Money.Net Taps OpenFin to Increase Desktop Exposure

OpenFin allows banks, brokers, asset managers and hedge funds to build their own desktops by picking best-of-breed components from “hundreds” of applications using OpenFin’s operating system, which also enables Money.Net to leverage those other applications as vehicles to distribute its data.

Money.Net CEO Morgan Downey says the move exposes the vendor to a potentially broader client base without cannibalizing its existing terminal base. “The OpenFin enablement makes Money.Net software available to almost 200,000 OpenFin users. So the benefits vastly outweigh the minor cost to Money.Net of deploying at large banks,” he says.

The integration delivers seamless installation, updates, and interoperability with other applications on OpenFin, and enables a “native application experience” for web-based applications that don’t require a software installation. To take advantage of it, firms must be clients of both Money.Net and OpenFin, though Downey says there is “nothing special” that clients need install for the two products to work together.

“OpenFin is a piece of middleware software run at large banks that is transparent to the end user. The end user simply sees Money.Net able to interact with other approved software on the user’s desktop. Also, it makes a web-based app like Money.Net appear like a natively installed desktop app. The end user gets a much smoother and integrated experience,” Downey says. “In fact technically at a large bank it is easier to run Money.Net with OpenFin running silently in the background without the end user even being aware that OpenFin is running.”

“We want to make it as easy as possible for fintech firms, banks, buy-side firms and hedge funds to build and deploy new applications quickly and efficiently, directly onto permissioned desktops,” says OpenFin CEO Mazy Dar. “When a user adds Money.Net to their workflow, they’re getting real-time content that informs better decision making and ultimately drives better performance.”