News

Yodlee Supercharges Digital Finance Platform With Xignite’s Industry-Leading Market Data

Xignite

 

Technology partnership offers strengthened financial tools to wealth management and financial advisor firms – 90 percent of whom lack basic digital capabilities like account aggregation.

 

FinovateSpring, San Jose– April 29, 2014 – Yodlee, the leading platform for digital financial services, today announces a technology partnership with market data provider Xignite. The partnership gives users of Yodlee’s cloud-based financial platform increased access to industry-leading investment data, and offers vital solutions for the 90 percent1 of financial services providers lacking basic digital offerings.

 

Investors need accessible, engaging financial tools powered by comprehensive account and market data in order to put their wealth to work effectively. With more than half of all American smartphone users utilizing mobile banking, the ability to access tools and data across multiple digital channels is more important than ever. Xignite’s market data APIs – which offers investors information about everything from stocks, mutual funds and bonds to metals and foreign currency – gives users of Yodlee’s platform deeper insight into vital investment opportunities, and will integrate closely with Yodlee’s omnichannel wealth management and banking tools. Additionally, companies using Yodlee’s data platform, which include leading wealth management technology providers like LearnVest, PlanWise and FutureAdvisor, can use these enhanced data streams to deepen user engagement.

 

“Like many major financial institutions, wealth management providers need to offer robust, agile, digital offerings in order to keep up with investors’ changing needs,” Yodlee CEO Anil Arora said. “We’re excited to further strengthen Yodlee’s wealth management platforms with Xignite’s stellar market data.”

 

The partnership marks the latest of several recent expansions to Yodlee’s platform, which provides digital banking, financial data and account aggregation for nine of the top 15 American banks and more than 750 companies worldwide. The company recently announced partnerships with Xero and FeeX, and released Yodlee SmallBusiness, a suite of new small business-focused tools.

 

“We are excited to partner with Yodlee to enhance their financial services platform with Xignite market data,” said Stephane Dubois, Xignite CEO and Founder. “Yodlee has been setting the standard in personal financial management for many years, and combining our market data with Yodlee’s unique account information will help financial institutions and developers build more innovative apps and unique customer experiences than ever before.”

 

To learn more about Yoldee’s platform, please visit http://www.yodlee.com/financial-institutions/

 

About Yodlee

 

Yodlee is a leading technology and applications platform powering dynamic, cloud-based innovation for digital financial services. More than 750 companies in over 10 countries, including 9 of the 15 largest U.S. banks and hundreds of Internet services companies, subscribe to the Yodlee platform to power personalized financial apps and services for millions of consumers. Yodlee solutions help transform the speed and delivery of financial innovation, improve digital customer experiences, and deepen customer engagement.

 

Yodlee is headquartered in Redwood City, CA with global offices in London and Bangalore. For more information, visit www.yodlee.com.

 

About Xignite

 

Xignite, Inc. is the leading provider of market data cloud solutions. Xignite makes sourcing and integrating real-time and reference market data into apps and devices easier and more cost-effective than any alternative. The Silicon Valley-based company is helping fuel FinTech innovation by powering web sites and apps for more than 1000 financial services, media, software and corporate clients, including FinTech standouts BettermentFuture Advisor, Personal CapitalSigFigWealthfront, Wealthminder and Yodlee. The company’s platform also powers private data distribution solutions for exchanges, market data vendors and financial institutions including NASDAQ OMX, NYSE Technologies, Direct Edge and SIX Financial Information. For more information, visit http://www.xignite.com.

 

Media Contacts

 

VSC for Yodlee

James Christopherson

james@vscconsulting.com

 

Xignite Media Contact

Kerry Langstaff

klangstaff@xignite.com

650-242-4466

 

1Multiple Hands on the Wheel: Top 10 Wealth Management Technology Initiatives for 2012, presented at the 2013 Tower Group Financial Services Technology Conference

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