Tier1 Financial Solutions is partnering with OpenFin to deploy its relationship management software across financial desktops.
Tier1 uses a SaaS-based platform that traditionally is run on a web browser, but the vendor will leverage OpenFin’s financial services-specific operating system (OS) in order to run the offering on desktops. It will also allow Tier1 to connect with other vendor applications to create a more robust customer relationship management experience without having to build those functions or connections internally.
“This collaboration with OpenFin will allow us to leverage interoperability and integrations that were once not possible without a significant investment in technology,” says Doug Christensen, Tier1’s vice president of strategy.
Mark Notten, chief executive officer and co-founder of Tier1, says the integration is already under way.
“We are continuing to componentize more capabilities as we progress through the roadmap, but we are ready now and clients can use certain components from Tier1 in OpenFin, such as Call Reports and Summary Cube,” he says. Notten adds that both engineering and product organization teams are creating standardized integration patterns and connectors.
Because the OpenFin OS standardizes applications, it essentially allows disparate applications to communicate with one another, which Notten says is vitally important as technology becomes more sophisticated. Instead of using APIs to pull data from existing systems and attempting to recreate their user interfaces, the OS allows customers to take applications they have already built and connect them together.
Kim Prado, global head of client insight, banking and digital channels technology at RBC Capital Markets, an early adopter in the desktop application interoperability space, says adding more tools that can connect to and communicate with one another helps banks’ innovation efforts. “Being able to interconnect our desktop applications together will improve our ability to service our customers,” she says.
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