund administrators and industry regulators to support processing and reporting requirements.
APIR Systems chief executive officer, Chris Donohoe, said the combination of the two features complement the existing service offering, and will offer the broader industry greater efficiency in back-end processing.
“The improved functionality will be of great benefit to our existing and prospective clients. Clients who use the validation service, in particular, will potentially save time and minimise or eliminate re-keying as they will be notified in real-time whether it’s a genuine code and also its underlying status,” he said.
APIR systems collects data on financial products and has enhanced its delivery options to include a secure API delivery function.
“We’ve made the improvements over the past six months and it will benefit all those in the market. All wealth management industry stakeholders will now have the opportunity to receive quality data faster and more efficiently.
“There are some $3 trillion worth of investments transacted, managed and administered by service providers that rely on APIR’s codes and on our range of reference data services to support their systems, processing, reporting and documentation requirements.
“We’re now able to deliver comprehensive data sets from machine to machine utilising the most secure connectivity with the additional data and delivering flexibility,” said Mr Donohoe.
APIR Systems will also continue to provide its alert service, with some 700 clients already subscribing. The alert service issues monthly reports which notify clients of products that have opened, closed and archived since the previous report.