Over 150 direct-connect data feeds
Class provides over 150 direct-connect data feeds for banks, brokers and wraps.
Data feeds allow automation of data entry, saving time and greatly improving productivity. For example, if an investment portfolio has a bank account and a share trading account, the relevant data will come in instantly overnight and all purchases and sales are matched to the cash transaction, and automatically processed.
Class data feeds come directly from the source, without any manual intervention, so you can be sure that the data is accurate, secure and timely.
The feeds provide:
- Automated data entry for hundreds of banks, brokers and wraps
- Daily valuations and market data
- Automated processing of income entitlements
- Daily reconciliation of transactions and confirmation of quantities
- Access to historical transactions when setting up selected feeds
- Instant tax statements for selected wraps
- Feeds monitoring and tracking.
Here are some commonly asked questions about data feeds.
What is a direct-connect data feed?
Direct-connect data feeds come directly from the financial institution into Class, via an enterprise-grade, secure and encrypted link.
They’re purpose-designed and provide highly reliable, encrypted data over a point-to-point connection that can’t be intercepted, lost or diverted.
Is an e-mail data service similar?
E-mail based solutions are a cheaper but unreliable alternative to direct-connect data feeds. They involve the account holder getting their financial institution – usually a broker or fund manager – to send e-mails with data and/or PDF attachments to an e-mail inbox, that’s read by a third party data feed provider.
These e-mails are generally just copies of the same PDF notices that would be sent to the account holder or adviser, and the third party data feed provider uses software to ‘scrape’ the data from the e-mail and PDFs. Computers can have difficulty reading documents, and this can lead to significant error rates.
‘Scraping’ errors are dealt with by manual operators, and these operators re-key the data which may then also introduce manual keying errors.
E-mail scraping data feeds rate poorly, because e-mails:
- are not encrypted – data is sent ‘in the clear’ over the public internet
- are not authenticated – they can be sent from any source
- do not guarantee delivery – lost e-mails can go undetected and introduce further error
- can be redirected to another address, altered and resent without detection.