Aberdeen Adviser partners with Criterion and ZeroKey on platform integration

Aberdeen Adviser has partnered with Criterion and ZeroKey to introduce a new standards-led integration, aiming to create a smoother digital onboarding experience.

Using Criterion’s Platform Account Opening Standard and ZeroKey’s integration technology, Aberdeen will look to enable a consistent flow of client and account information between adviser systems and its Wrap platform.

The integration has been designed to help reduce adviser rekeying and create a more streamlined digital onboarding service for clients.

Criterion’s Platform Account Opening Standard outlines how the information required to open platform accounts should be structured and exchanged, while ZeroKey’s technology allows that information to move between systems.

Aberdeen Adviser said that, by improving the flow of client and account information, data quality will be improved and avoidable friction when a client is ready to open an account, top up, or transfer will be reduced.

The partnership supports Aberdeen Adviser’s digital strategy to enable more advisers and their system to connect, and provide a more consistent and efficient client service.

“By adopting Criterion’s Platform Account Opening Standard and working with ZeroKey’s integration technology, we’re helping to remove unnecessary rekeying, improve data quality and reduce friction at a critical stage of the client journey,” said Aberdeen Adviser chief product and technology officer, Derek Smith.

“Importantly, this is a standards-led approach that gives us a scalable and sustainable foundation for future connectivity, enabling more adviser firms and technology providers to integrate with our Wrap platform in a consistent way.

“This is another step forward in our digital strategy to simplify processes, increase efficiency and help advisers deliver a better experience from day one.”

Criterion managing director, Billy Burnside, added: "API integrations are now the norm across the platform market, but the industry should not confuse connectivity with progress.
“Without common standards, firms can still end up building and maintaining every integration differently, adding cost, complexity and duplication over time.

“The Platform Account Opening Standard gives API-led integrations a consistent but flexible structure, designed to support different approaches to account opening.

“Aberdeen’s use of the standard shows how platforms can support smoother onboarding today and make future integrations with adviser systems easier and more cost-effective."

---