Connect with us

Business & Technology

WealthAi & Flanks join forces on wealth data platform

Published

on



KAREN JOY BACUDO

Finance Editor

WealthAi and Flanks have formed a partnership to combine their wealth management technology platforms, giving WealthAi users access to data from more than 650 financial institutions.

The agreement links WealthAi’s AI operating system with Flanks’ wealth data infrastructure as both companies target family offices, external asset managers and private banks. The combined service is intended to replace several legacy providers with a single platform that brings together data, workflows and AI tools.

Wealth management firms often rely on a patchwork of external systems to gather portfolio information from custodians, investment managers and other third parties. As client assets and custody arrangements have spread across more jurisdictions and providers, many firms have been left with fragmented records and manual work to reconcile information across bank statements, spreadsheets and PDF documents.

Those operational issues have also become a hurdle for firms trying to use AI in regulated parts of their business. Without consistent, connected data, firms can struggle to automate work across front-, middle- and back-office functions or build a complete picture of a client’s holdings across asset classes, including alternative investments.

Data access

Under the partnership, WealthAi clients will be able to access Flanks’ automated wealth data infrastructure directly through the WealthAi platform, providing portfolio data across all asset classes and institutions in a single system.

Flanks’ infrastructure already connects with more than 650 institutions worldwide. It processes more than 8.2 million portfolios each month across more than 33 countries and manages more than €43 billion in assets.

WealthAi, founded in London, develops software for wealth managers that combines AI assistants, AI agents, workflow tools and integrated third-party services. Flanks, founded in Barcelona, provides data aggregation and enrichment services for wealth institutions. It is regulated by the Bank of Spain as an account information service provider, with passporting across Europe.

The partnership comes as wealth managers face pressure to cut technology spending while modernising core systems. Many firms still rely on older providers that charge based on assets or data access, while internal teams spend significant time checking and reformatting information before it can be used for reporting, client service or compliance.

“Wealth managers are overpaying for legacy vendor technology that is no longer fit for purpose. Many firms are still paying basis-point fees for data infrastructure that requires manual reconciliation and doesn’t deliver the clean, connected data modern wealth management demands. At WealthAi, we’re bringing together the very best AI capabilities and partner services in a platform that’s simple to adopt and delivers immediate value. 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,” said Jason Nabi, Chief Executive Officer and Founder of WealthAi.

“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,” he added.

Industry pressure

The broader backdrop is a push across asset and wealth management to simplify technology stacks and make data more usable for automation. Firms want fewer point solutions and cleaner underlying information, particularly as they test AI for tasks such as administration, portfolio reporting, client communications and internal controls.

For providers such as WealthAi and Flanks, this creates an opportunity to bring data infrastructure and workflow software closer together. Instead of keeping aggregation, reconciliation and task execution in separate systems, the combined model aims to place data directly into the business processes used by advisers and operations staff.

Joaquim de la Cruz, Chief Executive Officer and Co-founder of Flanks, said poor data quality remains a central barrier to wider adoption of AI in the sector.

“We’ve spent the last seven years solving the data problem in wealth management, because sophisticated wealth management shouldn’t be reserved for the few – it should be within reach for many more people. The current AI moment makes that even more exciting: it’s a real chance to accelerate adoption and access across the industry. Fragmented, low-quality data is still one of the biggest barriers to harnessing AI at scale, and Flanks is ready to change that.”

He described the link with WealthAi as a practical test of that approach: “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. This partnership is a great example of what that looks like in practice, and a blueprint for how AI will scale across the industry.”



Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business & Technology

Oxfordshire business mentor releases brutally honest book

Published

on



Mike Foster, who was born and raised in Kidlington, has written The Financial Times Guide to Starting a Business, which combines practical business guidance with insights into the entrepreneurial mindset.

Now based in Didcot, Mr Foster coaches business owners by reviewing critical aspects of their operations, identifying areas of focus, and developing tailored strategies.

Mr Foster said: “Many start-up guides focus solely on the mechanics of launching a business.

“But I wanted to be brutally honest about the realities and challenges entrepreneurs will face, sharing from my own journey which has included both big successes and a six-figure setback.”

The book is his second publication, following 2023’s 105 Ways to Accelerate Your Business Success.

He also contributes to the community through his work in schools, having served as an enterprise advisor for Enterprise Oxfordshire (formerly OxLEP).

In that role, he supported Didcot Girls School and helped the organisation recruit 40 equivalents in secondary schools across the county.

The new book covers everything from idea development and marketing to finance, legal structures, and operations.

It aims to help readers assess whether they are mentally prepared for entrepreneurship.

Written as a step-by-step guide, the book offers practical, actionable advice and encourages readers to consider the mindset needed to build confidence and avoid common start-up pitfalls.

The Financial Times Guide to Starting a Business is available now in paperback and e-book formats from Amazon, Waterstones, and other major retailers.





Source link

Continue Reading

Business & Technology

SSEN to offer free, personalised energy advice to customers

Published

on



The service is available across central southern England and the north of Scotland through a partnership with energy efficiency charities Changeworks and the Centre for Sustainable Energy (CSE).

It offers support with fuel poverty, energy bills, and low-carbon technologies.

Eliane Algaard, director of customer operations at SSEN, said: “We know that many of our customers are looking for trusted, practical advice to help them manage energy costs, improve the comfort of their homes, and make informed choices about low-carbon technologies.

“By working with Changeworks, we can offer our customers access to specialist support that reflects the different needs of the communities we serve, from rural and island locations in the north of Scotland to towns and cities across central southern England.

“This partnership builds on the support we already provide for customers who may need extra assistance and enables us to help even more households to access the right advice at the right time.”

Customers can access the free advice via phone, online, or in person.

The programme will also proactively identify individuals in need through outreach activities, including promotion of the Priority Services Register, distribution of energy-saving kits, and advice on making homes more sustainable.

Changeworks brings nearly 40 years of experience delivering energy efficiency support in Scotland, while CSE has worked with SSEN since 2021 through the Cosier Homes Advice project in central southern England.

Morven Masterton, head of community engagement and energy advice services at Changeworks, said: “Changeworks is delighted to be partnering with CSE to deliver this important SSEN initiative, supporting customers across the two regions.

“Together, our organisations bring extensive local knowledge, strong partnerships, and well-established networks.

“By integrating this programme into the existing support available in each area, we will be able to maximise its reach and deliver an even greater impact for the customers and communities we serve.”

CSE has over 45 years’ experience helping people reduce energy costs and improve home comfort.

Karn Shah, head of advice at CSE, said: “Energy bills remain high, and more people are struggling to keep up.

“This new partnership with Changeworks and SSEN means we can reach even more households who need practical, impartial advice to help them cut their bills, ensure their homes are a safe temperature and more energy efficient, and understand their route to a low-carbon future.”

SSEN said the scheme would support warmer homes, lower bills, and a fair transition to a low-carbon future.





Source link

Continue Reading

Business & Technology

Schneider backs AI-era condition-based maintenance

Published

on


Schneider Electric has published an IDC white paper on maintenance in AI-era data centres, arguing that calendar-based maintenance is no longer fit for purpose in many facilities.

The report says rising rack densities, multivendor estates and shortages of skilled technicians are forcing operators to rethink how they maintain critical equipment. It makes the case for condition-based maintenance, which uses monitoring and analysis of asset behaviour to identify faults earlier and reduce unnecessary service interventions.

Schneider Electric linked the findings to its EcoCare service model, which combines remote monitoring, expert oversight and predictive fault analysis. It said the approach shifts maintenance away from fixed schedules towards interventions based on equipment condition and operating limits.

IDC said the operational backdrop for data centre operators has changed sharply as AI workloads grow. The paper notes that rack power densities have increased from about 15kW per rack in standard data centres to 300kW to 600kW in AI-heavy compute zones, adding pressure on uptime and infrastructure resilience.

That shift is being compounded by the way operators are expanding capacity. According to the research, many are relying on existing installed bases, distributed campuses, on-site generation and brownfield strategies through mergers and acquisitions of local service providers, rather than building entirely new facilities.

Operational strain

The white paper also highlights the complexity of fragmented multivendor environments. Operators that acquire existing facilities can inherit equipment from multiple suppliers without a full operating history, creating challenges when integrating it into asset performance management systems.

“When operators acquire existing facilities rather than build from scratch,” said Luis Fernandes, Senior Research Manager, IDC, “they introduce unknown equipment configurations from multiple vendors, with no operational history, requiring immediate integration with asset performance management systems.”

Labour shortages add to those pressures. The research said the supply gap for skilled technicians has reached unsustainable levels, citing a US example where there is only one qualified person taking up a position for every seven open roles. Operators are struggling to recruit across electrical, mechanical cooling and commissioning roles, including positions that require specialist certification for high-voltage systems.

Against that backdrop, the study argues that fixed maintenance intervals are becoming less suited to the realities of AI-led data centre operations. Rather than carrying out work simply because of a date on a calendar, condition-based maintenance uses equipment data to determine when intervention is actually needed.

Schneider Electric said early adopters of AI-supported condition-based maintenance have reported fewer manual interventions, lower operating expenditure, less unplanned downtime, longer asset lifetimes and better efficiency. It added that its EcoCare offering can deliver up to a 75% reduction in unplanned downtime and a 20% reduction in operating expenditure, while also reducing risk.

Predictive model

Jerome Soltani, Global Head of Services at Schneider Electric, described the model as one focused on identifying abnormal behaviour in equipment and systems earlier. He said combining remote monitoring with AI-assisted orchestration can improve visibility into asset health and reduce disruption from unnecessary maintenance activity.

“By combining remote monitoring capabilities with AI-assisted orchestration, you can gain insights regarding the health of your assets and systems, and get an early identification of abnormal behaviour that might precipitate a failure,” Soltani said.

“This ensures that downtime is minimised, but also that equipment working within specification is not disturbed or needlessly addressed.”

IDC frames the issue as part of a broader shift in how operators manage infrastructure in more complex environments. Instead of treating maintenance as a routine schedule, the paper describes a model in which software-led analysis and human oversight combine to create a more continuous picture of system health.

Fernandes put that argument directly: “Your maintenance schedule doesn’t know when something is failing – your equipment does.”

He added: “Condition-based maintenance is an optimised operating model for AI-era infrastructure that reduces manual interventions, lowers OpEx, and extends asset lifecycle. By scaling predictive analytics to correlate behaviour across every vendor, asset, and failure trajectory, condition-based maintenance enables operators to build machine-driven, human-validated system intelligence.”



Source link

Continue Reading

Trending