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Flanks API Technology And Big Data For WealthTech

by Javier Nieto León
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Flanks API Technology And Big Data For WealthTech
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This is part of our High-Tech Online Magazine and our High-Tech Company Directory.

I interviewed to Joaquim de la Cruz (CEO) and Ruben Lozano (CMO) at Flanks. Flanks is a Spanish Fintech End-to-end Solution to empower your business over banking enriched data

Brief introduction about Flanks

Flanks is a startup located in Barcelona that provides solutions to the fintech industry, specifically, to the Wealthtech industry, with a holistic platform that integrates financial data from any financial entity (EAFIs, AFIs, Family Offices, Private Banks or Wealth Managers).

With this platform, users will be able to see the information aggregated of their clients and will be able to give their clients better advice. They can also create customized reports and export them in PDF for their clients. Flanks provides a whole suite to make the task of advising private banks, family offices and financial advisors easier.

Flanks was founded by Joaquín De La Cruz, Sergi Lao, and Álvaro Morales in December 2018 and the startup received initial financing of € 200,000 directed by SeedRocket 4Founders Capital, Lanai Partner and several business angels in May 2019.

Today, Flanks has 5 employees and is expected to reach 12 by the end of 2020.

What are the main problems solved by Flanks?

The big problem that private banks, family offices and financial advisors found was that the information was not standardized, fragmented and disaggregated on different platforms, in addition to not having a holistic view of the client’s entire assets.

With the experience of the founders, the need was seen in the market and it was decided to create a solution that aggregates all the financial information in the same and single platform. In this way, we created an extraction technology so that anyone could add financial data and recover it from the data layer or through our platform to see all that information aggregated and be able to make decisions about the portfolio.

In addition to being able to analyze historical information, see the details of each of the portfolio assets and export them to its customers. These are the main features right now, we are adding new features every month.

How do you solve these problems?

To solve these problems, two possible solutions are presented. On the one hand, a tool with which any company can use our solution as a source of information to add its value on these financial data. Or, another hand, use of our platform with which you can consult the aggregated data, of the portfolios of the different customers, view and generate reports. In this way, solutions are provided for both types of users, those who seek the technological solution and those who directly seek the final value solution ready to use.

Who is your target customer?

Our target customer is B2B. Companies and advisors that work within the financial management industry and that need technological solutions to be able to do their financial advisory work better. These target customers are all those private banking entities, family offices, and financial advisors.

What is the main technology innovation offered by Flanks?

The double revolution of technology and big data is reaching all industries, and the latter is being that of finance. In our case, in particular, private banking and investment finance. Thanks to this double revolution, Flanks has seen the opportunity and we have internally created a technology that is capable of extracting and pull financial data. We can summarize technological innovation in 3 key concepts:

  1. The technology of the standardized extraction of financial products.
  2. Integration with other software used in the day-to-day business.
  3. A holistic platform to visualize the distribution, evolution, and detail of the portfolio and to be able to print reports.

How to get in contact with Flanks?

If you want to contact us, you can check our website www.flanks.io and fill out the contact form or speak through the online chat we have. You can also write an email to hello@flanks.io. We would love to hear from you.

If you want to keep up to date with news from the Wealthtech and Flanks, you can follow us at:

Or by its Social Networks:

If you are interested in more Tech Startups, you can find in our High-Tech Online Magazine or in our High-Tech Company Directory.

Would you like also to include an article about you on our Tech Startup Directory? You can contact us by leaving a comment or write to info@startupstips.com

Javier Nieto León

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1 comment

Ruben Lozano March 4, 2020 - 12:48 pm

Thanks a lot for the interview. It was great! 🙂

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