The new feature, named the Application Programming Interface (API), will allow advisers to use different software applications with its own data, AdviserLogic said.
The launch of the API tool comes off the back of research conducted by Investment Trends, which revealed 88 per cent of advisers are seeking integration enhancements that benefit their business.
“What we have created is an open system. Users can now send a message to our server which sends data back to them or, conversely, sends data to us. The API ensures data is encrypted both ways,” AdviserLogic’s head of product development, Daniel Gara, said.
“We want our users to enjoy what we offer, if they think it’s right for them. Different advisers will want different features but the ultimate aim is always increased efficiency – that’s the whole point of employing fintech and robo-advice.”
Mr Gara added that in launching the API, AdviserLogic had to learn to “let go” of being involved in every part of the advice process.
“The fact is, we don’t need to be intimately involved in everything our users do with the technology we provide to them, and if we try to control the way they use it, we may be stifling our own development – because some people might use our technology in ways we haven’t even thought of,” he said.
“So, bottom line, if our users want to do something different, we won’t stop them.”
