Fidelity® Now Offers Even More Flexibility to Intermediary Clients Through Updates to Integration Xchange, Its Industry-Leading, Open Architecture Digital Store
Fidelity® today announced that Integration Xchange, the company's award-winningi, open architecture digital store, now includes integrations with more than 200 third-party fintech providers, increasing flexibility for firms as they develop tailored technology platforms that meet the needs of advisors and their clients. Technology is more important than ever - three-quarters of advisors in a recent Fidelity study said the COVID-19 crisis is accelerating their firm's adoption of digital processesii. Fidelity offers its intermediary clients a robust suite of API integrations, nearly doubling the number of available API and single sign-on integrations since 2017. Fidelity also offers data feeds, real-time alerts, Financial Information eXchange (FIX®) trading connectivity and other integrations to help firms seamlessly build and customize easy-to-use digital experiences.
"Two years ago, we set out to make our integrations platform the best in the industry, building on our longstanding open architecture ecosystem to deliver even greater flexibility and more seamless third-party integration capabilities," said Lisa Burns, head of Platform Technology, Fidelity Institutional. "Client feedback and industry awards indicate that we've achieved that goal, but we're continuing to expand our integrations and enhance Integration Xchange to meet clients' evolving needs, including making it even easier for firms to find integrations that will make an impact on their businesses."
Fidelity Survey Shows Access to Digital Tools and Integration of Technologies is Crucial
The 2020 Fidelity Financial Advisor Community COVID Series -- Technology Studyiii examined how firms are currently leveraging integrations, as well as advisor expectations for technology during the COVID-19 pandemic and beyond. The study found that:
Fidelity Continues to Increase and Deepen its Fintech Integrations to Meet Client Needs
AdvisorEngine®, Black Diamond®, BlackRock, Orion, Redtail and Riskalyze are among the fintechs with new or recently enhanced integrations:
To make it easier for firms to understand the fintech solutions available, build the right platforms for their business needs and manage their end-to-end technology ecosystems, Fidelity added features to Integration Xchange, including:
Integration Xchange is Continuously Enhanced to Meet Client Needs
Integration Xchange launched in October 2018 to help firms build tailored technology platforms that meet their business needs. In response to evolving client needs and industry trends, Fidelity continues to enhance Integration Xchange through the addition of new third-party vendors, introduction of new and deeper integrations, and enhanced self-service features that make it easier for firms to manage an increasingly complex technology ecosystem.
Fidelity invests billions of dollars annually in its technology enterprise-wide, leveraging its scale to develop new capabilities that help meet the distinct needs of each of its customers.
In April 2020, Integration Xchange won a Celent Model Wealth Manager award. The sole winner in the Products & Platforms category, Integration Xchange was recognized for its ability to help firms efficiently design and develop integrated platforms that meet the needs of their businesses and improve advisors' ability to serve investors. Celent is a global financial services research and advisory firm. Integration Xchange also received the 2019 WealthMangement.com Industry Award for Custodian Technology.
For more about Integration Xchange, please visit go.fidelity.com/IntegrationXchange.
About Fidelity Investments
Fidelity's mission is to inspire better futures and deliver better outcomes for the customers and businesses we serve. With assets under administration of $9.0 trillion, including discretionary assets of $3.5 trillion as of August 31, 2020, we focus on meeting the unique needs of a diverse set of customers: helping more than 32 million people invest their own life savings, 22,000 businesses manage employee benefit programs, as well as providing more than 13,500 institutions with investment and technology solutions to invest their own clients' money. Privately held for more than 70 years, Fidelity employs more than 45,000 associates who are focused on the long-term success of our customers. For more information about Fidelity Investments, visit https://www.fidelity.com/about-fidelity/our-company.
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Fidelity Institutional? provides investment products via Fidelity Distributors Company LLC.
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i In April 2020, Integration Xchange won a Celent Model Wealth Manager award. Full description of award categories and criteria are available here: https://www.celent.com/awards/model_wealth_manager/winners. Integration Xchange also received the 2019 WealthMangement.com Industry Award for Custodian Technology. Full descriptions of award categories and criteria are available here: https://events.wealthmanagement.com/categories/.
ii The 2020 Fidelity Financial Advisor Community COVID Series - Technology Study. The study was an online blind survey (Fidelity not identified) and was fielded during the period July 10th thru July 16th, 2020. Participants included 422 advisors who manage or advise upon client assets either individually or as a team, and work primarily with individual investors. Advisor firm types included a mix of banks, independent broker-dealers, insurance companies, regional broker-dealers, RIAs, and national brokerage firms (commonly referred to as wirehouses), with findings weighted to reflect industry composition. The study was conducted by an independent firm not affiliated with Fidelity Investments.
iii The 2020 Fidelity Financial Advisor Community COVID Series - Technology Study (please see above for details).