The Brazilian firm Consist recently found a key partnership in Flanks: the financial data orchestrator for family offices, financial advisors and financial institutions. This collaboration will help Consist make the most of Flanks by giving them a complete, global and up-to-date view of their clients’ wealth.
Consist is an independent Multi-Family office based in São Paulo, Brazil. The firm operates with an open investment platform with investments on and offshore. It currently deals with portfolios of both families and individuals.
To this day, the Brazilian firm has worked to have a complete and up-to-date global view of their clients’ financial products. That’s why the team agreed with Flanks to help them optimize their aggregation process.
It was exciting for us when we were able to improve our client's experience. Flanks allowed us to solve an old problem we have had, the access and standardization of the information of multiple custodians.
Renato Riga Ferreira, Partner at Consist Multi-Family Office
Thanks to Flanks, Consist will aggregate on a daily basis both the positions and operations of their clients’ investments from any custodian entity with a unique standardized format.
The Open Banking journey recently started in Brazil, and so far the forward moves the country has made on it have been remarkable. However, It is important to note that, although the regulation of Open Finance is moving forward, Open APIs for investment accounts are not ready yet and only cover the on-shore investments.
To this day, Brazil is one of the first countries in Latin America with an Open Banking strategy and legislation underway. By leveraging Flanks technology, Consist will manage to differentiate itself in the market.
Flanks is a wealth management company specialized in wealth data orchestration. Its solution works as a bridge between a financial advisor’s reporting tool and the custodian entities to aggregate clients’ wealth.
What Flanks does is to easily and effectively retrieve your investors' data from their custodian entity. Using advanced scraping technology such as reverse engineering, the solution is able to be much more effective and precise than traditional screen scraping systems.
The Flanks team is available to understand your needs in terms of wealth data aggregation for your consolidation tool. For more information, you can check out their website here and schedule an introduction call in four different languages.