6 Fintechs Disrupting The Industry


Article by Jeff Pruitt

These six ventures are reshaping the infrastructure in the financial services sector. Find out how.

Financial technology is no longer a complicated, boring niche reserved to a small group of tech titans in Silicon Valley. It has become a rapid-growth sector in the tech industry - one that isn't losing steam.

Now popularly known as fintech, it generally refers to new ventures that are applying technology to solve a problem in the financial industry. The problems these innovators are solving have trended around creating a better customer experience whether in budgeting and banking, lending, purchasing, wealth management, or funds transfer.

While many companies in this sector flew under the radar for several years, they're now starting to gain mass appeal in the mainstream. The industry has leveled up in a sense with some savvy fintechs developing APIs (application programming interfaces) that are connecting the dots between various players in the financial services ecosystem, allowing them to collaborate in ways that previously didn't seem possible.

Here is a look at six making waves in the industry and reshaping the relationship and experience consumers and businesses have with the financial services sector.


Robo-advisor might sound like a villain out of Terminator, but it's actually an online wealth-management service that applies automation and algorithm-based technology to portfolio management advice. One fintech making a name for itself in robo-advisory is Apex Clearing, an online clearing firm. Other fintechs have glommed onto the company's suite of APIs to enable their users to enter, review, and settle account transfers between financial institutions.

Apex's API is now being used by other notable fintechs like Wealthfront, Betterment, Robinhood, Stash, and Personal Capital. And it has enabled them to give their users a complete online and paperless experience, standardize transfer procedures, reduce operating costs, and speed transaction settlements. This fintech made a name for itself early on by adapting quickly to the evolving needs in the digital advice space.

Fidor Bank

Fidor Bank is an all-digital bank based in Germany that launched in 2009 in an effort to re-establish the lost confidence consumers had in banking. The founders did so with customer-focused services and by empowering customers to have a voice in the bank's decision-making processes. As a result, it's since been labeled as one of the most innovative banks and has received numerous awards for its disruptive, transparent approach to banking and its fintech activity.

They further clinched their place in the industry with fidorOS, their suite of white-label, API-enabled application modules for digital banking. Through their database of more than 40 APIs, they're allowing banks and fintechs to build apps on top of their systems.

Developing this infrastructure has helped secure Fidor's longevity in the industry. Countless fintechs and banks are now relying on Fidor APIs for things like banking, payment processing, card and user management, sign-on and identification, loyalty and rewards management, money transfer, lending, and the list goes on.


Xignite was created for sourcing and integrating real-time market data into apps and devices geared towards wealth management. This Silicon Valley startup has helped ignite fintech innovation by enabling its more than 1,000 financial services clients to provide trade data - pricing and volume on stocks, bonds, options, or futures - and corporate earnings information to the end user.

Xignite currently has more than 43 APIs used by notable fintechs like Betterment, Wealthfront, Yodlee and Personal Capital. Major financial institutions and exchanges such as NASDAQ, NYSE Technologies, and Direct Edge are also using the company's private data distribution solution.


In a nutshell, Plaid enables applications to sync with their users' bank accounts to track and manage their budgets, and transfer funds. Plaid's API essentially serves as the connecter between banks and fintechs, and it's currently being used by several popular brands like Venmo, Gusto, TransferWise, Charity Water, Venmo, Gusto, TransferWise, Charity Water, Robinhood, and Level Money.

For example, Robinhood, a stock-trading app, uses Plaid's ACH (automated clearing house) authentication to verify a user's account ownership, check balances, and facilitate the funds transfer. Similarly, Gusto uses Plaid's ACH functionality to power its payroll direct deposit service. Beyond ACH, other fintechs like Level Money are using Plaid to aggregate and clean data from the user's various bank accounts and adding helpful context to help them budget and manage their money.


When Dwolla first came on the scene it was focused on getting customers to use its mobile app to pay businesses. They quickly realized it was their ACH API that was really making waves. Now fintechs are using Dwolla's API to enable peer-to-peer funds transfer between various banks. They took it a step further, white labeling their payment integration and now fintechs like Kill Bill deploying Dwolla into their native platforms to facilitate payments.


SPARROW started in the military space and has expanded into e-commerce, education, travel, medical, and other sectors with its payment technology. The company has since developed a series of open APIs for managing one-time and recurring ACH, automate tokenization, e-commerce, mobile payment processing, and secure redirect payments.

Of course, there are a handful of the long-time players like Square, PayPal, Google, and Apple that are continuing to revolutionize the financial services industry. Established banks like Deutsche Bank and Barclays have also embraced the API revolution, hosting hack-a-thons to encourage innovators to build new fintechs using their APIs.

The moral of the story? If you're looking to break into the fintech space, keep in mind there are two sides of the equation: those building the infrastructure and those leveraging it to reshape the user experience. And there's plenty of room for innovation in both.

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In the foreign metal market and the world of international rates, currencies play the crucial role of acting as the medium of exchange in the transactions that take place.

Currencies like the United States dollar, the Euro, or the British Pound are commonly used around the world in order to get a metal rate. Some companies that offer precious metal live and historical rates have exposed their APIs (Application Programming Interfaces) to allow developers to integrate current and historical metal rates, currency conversion, or other capabilities into their applications.

In order to know about precious metals live and historical rates, there’s a lot of APIs available online, and if you want to try one, Barchart is going to be one of your first options. But if you take a look at what else is in the market, you’ll find alternatives so many great alternatives:

Xignite Market Data Cloud Platform

Xignite Market Data as a Service was one of the first market data services built to run in AWS and they are one of the few vendors that is an AWS Advanced Technology Partner with a Financial Services Competency.

With more than a decade of cloud expertise in building, scaling and operating cloud-based market data technology, it is no surprise that leading financial services and capital markets firms rely on this company to empower their journey to the cloud. Their Metals API Service offers real-time prices and quotes for metals including Gold, Silver, Palladium, Platinum and other base metals. In addition to real-time precious metals prices, the service provides daily London Fixing prices as well as historical precious metal prices and metal news. 

Xignite Cloud APIs are sourced from leading providers such as FactSet and Morningstar as well as Xignite’s own curated, high-quality data.

Read the article Top 3 Alternatives for Barchart Precious Metals Rates


Each year, Bobsguide asks the market to vote for fintech companies they believe stand out from the competition – those who have gone the extra mile in terms of development and servicing their clients. Xignite is proud to be listed as the "Best API Management" vendor on the Bobsguide 2020 Rankings.

Read article on Bobsguide


Web services data provider Xignite captured the AFTAs judges’ attention on the infrastructure front with its release of Xignite Enterprise Microservices in July 2020, a suite of cloud-based microservices for data management, storage and distribution in the cloud, designed to help financial firms migrate from monolithic legacy data architectures to more agile and less expensive cloud services and data sources.

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Xignite, Inc., a provider of market data distribution and management solutions for financial services and technology companies, today revealed the results of its collaboration with StockCharts, a leading technical analysis and financial charting platform for online retail investors. The collaboration involved a move from an on-premise market data provider to Xignite’s cloud-native technology hosted in Amazon Web Services (AWS). Download the case study containing the full results.

StockCharts requires vast quantities of financial data to power its visualization, charting and tracking tools, which investors use to analyze the markets to help with investment decisions. The company was frustrated by the limits of its on-premise market data center, which was forcing the team to make architectural decisions based on what its data center could handle in terms of speed and storage, not on their technology. Its previous market data provider was just starting to build out some cloud offerings, but they were far away from what the business required. StockCharts decided to migrate its infrastructure to the AWS cloud and partner with Xignite to gain access to endlessly scalable market and financial data delivered through innovative cloud APIs.

The collaboration made an immediate impact as StockCharts was able to expand its offerings and customer base by pursuing growth strategies enabled by Xignite’s cloud-based approach, which provides easy access to data and eliminates architectural limits on storage and speed.

The pandemic provided further validation. Seattle-based StockCharts was in one of the first areas hit by COVID-19 and was forced to quickly shut down its office. Pandemic-driven market volatility followed and StockCharts customers wanted to visualize what was happening. The company’s ability to scale quickly and accommodate a high volume of new requests would not have been possible without Xignite.

“The move to the AWS cloud and Xignite has unlocked tremendous new potential for us in a lot of architectural ways, and has given us a lot of data options that we could not even consider before,” said Grayson Roze, Vice President of Operations at StockCharts. “It relieved us of the burden of figuring out how to source things. Instead, we know exactly where we need to go to get the data and can access it instantly. That is a huge, huge benefit for our business.”

“We are proud to have played a role in transforming how StockCharts approaches data,” said Stephane Dubois, CEO and Founder of Xignite. “The events of this year unleashed a massive spike in retail trading and a host of other unexpected forces that reinforced the need for financial services firms to leverage the cloud. Despite the disruption of this year, StockCharts was positioned for success, and we look forward to continuing to deliver our financial and market data solutions to the industry at large.”


Xignite has been disrupting the financial and market data industry from its Silicon Valley headquarters since 2006 when it introduced the first commercial REST API. Since then, Xignite has been continually refining its technology to help fintech and financial institutions get the most value from their data. Today, more than 700 clients access over 500 cloud-native APIs and leverage a suite of specialized microservices-delivered modules to build efficient and cost-effective enterprise data management solutions. Visit or follow on Twitter @xignite