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Iress teams up with financial aggregation software

Iress teams up with financial aggregation software

Financial technology business Iress has integrated its Xplan financial advice software with Moneyinfo.

Moneyinfo is an aggregation software provider already used by a number of Iress clients to access to their clients' entire finances in one place.

The integration will mean data keyed into one system will be available in the other, reducing errors and making both systems easier to use.

Mark Loosmore, Iress executive general manager for wealth, said: "Making the right functionality available to our users, whether that’s directly through our products or through quality integrations, is critical.

"We’re delighted to be able to offer our clients a comprehensive integration with another leading provider of financial software of Moneyinfo’s calibre. This is the first two-way integration between Moneyinfo and a software provider such as ourselves.

"We continue to expand our integration partnerships and we will be adding further integrations in the coming weeks and months."

The integration is one of a number of similar arrangements Iress has reached with third-party software providers, including video conferencing software and banking account verification.

Tessa Lee, managing director of Moneyinfo, said: "We are pleased to announce our selection as an integration partner with Iress's XPlan. We have a number of Iress accounts already live on Moneyinfo with our existing integration with its Adviser Office software solution. Extending this integration to include XPlan users is very important for us.

"This partnership is particularly exciting as it will include two-way integration allowing Moneyinfo to get up to date investment and plan valuations from, and deliver messages and documents back into, XPlan to ensure adviser firms can see a full audit trail of all correspondence."

Martin Bamford, a chartered financial planner with Informed Choice, said: "We always ask our clients for details of their income, expenditure, assets and liabilities so we can keep their financial plans updated. The ability to automatically draw information from bank accounts would make this process far easier and give us a more comprehensive view of personal finances.

"With the recent introduction of Open Banking, software providers like Iress could dramatically improve the service we offer to our clients by integrating bank accounts with their planning software."