Dispatch has opened up its wealth operations platform to the wider industry by launching the Dispatch API. The new API allows companies to embed important custodian workflows into their products. The platform is aimed at wealthtech companies, fintech providers and technology-focused registered investment advisors (RIAs). This allows these businesses to tap into Dispatch capabilities within their current technology experiences. Account opening is the first capability of the Dispatch API. As Dispatch expands the platform, more capabilities will be added.
The launch solves a huge problem in the wealth management technology space. More and more, companies want to take control of workflows that are directly tied to revenue. But the infrastructure needed can be expensive and complicated to build. Businesses need to integrate with multiple custodian systems and manage financial data from various sources. They also need to standardize and reconcile information before they can run critical workflows. Also, firms must validate data against complex custodian requirements.
The process can require multiple operational channels and strong governance. Therefore, many technology providers face significant development and maintenance demands. The Dispatch API offers another approach. Companies can adopt existing infrastructure instead of building those capabilities internally. As a result, technology providers can direct more resources toward their products and customer experiences. They can also bring new operational capabilities to market faster.
“Dispatch has always been focused on making a firm’s data usable and turning that data into action,” said Rob Nance, co-founder and chief executive officer of Dispatch. “We proved that our platform can do this inside some of the largest RIAs in the country, supporting the operational workflows that directly drive revenue for their businesses. The Dispatch API is the next chapter of that story: opening the infrastructure we have already built so other companies can bring execution into their own products without having to recreate it themselves.”
Dispatch API Connects Critical Wealth Workflows
Technology-driven experiences are becoming increasingly important for advisory firms. These experiences can help firms generate revenue more efficiently. At the same time, wealthtech companies continue transforming advisor and client experiences. The Dispatch API gives these companies infrastructure for developing new workflows. The platform supports more than a basic API connection. Dispatch combines five important layers within its infrastructure.
These layers include the translation layer, ontology, firm graph, agentic action, and audit and control pane. Together, these components help technology companies translate information between systems. They also help companies understand relationships and context within a firm. Furthermore, the platform enables companies to execute operational actions. It also maintains controls and auditability for revenue-critical workflows.
This structure gives developers access to infrastructure already designed for wealth operations. Therefore, companies can focus on creating new technology experiences. Account opening serves as the first use case for the Dispatch API. More platform capabilities are expected to become available over time. The launch also creates new possibilities for advisor technology providers. They can integrate custodian execution into workflows their customers already understand.
Jump and Wealthbox Adopt Dispatch API
Jump and Wealthbox are the first two software companies using the Dispatch API. Both companies have embedded account opening directly into their existing advisor experiences. However, each integration approaches the workflow from a different starting point. Jump provides an AI platform for advisors and financial services professionals. Through Jump, advisors can open a custodian account during a live client call.
The workflow can turn an account-opening process that previously took hours into minutes. Jump converts the client conversation into an end-to-end account-opening workflow. The platform combines information shared during the meeting with existing firm data. Dispatch then validates the application against custodian requirements.
After validation, the workflow supports signing before the meeting ends. This process eliminates repeated data entry across disconnected systems. It also reduces the need for advisors to hand work between different platforms. Consequently, advisors and home-office teams can support more clients.
“Advisors should not have to leave the conversation, reenter information across multiple systems and manually initiate the next step for a client,” said Parker Ence, co-founder and chief executive officer of Jump. “By building on the Dispatch API, we’re enabling real-time account opening directly from the advisor workflow, connecting the intelligence captured during a client meeting with the infrastructure needed to execute that next step. This creates a more seamless experience for advisors and their clients, while relying on Dispatch to manage the complexity of custodian validation and execution behind the scenes.”
Wealthbox Brings Account Opening Into CRM
Wealthbox takes a different approach through its customer relationship management (CRM) platform. Advisors can initiate an account directly from the client record they already use. Wealthbox provides the client information required to begin the account-opening process. Dispatch then validates the available information. It also confirms that the account meets applicable custodian requirements.
Next, Dispatch routes the submission through the appropriate channel. The platform also tracks the submission through the funding process. This integration reduces the need to move client information between separate systems. It also helps advisors avoid manually entering information that already exists within their CRM.
“Every account opening starts with the client information already living in Wealthbox, the source of truth advisors rely on,” said John Rourke, co-founder and chief executive officer of Wealthbox. “Building on the Dispatch API means that information does not have to be copied into a separate system to get an account opened. Dispatch takes what is already accurate in the CRM and carries it through custodian validation and execution, so the advisor’s next step is confirming, not retyping.”
The Dispatch platform already supports account opening and advisor transitions for major RIAs. Half of the ten largest RIAs currently use Dispatch for these workflows. Furthermore, hundreds of thousands of accounts have been opened through Dispatch rails. Tens of billions of dollars in assets have also moved through the platform. These figures demonstrate Dispatch’s existing role in wealth operations. They also highlight its experience supporting account opening at major U.S. custodians.
The company plans to make additional platform capabilities available through the Dispatch API. Therefore, the launch marks an expansion of Dispatch’s infrastructure beyond its existing users. For wealthtech and fintech companies, the API provides a way to integrate operational execution directly into their products. Meanwhile, advisors can access more connected workflows without switching between multiple systems.
As wealth management technology continues to evolve, embedded operational infrastructure can become increasingly important. Dispatch is positioning its API as a foundation for the next generation of wealth technology.
Looking for more updates on financial innovation and revenue-driven technology? Visit RevTech News for expert insights and the latest trends.
News Source: Businesswire.com
