The Need for APIs in Today’s FinTech Space

Leah Stoney – 06/16/2022

With so many needs and options in the FinTech space, an Application Programming Interface, or API, remains the key element for integration, maintenance, and automation across multiple systems. Historically, most advisory firms have focused on providing service and less on hiring outside IT developers, leading to a lack of efficient technology adoption. However, over these past few years, we have seen a dramatic increase in advisory firms driving their integrations to streamline critical processes.

The engineering team at SS&C’s Black Diamond® Wealth Platform realizes there isn’t a one-size-fits-all tech stack solution. With multiple applications such as CRMs, financial planning tools, rebalancers, and other analytic tools working together, our mission is to seamlessly provide firms with their data and make it easy for advisors to maintain their instance of Black Diamond. In addition, our commitment to maintaining an open platform with a comprehensive API suite helps ensure successful integration between our advisors and partners.

To demonstrate that commitment, our team has created the new Black Diamond Development Portal, a central destination for all the documentation and resources needed to drive awareness of our integration options. The Development Portal includes resources such as:

  • Authentication
  • Real-time & batch solutions
  • Maintenance workflows
  • Single sign-on
  • And much more

Imagine the ability to click a single button in your CRM that creates the client user and relationship, manages accounts, configures the vault, and sends a custom welcome message to their timeline. All that, and much more, is possible with Black Diamond’s comprehensive API suite and developer portal.

 “At Black Diamond, we remain fiercely dedicated to being an open ecosystem that works with partners to help serve our mutual clients,” states John Milne, Senior Director of Strategy and Product Development for Black Diamond. “With the launch of our Development Portal, we hope to make it easier for advisors and partners to leverage our core API suite and build impactful integrations – and we look forward to investing more here in the years to come.”

To expand on our API and help bridge the usability gap, we are working to create a user-friendly guide. These new product briefs highlight various API functionality and show real use cases amongst existing partners and firms. This level of detail helps streamline API implementation and open its use to a broader audience without needing to hire additional resources.  

To learn more about the Development Portal and how to integrate multiple applications within the Black Diamond Wealth Platform, request a personalized demo today.