Flanks and RegData Partner to Strengthen Wealth Data Security

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Global wealth management is undergoing a transformative process of change and digitalization. As a result, wealth data security is more critical than ever. With the increasing adoption of cloud-based solutions, protecting sensitive financial data is of utmost importance. At Flanks, we understand the significance of safeguarding client information and ensuring confidentiality throughout every stage of the wealth management process.

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As a regulated Account Information Service Provider (AISP), Flanks adheres to PSD2, GDPR, and LGPD regulations. Our unwavering commitment to data protection in wealth management drives us to apply robust security measures to protect our clients' wealth data consistently.

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Strengthening data protection with RegData

To align with specific client requirements, we have partnered with RegData, a leader in multi-cloud data security for wealth management. This collaboration significantly bolsters our data security efforts by integrating advanced tokenization and encryption solutions, ensuring data is encrypted before it even enters Flanks' infrastructure.

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RegData offers cutting-edge data security solutions through its proprietary REGDATA Protection Suite (RPS), specifically designed to empower financial institutions in managing sensitive data seamlessly across multi-cloud environments. By effectively mitigating data risks in wealth management, RPS ensures robust protection. With flexible deployment options, clients can maintain control over their encryption keys, whether their data is hosted in the cloud or on private servers.

Why RegData?

We believe this partnership will bring significant benefits to clients with particular security requirements, and we’re excited to share how RegData enhances our capabilities:

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• Pre-encryption and tokenization: sensitive data is tokenized before it enters cloud or Flanks infrastructure, ensuring it remains unreadable to unauthorized parties throughout its lifecycle.
• Multi-cloud data security: RegData secures data across various cloud environments, allowing complete control over data security configurations.
• Flexible deployment options: RegData can be deployed either as a SaaS solution or on-premise (on the client's servers), giving clients full control over their data protection policies.
• Compliance and reporting: RegData’s built-in security reporting tools provide real-time compliance reports, ensuring adherence to stringent data protection in wealth management regulations.

Conclusion: advancing wealth data security together

The partnership between Flanks and RegData represents a significant leap forward in delivering enhanced tailored data security in wealth management. By leveraging RegData’s tokenization, encryption, and compliance reporting capabilities, we continue to protect our clients' sensitive financial information and adhere to strict regulatory frameworks. Together, we are setting a new standard for data security in wealth management.

Want to learn more? Visit www.flanks.io/ecosystem

Want to contact the Team? Get in touch with us here.

About Flanks

Based in Barcelona, Spain, Flanks is revolutionising the wealth management industry by providing a simple and seamless approach to holistic wealth management. Our team comprises experts from both wealth management and technology backgrounds, enabling us to assist global financial players—including banks, family offices, and portfolio trackers—in streamlining their management processes.

About RegData

Based in Geneva, Switzerland, RegData is a leader in data protection and compliance in wealth management. Their RegData Protection Suite (RPS) offers innovative solutions for cloud-based data protection for wealth managers, ensuring sensitive data is secure across multi-cloud infrastructures. With a strong emphasis on compliance and data governance, RegData empowers financial institutions to enforce stringent data security measures.