SALT LAKE CITY, Utah, Dec. 12, 2014 (SEND2PRESS NEWSWIRE) — North Capital Investment Technology has released TransactAPI 2.0, the first comprehensive transaction platform for funding portals, broker-dealers and private issuers.

TransactAPI 2.0 (TAPI 2.0) is a software as a service solution designed to facilitate the offering, transaction and settlement of private offerings. The API can be seamlessly integrated into any website offering private securities.

The North Capital Investment Technology (NCIT) service platform provides compliance support related to investor onboarding secure document dissemination, trade processing, payments, escrow, post-transaction processing, record keeping and reporting. Compliance support for onboarding will include Know Your Customer (KYC), Anti-Money Laundering (AML) and Office of Foreign Assets Control (OFAC) checks.

“We recognized a need to offer a solution with robust compliance support since we are serving other broker-dealers as well as funding platforms,” said NCIT Managing Director Jim Dowd. “Our team has a deep domain knowledge with over 30 years of experience in private markets. We designed a platform that allows users to meet regulatory requirements and adhere to industry best practices.”

Dowd said that NCIT is working with two major portal platform software vendors to expedite the TAPI 2.0 rollout.

“We started the design of TAPI around the Bancbox payment platform, but currently we have opened up the API to work with a number of providers,” he said.

NCIT has been converting its existing funding platform partners to TAPI 2.0 over the past few weeks. All new clients will integrate directly with the latest version. Over the coming months, TAPI 2.0 will integrate with Wall Street custodial systems, portfolio accounting systems and other software services.

“TAPI 2.0 is designed to facilitate distribution,” said NCIT Managing Director Craig Goos. “It will streamline the offering process, compressing the sales cycle while saving time and money. For issuers who wish to connect to our network of investors, we can expand the available pool of capital for their offerings.”

In 2015, NCIT plans to add automated accredited investor verification by incorporating functionality from the firm’s Accredited.AM website, a new platform launched in October that verifies accredited investor status free of charge.

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News issued by: North Capital Investment Technology

North Capital Investment Technology

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Original Story ID: 2014-12-1212-001 (9851) :: north-capital-investment-technology-launches-transactapi-2-0-2014-12-1212-001

Original Keywords: automated accredited investor verification, Jim Dowd North Capital Investment Technology Salt Lake City Utah SALT LAKE CITY, Utah

Alternate Headline: TransactAPI 2.0 is First Transaction Platform for Funding Portals, Broker-Dealers and Private Issuers

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News Source: North Capital Investment Technology