Aggregation of client financial accounts and statements

Purpose

1.1. Automate collection, aggregation, and reconciliation of client financial account data (bank, investment, insurance) for financial planners.
1.2. Reduce manual entry, errors, and data silos by automating import and consolidation from multiple banking, brokerage, and financial platforms.
1.3. Enable seamless processing of client statements, transactions, and balances for deeper financial analysis, reporting, and planning.
1.4. Provide financial planners an automated mechanism for always up-to-date client financial snapshots.

Trigger Conditions

2.1. Automating data fetch on schedule (daily, weekly, monthly) to ensure data freshness.
2.2. Trigger automation on receipt/upload of new client statements or account credentials.
2.3. Automate initiation when a client portal update or new financial institution integration is detected.
2.4. Automated triggers for periodic compliance reviews or advisor reporting cycles.

Platform Variants

3.1. Plaid
• API: `/accounts/get` automates multi-bank account aggregation by fetching transactional and balance data.
• Sample: Configure with `access_token` for the client and schedule daily sync.

3.2. Yodlee
• API: `getUserAccountDetails` automates retrieving consolidated account details across financial services.
• Sample: Map user session token and automate nightly runs.

3.3. Intuit QuickBooks
• API: `Banking API` automates financial account imports for small business clients.
• Sample: Automate connection renewal and transaction fetch weekly.

3.4. Xero
• API: `/Reports/BankSummary` automates summary pulls of all linked bank accounts.
• Sample: Daily automation for statement aggregation.

3.5. Envestnet
• API: `/accounts/v1` automates real-time aggregation of held and held-away accounts.
• Sample: Use advisor credentials to automate data collection.

3.6. Finicity
• API: `Get Customer Accounts` automates data streaming from client financial institutions to planner dashboard.
• Sample: Triggered by new client login.

3.7. Salt Edge
• API: `Account Information` automates European bank account aggregation via Open Banking.
• Sample: Automated gathering for EU clients.

3.8. MX
• API: `Accounts Endpoint` automates precise, categorized account and transaction retrieval.
• Sample: Automated sync on client login.

3.9. FIS
• API: `Digital One` automates account aggregation from multiple banks/credit unions.
• Sample: Schedule nightly aggregation for all clients.

3.10. Morningstar ByAllAccounts
• Function: Automator for advisor-client bank, brokerage, and retirement account aggregation.
• Sample: Set to automate daily or as per client data refresh policy.

3.11. Zapier
• Feature: Automates importing statements as files/emails into CRM/Google Sheets for further aggregation.
• Sample: On file upload trigger, parse and route to aggregator sheet.

3.12. OneSpan
• API: `Document Parsing` automates extraction of structured data from uploaded PDF statements.
• Sample: Automate post-upload parsing.

3.13. Docparser
• Feature: Automates parsing PDFs of financial statements to structured data, routed to CRM or database.
• Sample: Automate workflow on new file uploaded.

3.14. Google Cloud Functions
• Function: Automator for triggered aggregation scripts on customer data events.
• Sample: Automated trigger on new data in GCS bucket.

3.15. AWS Lambda
• Function: Automate statement parsing and reconcile account information in serverless fashion.
• Sample: Automated execution upon file upload to S3.

3.16. Microsoft Power Automate
• Flow: Automates retrieving emailed statements, extracting info, and updating Excel or Dataverse.
• Sample: Automate on new Outlook email with attachment.

3.17. Salesforce Financial Services Cloud
• Integration: Automates account data ingestion via prebuilt connectors.
• Sample: Automate daily data workflows.

3.18. Oracle NetSuite
• API: Automates bank feeds and reconciliation in SuiteBanking module.
• Sample: Automated nightly feeds refresh.

3.19. Wealthbox
• Integration: Automates aggregation of client account data through API for planners.
• Sample: Set automated import schedule for each client.

3.20. Advent Custodial Data Networks (SS&C)
• API: Automates custodial account feed import for investment advisors.
• Sample: Automate reconciliation upon file receipt.

3.21. HubSpot
• Feature: Automates entry of statement summary data into custom objects for workflow triggers.
• Sample: Automatedly push extracted balances.

3.22. Notion
• API: Automates structured logging of account summaries from aggregator sources/materials.
• Sample: Automated creation of new client pages with latest account data.

Benefits

4.1. Automates time-consuming manual collection, freeing planner hours for advisory work.
4.2. Automated data consistency reduces errors and increases accuracy in reporting.
4.3. Always-on automation ensures up-to-date client financial insights and compliance ready records.
4.4. Enhanced security through controlled, automatable data acquisition processes.
4.5. Automation scales effortlessly with growing client base and institution list.