Being able to connect to any custodian entity around the world in an easy, fast, and safe way enables financial platforms to offer a more diverse range of financial products to their users. This grants them with more options to choose from, and can help them build a well-diversified investment portfolio. And this is one of the goals that Njorda wanted to reach in its mission to provide a superior investing experience to a broader retail audience.
In this document, we will explore the use case of Njorda and its integration with Flanks' power to automate and scale connections with custodian entities. Let’s take a look at how his joint solution has the potential to revolutionize the retail investing experience globally.
The added value
Njorda is a Stockholm-based fintech that aims to empower customers with a wide range of plug-and-play investment solutions. They focus on innovation and technology to provide beautifully designed guides, analytics, and personalized notifications. And as the team embarked on its international expansion journey, it began looking for a trustworthy partner to fulfill its investment data aggregation requirements. And that's when they reached out to Flanks.
Combining Flanks' automation capabilities with Njorda allowed financial advisors to easily view view their investments and track performance in real-time, as well as share the same information with their clients. This eliminated the need for manual data collection and reconciliation, providing customers with comprehensive and detailed data to make the right investment decisions. Here’s exactly how they did it.
What challenge does it solve?
Flanks serves as a vital link between financial advisors' reporting tools and custodian entities. It offers Njorda's users the ability to seamlessly aggregate all financial data directly from the core banking system of their preferred custodian entity, with minimal interaction and hassle. The information is standardized in accordance with Flanks' data model, and then transmitted directly into the Njorda application tool, presenting customers with comprehensive and standardized information that they can easily consume. By meeting Njorda's requirements of providing users with a holistic, 360-degree view of all their financial assets, Flanks fulfilled its role successfully.
Flanks successfully helped us fill the gaps in the coverage of the Swedish market with local aggregators. We are looking forward to more joint efforts where Flanks and Njorda compliment each other in terms of aggregation and financial analytics, to make both of our offers stronger.
Sergej Smirnov, COO and co-founder at Njorda
The benefits for users
The collaboration between Njorda and Flanks is a testament to the industry's commitment to providing the best possible experience for end-users, revolutionizing the way financial data is managed, presented and consumed by retail investors. This partnership marks a significant milestone in Njorda's quest for market expansion, strengthening connectivity coverage and unlocking access to untapped markets. Njorda's dedication to strategic partnerships and cutting-edge technology positions them to continue delivering innovative solutions to their clients. The growth and success of this collaboration with Flanks is an exciting prospect for the future of wealth management.