RIA Compliance and Practice Management Blog

RIA Compliance Software Feature Release: Open Compliance API

Posted by RIA in a Box

Feb 18, 2020 9:26:54 AM

investment adviser compliance open apiOne of our company's longstanding commitments is investing time and resources to make the RIA in a Box service more valuable to the clients we serve. Since launching MyRIACompliance® in 2014, we have sought to make our service more efficient and higher quality by combining our human expertise with new tools and features. At RIA in a Box, we release new compliance software features and enhancements on a daily basis.

Learn More About Our Open API Famework

Our Recent Release: Open API Framework

To manage day-today-business operations, RIA firms commonly utilize multiple technology systems. While these technologies can be extremely beneficial, the use of multiple systems can lead to inefficiencies when data is unable or difficult to transfer from one system to another. To eliminate this barrier for RIA firms, RIA in a Box has released an open application programming interface ("API") for no additional charge. Firms can access their compliance data via the API to help better automate internal processes and data management. Technology firms can utilize the API to push and pull relevant compliance data to and from the MyRIACompliance online software platform. This is the first-of-its-kind open API for the RIA industry to help firms automatically manage and share compliance information across multiple third party technology systems. 

Benefits

Consistent Filings

Through the MyRIACompliance® open API framework, third-party technology providers are now able to integrate directly into the system allowing from seamless data transfer from one system to the other. Through the Registration Checker, portfolio management systems including Black Diamond, Morningstar, Orion, and others have the ability to utilize the open API to track registrations and notice filings in real-time ensuring consistent and accurate filings. 

Completion of Compliance Tasks

By pulling data from the MyRIACompliance® Compliance Calendar into CRM systems such as Salesforce and Redtail, users can mark tailored compliance tasks as "complete" directly through their CRM system and vice versa. This eliminates the need to login and complete compliance tasks in two different systems, enabling an RIA firm's Chief Compliance Officers ("CCO") to better streamline their compliance operations and increase engagement with clients. All completed activities in either system will be archived in the MyRIACompliance® Compliance Log for easy retrieval in the event of an audit. 

Real-Time Monitoring

MyRIACompliance® monitors and makes updates to the Compliance Calendar on a real-time basis, allowing users to have access to the most up-to-date information in each system utilized within their compliance workflows. 

Cost? 

The open API framework is the latest new MyRIACompliance® feature available for no additional charge. To learn more about the complete features and pricing of the MyRIACompliance® platform subscription click here.

Schedule a Demo of MyRIACompliance

 

Topics: RIA Compliance, RIA Technology

RIA in a Box LLC is not a law firm, investment advisory firm, or CPA firm. RIA in a Box LLC does not provide legal advice or opinions to any party or client. You should always consult your relevant regulatory authorities or legal counsel if applicable.

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