First four companies live on Origo’s Integration Hub
Four companies are live and using the Origo Integration Hub, the not-for-profit Fintech company has announced, with other companies “in the pipeline”.
The first four joiners are; JCS, MetLife, LV= and Time4Advice.
Paul Pettitt, managing director of Origo, said that Origo brought together a cross section of the industry’s platforms, providers, back-office and software companies, to work on the Integration Hub, bringing their knowledge and expertise to the table in terms of informing the operational and technology specifications
The aim is to make integration between companies, and the delivery of key elements like valuations data, easier and faster to effect.
“The Origo Integration Hub does what it says on the tin, enabling individual companies to connect to one another through one central hub, regardless of which version of standard or bespoke integration is supported by their partnering systems,” Pettitt said.
“Integration is fundamental in the adviser market – enabling communications and data, such as real-time valuations, between firm systems and various platforms for clients, to be quick, cost effective and secure – reducing the risks to their business.
“Where integration doesn’t exist for example, adviser firms often have to either rekey from paper or screen, or download data from one system and manually input it into another. That is inefficient, has time and resource costs for adviser firms and leaves them vulnerable to mistakes being made. Not surprisingly, integration between systems is high on the adviser priority list.
“We are delighted to have been able to work with the industry and bring the Integration Hub to market. Now, platforms, providers and adviser software companies will be able to quickly, easily and cost effectively integrate with each other as the Hub grows – all without the hassle and expense of creating individual integrations.
“Importantly, as the service enables automatic connection to all other companies using the Hub, it provides the opportunity to easily connect with new trading partners if they wish – partners which IT and commercial considerations previously might have put beyond their immediate reach.
“Adviser firms should also begin to feel the positive impact in their businesses as more companies begin using the Integration Hub, creating a more streamlined, secure flow of data between all of the participating companies.
“With Origo’s Integration Hub, connectivity no longer needs to be cumbersome.”
Jon Pocock, head of Portals and Integration at LV=, said: “Origo’s Integration Hub will make the setting up of new integrations much easier, reduce the ongoing costs of maintaining those integrations and ultimately make it simpler to add more complex products going forward.”
The first live message to pass through the Integration Hub was from adviser firm Hartley Hepworth FBA in Sheffield, using JCS. Managing director Glyn Hepworth said: “Setting up and accessing valuations from MetLife via Origo’s Integration Hub was free, easy and completely transparent. For us it was no different to all the other valuations we do on JCS but we are now looking forward to having many more links available via this new service, particularly with niche product providers, and covering more products.”
Mitchell Philpott, founder and managing director of Time4Advice, added: “Our philosophy is to concentrate on what we do best – client relationship and business automation software – and to integrate that with best-of-breed suppliers of complimentary technology and data services. Extending and maintaining those data services just became easier with the launch of Origo’s Integration Hub, which is why we are very happy to embrace the initiative and why we were one of the first companies to sign to the service.”