APIs are the Product

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11 January 2018
Kelley Byrnes

Even in wealth management, APIs are no longer a means to deliver a product; APIs are the product. Digital B2B platforms are not new to wealth management, but it seems that increasingly companies are pivoting to selling their API as a business rather than using APIs as a means to deliver their product.

Third Party Technologies, Tradier, Folio Investing and DriveWealth are registered broker dealers that sell their API to financial institutions. In the last few months, I have also come across wealth management-focused companies pivoting to sell their API as their product. One company, FinFolio, which sells portfolio management software, is now selling its API newly branded as to small and medium-sized wealth managers. The automated investment advisor, Hedgeable, has created a separate standalone company called Hydrogen to sell its API to enterprises. In my latest report, The Wealth Management API Economy: B2B Platforms and APIs to Extend Reach, I discuss in detail the Hydrogen and examples, and also look at complementary products to digital B2B platforms, which stand to gain as wealth managers adopt API-powered platforms.


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North America