Amazon, Whole Foods, and financial services technology

October 16, 2017 by Sean Marus

A team of developers leverage APIs to enhance client experience.

About the author

Sean Marus

Product marketing specialist

With years of experience in product marketing and content generation in the financial services industry, Sean is committed to providing informative and impactful content to financial professionals and the clients they serve.

Recently, international powerhouse Amazon purchased the popular supermarket chain Whole Foods. This is just the latest merger of consumer-centric providers and brick and mortar stores. The future of consumer-centric grocery shopping and delivery is right before our eyes. Furthermore, this merger will change our shopping habits and expectations.

The same continues to be true for the financial services industry. The last few years has seen a ton of merger and acquisition (M&A) activity across IBDs, RIAs, and banks. Less obvious, however, is the activity in the tech space. Tech providers continue to look for integrations, partnerships, and M&As to build out platforms that blend the traditional financial services and a better consumer experience.

Finding success through web services

A large part of the success Amazon has seen is due to its platform approach, powered by its APIs. As Joshua Seiden explains in MarketWatch, “The not-so-hidden secret superpower behind Amazon is that it isn’t a retailer. It is not an e-commerce company. It’s a platform” The developers at Amazon build every bit of the platform as a software-as-a-service solution. This allows other developers at Amazon to build something new and outside developers to leverage the existing APIs through Amazon Web Services.

At Advicent, we see our API library as the future for enterprise organizations who want to deliver more meaningful financial advice. Just as Whole Foods will leverage Amazon Web Services, enterprise firms who partner with Advicent will leverage API technology to create a better consumer experience. The new APIs will enable firms to incorporate financial planning into unique and engaging digital offerings, such as wealth management portals, lead generation tools, or financial planning portals.

This blending of brick-and-mortar institutions that we serve and the consumer-centric technology Advicent provides will be a core strategy for our partners moving forward.

Harnessing industry-leading API technology

Advicent announced its new global API developer portal to seamlessly connect developers with the NaviPlan® APIs and empower them to build innovative, custom financial planning solutions faster than ever before.“With the shift in how advisors communicate with their clients in today’s market, firms need technology that can keep up with client demands,” said Tony Stich, COO at Advicent. “Creating a branded digital client experience with APIs helps firms remain competitive and reach a broader range of consumers seeking a mixture of self-directed analysis and human interaction.”

Firms and integration partners can review the NaviPlan APIs documentation, learn more about sample API use cases, and make mock API calls via the Advicent website.

To learn more about the new NaviPlan APIs, visit the Advicent developer portal.