Last year we introduced a stage one integration with Fundment, which allows you to conduct straight-through processing from your FE CashCalc account to their investment platform. The integration was and remains the first of its kind, and to summarise, it enables you to either link existing clients or export new clients from FE CashCalc into Fundment.
But what are the benefits of straight-through processing to a platform?
Firstly, straight-through processing to a platform enables you to set up a client’s policy quicker and easier. By establishing an integration, you can simply export your client and their information from FE CashCalc to your investment platform, reducing the need to manually key client information and saving you time in the process.
User feedback suggests the integration between FE CashCalc and Fundment saves them on average 15 minutes per client. Now although in isolation this doesn’t sound like a huge saving, it is a step towards being able to connect up your entire financial planning process and seamlessly move client information to where you need it.
Reducing the need to manually key client information also helps reduce the possibility of errors. This is arguably a more important benefit because, by using an integration to move client information from one system to the other, you are ensuring data integrity by eliminating the possibility of mis-typing a client’s name, address, national insurance number, etc.
This is a very important point and can be incredibly valuable if you were to consider replatforming. For example, a user recently used our integration with Fundment to move all of their 150 clients onto their investment platform. The integration enabled them to seamlessly export their clients and information without the need to manually re-key, while also saving 15 minutes for each client.
It’s important to also note that our integration with Fundment is currently at stage one, and we are working hard on enabling you to import full transactional history from Fundment into FE CashCalc. This will then help improve the efficiency of your annual suitability reporting, because you’ll have quick access to custody costs, investment costs and advisory costs.
We are, of course, seeking to expand the number of platform integrations we offer, to provide you with greater choice and gain the benefits of straight-through processing. However, please do let us know which platform integrations you’d like us to consider. Although we are already speaking with several other platforms, we’d love to hear your suggestions.
If you already have a Fundment account and wish to integrate, the 1-minute video below details the simple process you’ll need to follow. If you don’t currently have a Fundment account and wish to find out more about what they can offer, please email [email protected] or let us know and we’ll introduce you.