Flagstar Bank Selects Xignite Web Services to Improve Access to Financial Information while Lowering Total Cost of Ownership
SAN MATEO, CA May 18, 2009 -
Xignite, Inc., the leading cloud services
provider of on-demand, financial market data
and application components announced today that Xignite Web services are used to power internal financial dashboards as an affordable alternative to proprietary financial data terminals and portal applications. Flagstar Bank
is one of many companies that have switched to Xignite financial Web services to create tailored dashboards that meet the specific needs of their business, while lowering total cost of ownership by eliminating unused data feeds and unnecessary software and hardware infrastructure.
Publicly traded companies, asset management firms and banks are using Xignite Web services to power internal dashboards to conduct research, monitor company performance, improve investor relations, create models and price products, loans, and assets. Xignite offers more than 50 financial Web services covering equities, commodities, currencies, interest rates and corporate information that can be integrated into any Web or software application in minutes, accelerating application delivery and eliminating development, deployment, and maintenance costs.
Flagstar Bank utilizes Xignite Web services to drive an internal financial dashboard that retrieves stock prices, futures, bonds, financial rates and mortgages at a timed refresh to deliver the data to more than 3,500 employees. Flagstar selected Xignite for their ability to provide more data, faster and at a lower cost than their competition. Flagstar has deployed XigniteBATSLastSale
"Xignite enabled us to create a powerful dashboard that provides up-to-the-minute data at a fraction of the cost and development time required by other market data providers," said Jason Dufner, senior vice president of IT Content and Banking Systems for Flagstar. "With Xignite, we are able to stay abreast of the industry's constantly fluctuating stock prices and mortgage rates, which is critical in today's turbulent economy. Furthermore, Xignite has addressed our requirements so well and the dashboard has been such a success with our users, we revised the initial project to include additional features."
"Financial institutions are between a rock and a hard place with traditional market data providers. In order to access vital financial information, they are forced over invest in expensive terminals and services that go way beyond their needs," said Stephane Dubois, CEO, Xignite. "On-demand financial Web services free these organizations from this untenable situation, providing them with only the data they need and eliminating all investments in additional hardware or software. Now, companies like Flagstar can quickly build powerful internal dashboards powered by up-to-the-minute financial information that provide a solid ROI in weeks, not years."
Flagstar Bancorp, with $16.8 billion in total assets, is the largest publicly held savings bank headquartered in the Midwest. At March 31, 2009, Flagstar operated 177 banking centers in Michigan, Indiana and Georgia and 61 home loan centers in 18 states. Flagstar Bank originates loans nationwide and is one of the leading originators of residential mortgage loans. For more information, please visit flagstar.com
Xignite is the leading cloud services provider of on-demand, global financial market data and application components. The Xignite financial Web Services and mash-up platform helps companies build smarter websites and software applications in minutes with zero investment and cost-effective, subscription pricing. Xignite offers over 50 solutions covering domestic and global equities, commodities, currencies, fixed income and interest rates, company fundamentals, corporate information and more. Xignite solutions power mission-critical applications and financial Web sites for more than 400 global clients, including Forbes.com, kaChing.com, NetSuite, Citi, GE Commercial Finance, ING, Starbucks, Wells Fargo and Wendy's. For more information, visit www.xignite.com
or call 1-866-XML-SOAP.
For further press information regarding Xignite please contact:
Clinton Karr or Annie Klein
Telp: (415) 512-0770