Flanks Partners with Perplexity to Launch AI-Driven Wealth Management Data Connector

WealthTech leader Flanks has integrated its regulated wealth data layer into Perplexity’s AI ecosystem, enabling financial advisors to automate complex advisory tasks using real-time portfolio data. This partnership addresses the critical hurdle of data fragmentation in European wealth management, allowing professionals to deploy AI agents for reporting and meeting preparation with institution-grade accuracy.

What was announced

Flanks has launched a dedicated connector within Perplexity’s answer engine and its agent platform, Computer. This integration provides Perplexity users with direct access to regulated multi-bank aggregation across more than 700 institutions. Unlike existing retail-focused connectors, this solution is designed specifically for the institutional wealth management sector, covering complex portfolios across all asset classes, including alternatives.

The functionality allows private banks and financial advisors to query portfolio holdings, investment positions, and transaction histories using natural language. These insights can be applied directly to specific workflows such as Client Reporting, Client Portfolio Monitoring, Client Meeting Prep, and ETF Overlap analysis. By automating the ingestion of data from hundreds of fragmented sources, the partnership aims to eliminate the manual reliance on spreadsheets and legacy custodian feeds.

Operating across 33 countries, Flanks currently processes over 8.2 million portfolios monthly, representing more than €43 billion in assets under management. The service is provided under a secure, compliant framework; Flanks is an Account Information Service Provider (AISP) regulated by the Bank of Spain under European Central Bank supervision, and maintains SOC 2 Type II and SOC 3 certifications.

"Financial advisors are drowning in fragmented data - stitched together across custodians, spreadsheets and legacy providers, with no single source of truth. That's the barrier stopping most institutions from actually harnessing AI, no matter how good the model is. The real opportunity isn't another standalone tool solving one task in isolation, but connecting AI into a system that works across the full advisory process. Perplexity's ecosystem is selective, and being included early reflects how well our data fits its enterprise banking workflows - reporting, meeting preparation, portfolio monitoring. Wealth professionals are going to work through AI agents, and we're making sure the data underneath is reliable and AI-ready."

Joaquim de la Cruz, CEO and co-founder at Flanks.

The companies involved

Flanks is a Barcelona-based WealthTech firm founded by Joaquim De la Cruz, Sergi Lao, and Álvaro Morales. The company has positioned itself as a critical infrastructure provider for the wealth management industry, offering a unified data layer that aggregates information from a vast network of financial institutions. Its regulatory status under the Bank of Spain and oversight by the European Central Bank (ECB) allows it to serve high-stakes institutional clients like Santander Private Banking, providing the compliance rigor necessary for large-scale financial operations.

Perplexity is an AI platform focused on providing accurate, source-backed information through its advanced answer engine. By building a curated connector ecosystem, Perplexity is moving beyond general search into specialized enterprise workflows. The platform’s "Perplexity Finance" segment allows users to interact with licensed financial data, and the addition of Flanks represents a significant expansion into the European institutional market. The collaboration highlights Perplexity's strategy of integrating deep, regulated data sets to power the next generation of financial AI agents.

What FF News has reported before

FF News has closely followed the intersection of AI and financial research, recently reporting on how Canary Data and Perplexity Partner to Deliver AI-Driven Investment Research Workflows. Our coverage also extends to the broader European regulatory and digital infrastructure landscape, including the Digital Euro Privacy: How the ECB Plans to Deliver Cash-Like Anonymity for Electronic Payments and initiatives like Axiology Joins ECB Pontes Launch and Appia Contact Group to Advance Tokenized Capital Markets. Additionally, we have covered regional security developments such as when DESILO Launches European Entity in Luxembourg to Tackle Cross-Institutional Fraud via FHE.

What this means

This partnership signals a shift in the AI arms race from model capability to data provenance. For the wealth management sector, the bottleneck has never been the lack of AI models, but the "garbage in, garbage out" problem caused by fragmented European banking APIs. By embedding regulated, multi-custodian data directly into a leading AI interface, Flanks is putting significant pressure on traditional legacy reporting tools that lack native AI integration. The industry now faces a clear divide: firms that rely on manual data consolidation will struggle to compete with the speed of AI-augmented advisors. The central question for the sector is no longer whether AI can prepare a client report, but whether the underlying data layer is robust enough to satisfy regulators like the ECB.