Bricknode Broker is one of the first cloud based business system for financial institutions that can offer PSD2 compliance right off the shelf. Bricknode Broker includes an open api that financial institutions can offer their partners to use.
Securities brokerage firms are constantly looking for ways to improve the value for their customers. With the advent of PSD2-regulations financial institutions are being forced to open their systems to the world. This should not be viewed as a bad thing for financial institutions but instead the opportunity should be embraced.
FinTech innovators are knocking at the doors of the financial institutions each day with hopes of getting users of their products. One of the main hurdles is that traditional back office solutions has not had an API and thus it would be a costly, or near impossible, project for a financial institution to get this done in their legacy system.
Bricknode Broker has six years on the market and are one of the first cloud based brokerage systems that has an open API where brokers and their partners can access anything from payments to stock trades and securities information. Financial institutions can open themselves up to FinTech companies and other partners for integration and offer their unique solutions to the customers of the broker or the broker itself.
Securities brokers often has associated financial advisors as partners who will benefit greatly from this feature. Through Bricknode Broker’s API the broker is able to offer its advisors a way to build their own applications that can face their customers and generate more sales through a better consumer experience. The advisors could also go mobile with their own offerings which the broker is enabling. This creates a high level of satisfaction and freedom among the whole network of partners to the broker and increases the potential range of services and applications without increasing the costs.
Bricknode Broker is offered as an off the shelf online solution where brokers can get instant access to the system that they can configure according to their needs.
“Bricknode has always been an advocator of openness and we want to empower our users to do business on the Internet with total freedom to connect to others. PSD2 is a confirmation that regulators are sharing our views as well.” says Stefan Willebrand, CEO and Co-Founder of Bricknode.
The financial industry is currently going through the most significant change since mutual funds were introduced. Financial Technology (FinTech) innovations are adding services that focus on usability and value.
Bricknode wants to put the Fun in finance and has established a FinTech Ecosystem where the participants in the financial industry can meet and create value for each other and their customers.