In 1998, EEI launched EnterpriseFTX™, a software solution designed to conduct all traditional banking and payment-related functions from a single interface. Today, EnterpriseFTX™ has morphed into, EEI Tax Navigator™ and EEI Commander™, which when combined, can support all products within a retail bank, wholesale bank, capital markets and wealth management–capabilities that no other product on the market has. Tax Navigator™, EEI’s only cross industry product with several government agencies as clients, enables automatic tax data downloads and distribution to any tax management and reporting platform. Tax Navigator™ is a subset of Commander™, EEI’s flagship product. Commander™ leverages data from a Financial Institution’s internal platforms to provide accurate, timely and secure automated access to financial information. This enables the delivery of data to a wide range of FinTech applications customers are using, including Quicken®, Mint, QuickBooks™, Xero™ and hundreds of other channels. Chances are, the average person is using EEI’s software today and does not even realize it.
However, what truly distinguishes EEI in the industry today is its illustrious product, the Trusted Network Platform™, a cloud solution with the ability to aggregate “assets held away” across multiple Financial Institutions. Often, clients distribute their total assets among multiple wealth management firms to minimize risk.
Chances are, the average person is using EEI’s software today and does not even realize it.
With financial advisors only seeing a fragmented view of a client’s assets, it is impossible to provide holistic financial advice. Using EEI’s Trusted Network Platform™, Financial Institutions can now provide a secure, accurate, real-time, holistic view of their clients’ data utilizing internal and held-away assets.
Looking to the future, Anderson is most excited about EEI’s growing exposure in the API market. Anderson explains that Financial Institutions must be careful and thoughtful about their decisions surrounding API-based data sharing agreements. His goal is to standardize data sharing “APIs offered by these Financial Institutions are widely different from another, and therefore the implementation process is different each time.” Financial Institutions find it complicated to comply with the manifold standards in the financial space while implementing APIs. To solve this predicament, EEI has architected the FS-API™—a real-time, multi-protocol, multi-channel API that acts as a universal connector. “EEI has developed systems for the major FinTechs and Financial Institutions. We’ve been doing this a long time. Our API is constructed to provide an “insurance policy” and layer of protection to anyone who is using it. If you leverage our API, you won’t worry about scale or one-off implementations – we abstract you from all of that,” says Anderson. Looking to the future, Anderson is confident that the robustness of FS-API™ will become a differentiating factor for EEI in the FinTech space.