Hydrogen has also an Ethereum-based infrastructure that allows API users to integrate blockchain into their applications and provide smart contracts and authentication in a more secure, transparent, and innovative way.
The company’s AI APIs enable users to make applications more intelligent and facilitate the application of machine learning. Mike said, “Users don’t need to know how the machine learning works. It doesn’t matter if you’re just going to hit an API point and it’s going to do the whole thing for you, including get out all the antsy stuff. So what we’re trying to do is a little bit ahead of the market. What we’re selling to people is that they will need a very small data science blockchain team if they use our API. A person who’s using that app doesn’t necessarily know that they are using AI or machine learning. We’re trying to do things in a more usable, functional way for the end client.”
Trizic
Trizic understands the great demand not only for wealth-management capabilities and functionality, but for integrations. Steve Lewczyk, Chief Revenue Officer at Trizic, said, “The most important thing with any integration, be it a file-based integration or API integration, is understanding who you’re building for, who are the target markets, who are the key clients that will benefit from whatever you’re going to build.”
Trizic has three target markets: RIAs, enterprises, and the bank marketplace. According to Steve, for Trizic it’s important to enable clients to either explore a standard user interface (as most RIAs do) or build their own user experience (as many enterprises choose to do). The company has to be flexible enough to deliver its framework and services and provide enterprises with the capability to build everything (e.g., CRM, portfolio management system, rebalancing system, etc.) themselves at the lowest total cost and effort.
Steve believes that custodial integrations are the most important aspect for any wealth-management firm because they give access to data. Before considering integrations with custodians, Trizic first looks at workflow, user experience, and ease of deployment.
To build a comprehensive omnichannel solution, Trizic spends a lot of time and resources on multiple integrations, including a trade order management system, financial planning system, and mobile banking platform. Steve Lewczyk considers ideal partners as those who have APIs available. Unfortunately, most custodians are still file-based.
“Everyone’s going to be communicating via APIs. However, it’s going to take an institution that’s been doing it for 50 years a lot longer to get their API store in place than somebody who is a relatively new upstart.”
Trizic has built an open API infrastructure and publishes APIs to make them available to all of its clients and integration partners.
MyVest
Charlie Haims, Vice President of Marketing at MyVest, explained that MyVest likes to keep things at a high level. The company has integrated with key partners for several functions across its enterprise wealth-management platform. “Some examples include trading connectivity with the SunGard Transaction Network and GXS, portfolio accounting from Eagle, multiple custodians, and data vendors like Morningstar, S&P Global, and ICE.”
The company also has a broad set of web services built on REST API that enable integration between MyVest’s platform components—such as model management, and rebalancing and trading—and its customers’ systems and their preferred applications (e.g., CRM, financial planning, and account aggregation).