Open Finance, LLC is a leading enabler of data aggregation in the financial services industry. Open Finance gathers fine grained financial data from disparate sources and aggregates this data into a distributed global services platform in a common, extensible XML format (PAIX).
In doing so, Open Finance has developed an architecture that is both robust and flexible in its ability to aggregate data from multiple financial data sources in a variety of formats and provide that data to clients via its services infrastructure across the Americas, Switzerland and Asia.
Once the data is normalized and stored, it can be moved and operated upon through all types of systems which include accounting engines, risk engines, performance engines, pricing engines, CRM systems, and reporting and web access systems.
This flexibility and focus on the seamless integration of all manner of data has enabled Open Finance to deliver its global services platform across five financial sectors (Wealth management, Risk and Performance management, Corporate Retirement, Plan Consultants and Foundations, Registered Investment Advisors).
The information systems of a dynamic economy must be responsive to the need for integration and transparency as well as to the need for security and privacy. To meet these objectives, the Open Finance processes create multiple views of the formerly complex financial data.
Having such control over data allows Open Finance clients and their customers to rapidly provide unparalleled service and reporting while maintaining absolute control of their brand and identity Reduced costs, time to market and implementation risk are only a few of the benefits Open Finance clients and their customers have come to expect.
Open Finance has helped large financial institutions merge, and has helped several financial services firms provide consolidated reporting to family offices, multiple family offices, IFAs, RIAs, plan consultants and the corporate finance community.
In addition to core aggregation services, Open Finance TradeStream advances the straight-through settlement process by securely transferring trades and sub-allocations from investment managers to custodial banks through our partner Omgeo and their TradeHub service.
Open Finance also developed and maintains the software for the collection of data, clearing and reporting for the Chicago Climate Exchange (CCX)
