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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.

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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.

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