Today‘s connectivity between custody banks and portfolio management systems (PMS) resp. external asset managers (EAM) is mostly proprietary, with a single data exchange per day (end-of-day) and includes manual steps in the process. This results in an increased error rate as well as additional costs to maintain the different interfaces. Standardized interfaces in wealth management are therefore desirable and lead to advantages for all involved parties. It is such REST-APIs (Application Programming Interfaces) in wealth management that the OpenWealth Association is developing to create a standard which is business-oriented, broadly accepted and based on known industrial norms.