SALT LAKE CITY, March 23, 2021 (GLOBE NEWSWIRE) -- CapitalROCK announced today that firms can now integrate RightBRIDGE regulatory and compliance validation into their existing workflows. The RightBRIDGE Validation API allows data collected in other platforms, like account opening or order/entry applications, to be run through the configurable RightBRIDGE compliance rules engine with no additional steps by the financial professional. CapitalROCK President John Hyde said “As regulations mount, firms need to capture, review and document more information than ever before. Integrating existing account opening processes with the RightBRIDGE API allows firms to improve their risk profile without drastically altering the financial professionals account opening experience.”
The RightBRIDGE API creates a report that can be sent back to the originating platform or sent on to a suitability review system. Reports either confirm that a proposed sale has met the licensing firm’s best interest policies or explain where the proposed sale falls short. Reports include ReasonText™ which is an exclusive RightBRIDGE feature that explains the results of the analysis in plain English.
In addition to providing validation scoring for products selected by financial professionals, broker-dealer users will find value in the RightBRIDGE API providing Reasonably Available Alternatives (RAA) from their product shelf. Using RightBRIDGE for RAA ensures that the alternatives are logical products selected because of their likelihood of meeting the client’s needs. This also ensures that reps are evaluating alternatives from the “top of the stack”.
The RightBRIDGE Validation API can be used in support of the following regulations, rules or standards:
| • | Reg BI compliance including Reasonably Available Alternatives (RAA) | |||
| • | Product Type and Account Type Suitability | |||
| • | Specific Product Scoring for Annuities, Mutual Funds and ETFs | |||
| • | Rollover Analysis for the new DOL Rule | |||
| • | FINRA 2111 Suitability | |||
| • | New York Reg 187 (Life Insurance and Annuities) | |||
| • | NAIC Model Regulations | |||
To learn more about RightBRIDGE Validation APIs visit capitalrock.com or contact sales at (804) 495-3644
About CapitalROCK: CapitalROCK, LLC provides rule-based product validation / selection tools and needs-based customer analytics to the financial services industry. CapitalROCK was founded in 2007 by a group of industry experts that have been building customer relationship and wealth management solutions for the financial services market for more than 30 years.
Media Contact: Connor Thomas | cthomas@capitalrock.com | 804-495-3644