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Xignite & 21 Innovators Join Forces to Launch the #FintechRevolution API Ecosystem

Xignite

Initiative Fuels Fintech Innovation by Allowing Easy Access to Massive Set of APIs

Finovate Fall 2015 – Xignite, the leading provider of market data cloud APIs (application programing interface), announced today the launch of the#FintechRevolution API Ecosystem, an industry-wide initiative that connects fintech developers with best-of-breed financial APIs. The goal of the initiative is to inspire a new generation of financial applications by assembling the best APIs in each market category.

The #FintechRevolution API Ecosystem is being spearheaded by Xignite and membership is open to financial technology vendors, data providers, service providers and accelerators. Founding members are 21 leading vendors that provide workflow, analytics and data APIs, including YodleeStocktwitsTradier and Nasdaq and fintech accelerators including Level39 andValueStream. Member companies are working together to promote the development of fintech APIs through sharing research and data, marketing best practices, and joint events.

APIs from #FintechRevolution API Ecosystem members are listed in an integrated API Catalog, powered by Xignite, which provides developers easy access to a variety of APIs. All listed APIs are vetted for usability and simplicity and all support and sales staff from all member firms are trained on their functionality.

Fintech is currently experiencing significant growth. Investment globally has tripled, growing to over $12 billion in 2014, according to a study by Accenture. A new de-facto ecosystem, made of interlocking APIs and services that are used to power a new generation of financial applications, is developing. The common benefits of APIs are simplification, automation, creation of a rich user experience, and a dramatically lower cost structure for the industry. The #FintechRevolution Ecosystem is a formalization of that ecosystem that allows users to take advantage of the best fintech APIs available while helping member firms collaborate and grow.

“The fintech industry has experienced phenomenal growth in the last couple of years,” said Stephane Dubois, CEO and Founder of Xignite. “This initiative consolidates the best of the best in the fintech API ecosystem. It will now be easier for firms, large and small, to start and grow financial services and fintech companies just by leveraging the APIs in the ecosystem.”

fintechrevolution api ecosystem xignite fintechThe founding members of the #FintechRevolution API Ecosystem include the following firms:

Workflow APIs

Analytics APIs

  • AutoChartist – Technical Analysis APIs
  • TipRanks – Analyst Performance Rankings APIs
  • Insight 360 - Environmental, Social and Governance APIs
  • PsychSignal – Trader Mood Data APIs
  • Vetr – Crowdsourced Equity Ratings APIs

Data APIs

  • Estimize – Crowdsourced Earnings Estimates APIs
  • Nasdaq – Real–time and Historical U.S. Equities Trade and Quote APIs
  • Streamdata.io – Real-Time Web Streaming APIs
  • StockTwits – Investor Social Data APIs
  • SR Labs – Ultra Low Latency APIs
  • Yodlee – Account Aggregation APIs
  • Xignite – Market Data APIs

Incubators

#FintechRevolution API Member Quotes

Howard Lindzon, Co-founder and Chairman, Stocktwits
“I love markets. I love investing. I love stocks and I love startups. The revolution taking place around the financial web is so exciting. It is great to be part of the #FintechRevolution API Ecosystem with Xignite, whose product helps Stocktwits thrive.”

Leigh Drogen, Founder and CEO, Estimize
"The future of capital markets fintech lies in niche platforms creating incredible data sets to be leveraged by everyone. In order for these platforms to scale, APIs are going to play a huge role in distributing this data throughout the web and into the hands of end users."

Greg Neufeld, Founding Partner, ValueStream
"The financial services industry is being reinvented from the ground up. We wouldn't be investing our time, relationships and capital if we didn't believe that the transformational changes happening today are merely the tip of the iceberg. Startups and enterprises alike must plug into one another to build a better and stronger moat for the future. The #FintechRevolution API Ecosystem initiative better enables data and content integration across the financial services ecosystem, and we're excited to be a part of this movement."

About Xignite

Named one of the ten coolest brands in banking, Xignite, Inc. provides cloud-based financial market data APIs to help emerging companies and established enterprises deliver real-time and reference market data to their digital assets, such as websites and apps. Xignite’s clients include more than 1,000 financial services, media and software companies from disruptive fintech firms, such as BettermentFutureAdvisorMotif InvestingPersonal CapitalRobinhoodStockTwitsWealthfront and Yodlee, to leading financial institutions, exchanges and market data vendors including, NASDAQ OMXSIX Financial Information andBMO. For more information, visit http://www.xignite.com or follow on Twitter @xignite.

RECENT NEWS

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

01/26/2021

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.

Requires subscription to read the article on WatersTechnology

01/25/2021

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

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 http://www.xignite.com or follow on Twitter @xignite

01/12/2021

Xignite, Inc., a provider of cloud-based market data distribution and management solutions for financial services and technology companies, today announced that its Market Data Management-as-a-Service solution has been named “Best New Technology Introduced over the last 12 months – Infrastructure” at the 2020 WatersTechnology American Financial Technology Awards (AFTAs). Selected by the editors of WatersTechnology, the AFTAs recognize excellence in the deployment and management of financial technology within the asset management and investment banking communities.

Xignite’s Market Data Management-as-a-Service (MDMaaS) solution enables buy- and sell-side firms to centralize the management of vendor data feeds into their own cloud environment. The solution is built around the cloud microservice-based architecture and technology stack Xignite has been refining and scaling for more than 10 years. Xignite’s technology platform has been the backbone of the company’s Data-as-a-Service business, daily supporting 12 billion API requests of financial data for their 700 fintech and financial services clients. Now Xignite is leveraging this battle-tested cloud-native data management architecture to offer buy- and sell-side firms a market data vendor agnostic offering, with connectors available for firms to load data they license from Bloomberg, Refinitiv, ICE and numerous other providers.

The MDMaaS solution includes a suite of loosely-coupled modules that enable market data user firms to control their data usage, automate entitlements, optimize their data spend and minimize liabilities by simplifying data governance and ensuring regulatory compliance.

The functionality is delivered via microservices, an architectural approach in which core functionality is handled by loosely coupled, independently deployable modules that can work together or separately. Microservices architecture stands in stark contrast with monolithic platforms that require expensive on-premise technology – that is especially hard to maintain in the context of a pandemic.

The MDMaaS microservice-delivered modules introduced in 2020 include:

Xignite Entitlements and Usage - Manage the entitlement of vendor data to users and applications to ensure compliance and eliminate excess spend.

Xignite Optimization - Streamline data consumption to avoid duplicated vendor requests, leverage cached bulk data and get recommendations to reduce data costs.

Xignite Data Lake - Centralize, catalog and connect data shapes to enable frictionless integration by consumers via unified cloud APIs.

Xignite Reference - Aggregate, normalize, store and index vendor reference data to centralize enterprise-wide access.

Xignite Historical - Provide centralized access to normalized, stitched and adjusted historical data via cloud APIs.

Xignite Real-Time - Distribute real-time vendor data via cloud APIs, eliminating on-premise infrastructure.

Xignite Fundamentals - Make simple and complex time-series data structures available via cloud APIs.

“Xignite has pioneered market data in the cloud for more than 10 years now, so we are very excited to announce – and be recognized for – our Market Data Management-as-a-Service solution,” said Stephane Dubois, CEO, and founder of Xignite. “The pandemic has reinforced the need for financial services firms to migrate to the cloud as a means of navigating disruption and enabling scalability, among other benefits. We are proud to spearhead that effort and help the industry modernize its approach to financial and market data.”

About Xignite

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 via its Data-as-a-Service and Market Data Management-as-a-Service solutions. Today, more than 700 clients access over 500 cloud-native APIs and leverage a suite of specialized microservices to build efficient and cost-effective enterprise data management solutions. Visit http://www.xignite.com or follow on Twitter @xignite

01/06/2021