WealthX, Padua deepen integration deal via open banking muscle

Australian fintech platform, WealthX, has leveraged its open banking capabilities to develop a new powered solution to deliver financial advisers “real-time visibility” and insights into clients’ financial data.

Building on its existing partnership with advicetech specialist, Padua Solutions, which implemented a financial adviser-mortgage broker integration that enables streamlined and simplified two-way exchange of verified client data, the new platform will provide a complete financial overview of clients’ income, expenses, borrowing capacity and property equity instead of relying on assumptions.

The platform is designed to unlock “higher-impact, longer-term” tailored financial advice across all possible areas of assets, including cash flow, property, superannuation and retirement planning, and assist advisers in delivering clients elevated monthly surplus, concessional contributions, investment contributions and debt reduction. 

WealthX Founder and Director, Clint Howen, said the capability first developed with Padua allows advisers to take advantage of data-driven opportunities uncovered by brokers that they typically may not have access to until later along the wealth journey.

“Mortgage brokers can now provide verified client data to financial advisers, and advisers receive a richer starting point for ongoing financial planning, reducing the time it takes to provide advice and improving the client experience,” he said.

“WealthX gives advisers the verified financial truth they need to coach clients confidently across cash flow, property and retirement planning.”

Padua Solutions’ co-founder and co-CEO, Matthew Esler, said the partnership has paved the way for advisers to better meet clients’ needs.

“This integration reduces the time taken to capture the client’s complete cashflow position as well as property and mortgage data in a fraction of the time it currently takes, using trusted Consumer Data Right (CDR) open banking capability,” he said.

A statement from WealthX confirmed how the platform will perform in practice for advisers:

• Initial fact‑find and review: Capture verified cashflow data, including income and expenses, to replace self‑reported estimates and reduce cost, compliance and capacity hurdles during onboarding.
• Cashflow optimisation sessions: Use the spending review and collaborative habit tools to set immediate actions, enabling excess cashflow to be put against strategy recommendations, all while tracking progress in the adviser dashboard.
• Proactive client management: Monitor client data to identify when clients reach borrowing thresholds, equity milestones, or savings plateaus and trigger timely advice conversations and value‑add services.