What is it?

Home banking integration (HBI) means that all of a financial institution’s customers’ financial assets are visible to the client on one page and are accessible via a single login. Enlisting “single sign on” technology provides the ability for a bank or credit union investment client to view his/her full portfolio of investments alongside deposit and loan information in home banking.  When using a truly integrated home banking tool, the client needn’t log into a separate website to see a summary of investment holdings. Rather, a recap of investment assets through the broker dealer is incorporated into a view of the client’s overall relationship with the institution. This consolidated view is delivered using only the user name and password required to access the institution’s online banking platform.

Don’t all broker dealers offer this? 

Not really. Many will suggest that they offer it, but what they offer isn’t true HBI. Often they are supplying a screen scrape from a third party vendor that is simply a visual representation of static data in a screen clients can only look at; the user cannot run reports on it or see real time activity.  Furthermore, if the client has mutual fund or other financial accounts with several vendors, the client would need to load their personal username/password for each of them into the aggregation tool. Every time the client changes passwords, he would need to change that data on the aggregation platform, too.  Not only is this inconvenient for the client, but screen scrapes usually are not current information either, therefore the client is not seeing up-to-date data.  Typically, account activity and historical statements are unavailable and minimal detail is given. From the financial institution perspective, this screen scrape information adds no advantage to the bank or credit union because they are unable to private-brand it. No details, no immediacy, no private labeling – this is a clumsy workaround not appropriate for sophisticated institutions.

Why ours is different – and better!

Our home banking integration offers a fully-integrated capability that can be private-labeled by the financial institution and accessed through single sign-on technology by the client. With CFS or SPF as the broker/dealer, all of a client’s assets, position, historical activity and positions associated with our broker dealer (no matter whether they are held through a brokerage account, by a fund or insurance company or in a fee-based managed account) are pulled onto the HBI platform automatically any time he logs into online banking. Historical data is unlimited for as long as CFS or SPF has been broker dealer. Brokerage statements, confirms and tax statements are also provided to the client to save time and frustration in finding frequently needed information. 

It is unnecessary for the client to upload any passwords or account information because the account data is fully integrated in our database and it includes account level detail with intraday, nearly real-time, activity. In addition, the client’s financial advisor is seeing the same portfolio information for the client’s investment accounts on our advisor platform, dataVISION®.  This makes it easy for advisors to have phone discussions about the holdings and what changes the clients might like to make in their accounts. dataVISION provides the foundation for our technology systems, and is a fully electronic, web-based account management system that simplifies administration, communications, sales, and reporting functions. This proprietary technology was designed from the outset to efficiently handle both front and back end administration, organization, and management of accounts - all electronically. If the advisor uses our wealth reporting and performance tool, these reports can be posted directly to the HBI page for sharing with the client in a secure environment as well. Having all assets so easily accessed on one platform encourages your customers to bring assets held away at other BDs to your financial institution.

The HBI feature can be incorporated on your banking platform, privately-branded, and fully accessible 24/7. When your financial institution offers HBI, even if a customer does not have an investment account with you through CFS or SPF, you can place messaging or marketing information in the space where investment asset information would be reported on the screen, encouraging the clients to consider putting investments under management at your institution.  Investment portfolio information integrated with home banking – as it was meant to be!