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Yodlee Interactive's ACE Ecosystem Gives Financial Institutions Access To Over 20 New FinDat Solutions From Companies Such as Xignite, Execu

Xignite

Yodlee Interactive helps banks drive innovation, diversify offerings and create new revenue streams, enabling any financial institution to integrate FinApps from over 20 certified partners

REDWOOD CITY, Calif. -- September 4, 2013 --Yodlee Interactive, the recognized enabler powering financial innovation, is proud to announce the launch of ACE™ (Active Commerce Exchange), a partner focused ecosystem that pairs financial institutions with proven FinApp solutions built by innovative technology companies. ACE launches today with over 20 initial partners, but will continue to add innovative solution providers into the network as they become available. Today’s ACE FinApps cover a wide range of uses, across five key segments: small business, wealth, retail, cards and mobile. The ACE ecosystem will provide financial institutions leveraging Yodlee’s cloud platform with new financial tools and solutions that they can bring to market quickly and efficiently, while also offering new revenue opportunities and improved customer satisfaction.

Learn more about ACE:

The ACE ecosystem will help resolve an ongoing challenge in the financial services industry by making it easy for nimble startups and technology leaders to build secure, certified digital financial solutions for financial institutions of all sizes. Leveraging its world-class network of company and financial institution partners, in tandem with its flexible and powerful developer platform, Yodlee Interactive is powering an ecosystem that accelerates the exchange of new financial solutions. Financial institutions working within ACE will see significant improvements in the innovation process, including faster time to market for in demand services, higher solutions quality, greater technical flexibility across all digital channels and a trusted partner in Yodlee to help navigate through the process.

Financial institutions have struggled to maintain customer satisfaction and traditional revenue streams in today’s difficult regulatory and economic environment, and they are discovering that providing new technology services may be the key to help them improve customers satisfaction, while also creating new revenue opportunities. A recent J.D. Power and Associates study found that customer satisfaction at large financial institutions increased proportionately as those institutions shifted their customer engagement focus toward more advanced online banking services. Yodlee Interactive’s ACE partner ecosystem seeks to accelerate and enhance the transition to advanced digital banking by offering third-party solutions from the industry’s brightest new companies and developers, and making it easy for financial institutions to integrate via the Yodlee platform. ACE already has over 20 companies in the ecosystem at launch, including BillGuard, Buy It Mobility Networks (BIM), Execupay, FreeAgent, FutureAdvisor, LivePlan, miiCard, Narrative Science, PaySimple, PlanWise, Shoeboxed, Tallie/SpringAhead, TipRanks, TouMetis, WilliamPaid, Xero and Xignite.

"Creating a durable competitive advantage, one that can't easily be copied, includes a move to open platforms,” writes Cathy Graeber, VP, Principal Analyst at Forrester Research, Inc. “An open platform strategy will allow financial firms to use third-party providers to create app solutions that will create differentiation through a personalized user experience and segment-specific capabilities.”¹

“Finding, vetting, and then integrating digital financial services and solutions is a complex and time-consuming exercise that can take years to execute properly,” says Jennifer Wilson, Executive Vice President of BBVA Compass. “By leveraging Yodlee’s platform and the ACE ecosystem, we can easily integrate new services into our digital experience in months, rather than years, while offering our customers new, highly personalized experiences.”

In addition to providing financial institutions with rapid access to new innovations, ACE makes it even easier for developers and ACE partner companies to build best-in-class technology quickly across multiple digital channels and platforms. ACE’s developer tools are fully REST and JSON compatible, with HTML functionality that can work across web and mobile offerings, ensuring maximum developer efficiency across available platforms. Additionally, the ACE ecosystem helps developers reach millions of potential users through participating financial institutions without the need to establish relationships on an institution by institution basis.

“As trusted, long term partners to major global financial institutions, we know first hand the challenges they face trying to innovate in a complex legal and regulatory environment”, said Joe Polverari, general manager of Yodlee Interactive. “We’re trying to help financial institutions meet those challenges by bringing together Yodlee’s secure, certified platform and the dynamic developer community represented in ACE. Both financial institutions and their customers will benefit with ongoing, streamlined access to the digital financial services they are demanding.”

¹”Trends 2013: Five Trends Shaping The Next Generation Of North American Digital Banking”, Forrester Research, May, 2013

About Yodlee & Yodlee Interactive

Yodlee is the platform for financial innovation. More than 600 companies globally, including 7 of the top 10 US financial institutions, rely on Yodlee to power personalized financial apps and services for millions of consumers, driving retention, engagement and revenue. Leveraging the industry’s largest financial data platform, Yodlee also delivers real-time insight into consumer behaviors to create more dynamic interactions – anywhere, anytime, on any device.

Yodlee Interactive is focused on making the Yodlee platform available everywhere that value can be created by entrepreneurs, partners, and developers building digital financial apps and services. As the architects of a new digital ecosystem, Yodlee Interactive optimizes the wisdom of the financial technology crowd to create, catalyze and distribute innovations faster through an open and secure data API. Used by hundreds of companies, both small and large, Yodlee Interactive is the horsepower behind today’s coolest and most personalized digital experiences.

Yodlee is headquartered in Redwood City, California. For more information, visit www.yodlee.com.

RECENT NEWS

Xignite, Inc., a provider of market data distribution and management solutions for financial services and technology companies, announced today it has enhanced the data coverage for its’ interbanks and interest rates APIs in preparation for the required transition from the London Interbank Offered Rate (LIBOR) benchmark interest rate at the end of 2021.

Used in financial products such as adjustable-rate mortgages, consumer loans, credit cards and derivatives, LIBOR has been the world's most widely used benchmark for short-term rates. But after the 2008 financial crisis the U.S. Federal Reserve recommended a new benchmark interest rate to replace the outdated and problematic LIBOR. In the U.S market the new benchmark is Secured Overnight Funding Rate (SOFR), which is based on transactions in the U.S. Treasury repurchase, or repo, market, where banks and investors borrow or lend Treasuries overnight. Other countries are introducing their own local-currency-denominated alternative reference rates for short-term lending.

Xignite banking, and Fintech customers that build apps for capital markets, investment management, financing, and foreign currency exchange purposes, require interbank and interest rates data to manage exchange and interest rate risk. Xignite enhanced its Interbanks and Rates APIs with SOFR earlier this year and has now added four of the alternative overnight risk-free rates (RFRs) recommended to replace LIBOR for currencies in respective markets. The new rates include Euro Short-Term Rate (ESTR), Swiss Reference Rates (SARON), Sterling Overnight Index Average (SONIA), and Tokyo Overnight Average Rate (TONAR). These additional rates are available now at no additional cost to customers.

“Our rates and InterBanks APIs were the first REST APIs ever released to serve the needs of the lending and banking industries. They uniquely aggregate rates that are used by dozens of firms globally in critical business processes,” said Vijay Choudhary, Vice President of Product Management for Xignite “Given the major shift the industry is experiencing regarding reference rates, it was critical for us to support those new rates to give our clients the data they need to run their businesses,” added Choudhary.

Xignite’s Interbanks API offers real-time and historical interbank and deposit rates for currencies in 40 countries. Xignite’s Interest Rates API provides interest rate data for over 600 global treasury, money market and private capital market instruments and benchmarks. The new alternative T+1 (24hr+ delayed) rates include:

  •         Europe: Euro Short-Term Rate (ESTR) is an interest rate benchmark that reflects the overnight borrowing costs of banks within the eurozone. The rate is calculated and published by the European Central Bank.
  •         Switzerland: Swiss Reference Rates (SARON) represents the overnight interest rate of the secured money market for Swiss francs (CHF). The rate is calculated and published by SIX.
  •         United Kingdom: Sterling Overnight Index Average (SONIA) is the effective overnight interest rate paid by banks for unsecured transactions in the British sterling.
  •         Japan: Tokyo Overnight Average Rate (TONAR) is an unsecured interbank overnight interest rate and reference rate for the Japanese yen. The rate is calculated and published by the Bank of Japan.

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. 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.

06/09/2021

Xignite, Inc., a provider of cloud-based market data distribution and management solutions for financial services and technology companies, today introduced XigniteGlobalCorporateActions, a new advanced API providing detailed corporate actions data for events such as stock splits, dividends, mergers, and spinoffs. The COVID-19 pandemic has led to a dramatic increase in corporate actions, annual meetings canceled, dividend payouts suspensions, and an accelerated company mergers and acquisitions rate. Knowing when a company plans to offer a split or undertake an acquisition is critical for buy-side and sell-side firms.

Corporate action processing is one of the “last frontiers of pain” for investment management, and one of the most manual and complex parts of back-office operations. The lack of uniformity and standards makes it difficult to identify and interpret information correctly. Obtaining accurate and timely information is challenging, and errors can result in painful financial losses. The XigniteGlobalCorporateActions is the first cloud-based REST API to eliminate the pains and complexity caused by legacy data feed and files. The API provides a single-source data stream with consistent information gathered from more than 190 exchanges and over 30,000 U.S. mutual funds.

The recent split of TSLA and AAPL stock on the same day illustrates the complex and far-reaching impact of corporate actions. If a firm does not do this correctly, it will show on historical charts, and their customers will notice. Xignite’s Data Quality team cross-validates our corporate actions data across sources and proactively detects and fixes any missing information. This prevents missing issues such as the TSLA and AAPL splits.

“The industry is facing a ‘perfect storm’”, says Vijay Choudhary, Vice President of Product Management for Xignite. “On one hand you have a massive wave of corporate actions fueled by the pandemic and the rising markets, and on the other you have millions of new retail investors eyeballing their investment applications all day long. One bad corporate action can send your customer service department into a tailspin,” added Choudhary. Additional detail on the Corporate Actions API endpoints:

GetDistributions - Returns cash and stock dividends as declared by the company for a requested security and date range.

GetDistributionsByExchange - Returns cash and stock dividends as declared by the company for a requested exchange and date.

GetEventSummaries - Provides a high-level overview of events for a requested security and date range.

GetMergers - Returns merger events for a given identifier and date range.

GetSpinoffs - Returns spinoff events for a given identifier and date range.

GetSplits - Returns the stock split history for a security for a specified date range.

GetTakeovers - Returns takeover events for a given identifier and date range.

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 specialized microservices-delivered modules to build efficient and cost-effective enterprise data management solutions. Visit http://www.xignite.com or follow on Twitter @xignite

05/18/2021

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

02/25/2021