The Industry Leader in Account Aggregation: eMoney Connection Update

In today’s digital age, financial advisors and their clients rely on account aggregation tools to simplify the process of managing multiple financial accounts in one place. We understand the importance of having an aggregation experience you and your clients can trust, and are pleased to share that eMoney is the industry leader in account aggregation tools*

In recent years, significant improvements to eMoney data aggregation service have resulted in:

• 83% reduction of open tickets since 2019
• 36% reduction in annual connections-related support calls
• Average resolution time down to 15 days, from the previous average of 40 days

We continue to prioritize streamlining the advisor and client experience and provide you and your clients with an efficient and effective data aggregation experience.

Continue reading to learn about:

Our Commitment to Account Aggregation

We are unwavering in our dedication to enhancing connection stability so you can provide a complete financial picture for your client. With many financial accounts spread across different institutions, it can be challenging to manage them all and make informed decisions.

Bringing all of these accounts into one place allows for a more comprehensive view of your clients’ financial situation, and helps you to:

• Make more informed recommendations based on your clients’ complete financial picture.
• Gain a better understanding of your clients’ finances, making it easier for them to set and achieve financial goals.
• Identify potential issues, such as duplicate accounts or unauthorized transactions, which may have otherwise gone unnoticed.

Overall, account aggregation is a crucial tool for financial advisors and their clients to manage finances effectively, make informed decisions, and achieve long-term financial stability.

Recent Connections Updates

As the industry leader in account aggregation tools, we have always been committed to providing our users with the best experience possible. We are continually innovating and improving our platform to make managing financial accounts easier and more efficient. Learn more about some of the product updates we’ve made recently to deliver on this commitment.

• Connections dashboard – Streamlines connection management, making it easier to see all of the accounts that are aggregated in one place.
• Report a Problem workflow – Provides you with better insight and visibility into issues that may arise by showing conversation history associated with open connections tickets.
• Improved Visibility into Connection Status – Provides much-needed context to your clients while reducing the number of issues you report by gaining insight into known connection issues.
• Streamlined Client Connections Experience – Provides you with a clear picture of the health and status of your clients’ connections, as well as a simplified account view from the client site, to easily identify connections that may need attention.

API Progress

APIs create a seamless flow of data by enabling two systems to interact and connect securely without the need for login credentials. As of Q1 2023, 83% of eMoney connections are aggregated via API’s. This “view only” access to account data ensures data collection and copying, while preventing any unauthorized transactions. We have achieved substantial progress in migrating the most-used major institutions to API-based connections since 2020, including:

• Wells Fargo
• Transamerica
• Allianz (Client Access)
• Allianz (Advisor Access)
• KeyBank
• Empower
• Fidelity – Including Fidelity Investments, Fidelity NetBenefits, and Fidelity Charitable sites
• Black Diamond – major performance improvements

In our ongoing efforts to support you, API progress constantly is moving forward with highly used institutions such as TD Ameritrade accounts which will be converted to Schwab API in September of 2023.

Parser/Screen Scraping Progress

While many connections have transitioned to APls, some work better as Parsers**. Because of this, we are also dedicated to enhancing the usability of our Parsers to ensure seamless data aggregation. Since 2020, we have expanded to over 1,300 connections, including highly requested institutions such as iBanking, Truist, and Eastern Bank.

Key Resources

Additional resources on connections and APIs can be found in the Help menu on your advisor dashboard. Below are a few of our favorites:

• Connections FAQ
• What You Need to Know About API Based Connections
• Your Guide to Data Aggregation
• Advisor Connection vs. Client Connection

You can also bookmark the Product Update page, where we will provide quarterly updates on connection enhancements.

*2023 T3/Inside Information Advisor Software Survey Results

**Parser connections are a form of screen scraping. Screen scraping is a process in which software extracts data from the user interface (UI) of a website or application, typically by simulating user interactions to mimic the scraping of information displayed on the screen.