A Swiss industry initiative aimed at simplifying data exchange between custodian banks and independent asset managers gains momentum.
Etops Group, a portfolio management solutions provider and early member of the OpenWealth Association, has deployed an API from the association. In doing so, Zuercher Kantonalbank (ZKB) becomes the first bank to connect to Etops' portfolio management systems via the new API standard, according to a statement Monday.
Zuercher Kantonalbank made its API interfaces available in November of last year via SIX bLink. External asset managers will thus be able to display client portfolios in their third-party systems.
Collaboration Made Simple
OpenWealth's API allows portfolio data and securities transactions to be transferred via standardized interfaces, simplifying collaboration between custodian banks and external asset managers. In addition, asset managers can process traditional banking services directly in the portfolio management system without having to take the detour via e-banking.
«By connecting Zuercher Kantonalbank via the OpenWealth interface, we are expanding and automating our solution offering, reducing complex processes and at the same time securing data exchange with authorized external asset managers,» Pius Stucki, CEO of Etops Group said.
