According to WealthAi, family offices, external asset managers and private banks rely on legacy data service providers to connect custodians, investment managers and other third-party providers.
WealthAi said the result was fragmented information and labour-intensive manual processes for uploading, reconciling and validating data across multiple formats and sources.
WealthAi said the partnership, combining WealthAi’s AI operating system with Flanks’ wealth data infrastructure, would enable firms to replace multiple legacy providers with a single AI-enabled platform.
“Having a single source of truth that’s continuously updated and connected to AI agents driving processes across the business should be the new standard for wealth management. By partnering with Flanks we’re giving our clients immediate access to more than 650 custodian connections through a single AI platform. Instead of stitching together expensive legacy providers, firms can access the data, workflows and AI capabilities they need in one place.”
- Jason Nabi, founder and chief executive of WealthAi
WealthAi said the partnership reflected growing demand from wealth managers for integrated technology platforms that combine AI, data and workflows as firms look to simplify fragmented technology stacks and accelerate AI adoption.
Joaquim de la Cruz, chief executive and co-founder of Flanks, added that fragmented, low-quality data was “still one of the biggest barriers to harnessing AI at scale”. He said:
“What WealthAi is building is powerful because it puts that data straight to work for family offices, asset managers and private banks, turning it into action instead of more dashboards to dig through.”
Learn more how Flanks delivers institution-grade quality, comprehensive 360° visibility across all asset classes, and the scalability wealth institutions need to harness AI.
Contact us: www.flanks.io/contact
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About Flanks
Flanks is a wealth management technology company (wealthtech) that is redefining the industry through automation and data-driven insights. Its modular and all-in-one solution empowers global financial institutions, including banks, family offices, asset managers, pension plan providers, and technology companies, to offer faster, higher-quality, and personalised advice by transforming complex and fragmented wealth data into valuable insights.
Flanks was founded in 2019 in Barcelona by Joaquim de la Cruz, Sergi Lao, and Álvaro Morales, former Global Head of Santander Private Banking. Currently, the company aggregates data from 600+ connections with global financial institutions and processes more than 500,000 portfolios per month in over 33 countries, managing assets worth more than €39 billion. For more information, visit flanks.io.
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