With the launch of EDX (European Data Exchange), Flanks is taking a new strategic step forward in its mission: to build the data infrastructure that is still lacking in the European wealth management sector. In partnership with finReg360, a leading regulatory consulting firm, the European WealthTech company is transforming proven operational expertise into a true industry standard.
From Connectivity to Market Infrastructure
For several years, Flanks has established itself as a key player in wealth consolidation across Europe, with a unique ability to connect to over 600 financial institutions in 33 countries, covering both major international banks and more specialized private institutions. This expertise, historically leveraged to serve wealth management players, is now becoming the foundation of a broader ambition: to create a common protocol for exchanging financial position data on a European scale.
EDX is not just another tool in an already crowded ecosystem. It is a market infrastructure designed to enable existing systems to communicate with one another without requiring major overhauls or creating technological dependencies. This represents a paradigm shift for a sector still marked by fragmented exchanges and time-consuming manual processes.
A standard designed for the real world, not just for theory
Where many open finance initiatives remain theoretical, Flanks starts with reality. EDX was designed to work within the operational constraints of custodians: APIs where they exist, secure access where they don’t, and reading structured reports for alternative assets. The protocol acts as a common language, capable of adapting to the diversity of European infrastructures.
This pragmatic approach allows financial institutions to immediately improve the quality and reliability of data, while retaining control over their architecture and client relationships.
Anticipating FIDA: A Decisive Competitive Advantage
With the imminent arrival of MiFID regulations, standardized access to a consolidated view of assets will become a regulatory imperative. Unlike PSD2, which focuses on payments, MiFID will cover all financial assets, from investment accounts to insurance products and alternative investments.
By launching EDX today, Flanks offers the market a proactive alternative: an infrastructure driven by the industry players themselves, aligned with future regulatory requirements, and designed to avoid the rushed and costly implementations the sector has experienced in the past.
Restoring time and value to wealth management
Beyond compliance, the stakes are strategic. By streamlining access to comprehensive, real-time data, EDX enables private banks, family offices, and advisors to refocus their value proposition on advisory services, financial planning, and long-term relationships.
For end clients, this translates to consolidated wealth visibility across multiple custodians and asset classes. For institutions, it means an enhanced ability to offer more personalized, comparable, and scalable services.
A European vision of open wealth management
With EDX, Flanks does more than just solve a technical problem: the company helps structure European open wealth management around clear principles—security, traceability, data sovereignty, and client consent.
Initially launched in Southern Europe and designed for a phased rollout across the continent, EDX embodies Flanks’ vision: to make wealth data a strategic lever, driving wealth management that is more transparent, efficient, and sustainably client-focused.
