September 25, 2015
Xignite, a financial market data cloud API provider, recently launched a collection of APIs called the #FintechRevolution in partnership with Yodlee, Nasdaq, ChartIQ, ValueStream and many other Fintech companies. The program is spearheaded by Xignite and membership is open to Fintech vendors, data vendors, service providers and accelerators. Firms ranging from startup to renowned companies have come together to launch this program.
#FintechRevolution at present, is a consortium of 21 companies contributing their APIs to the network. Participating companies are promoting Fintech APIs by taking initiatives like sharing research data, marketing best practices, and many others.
Greg Weddell, Business Banking Practice Manager at Yodlee, retweeted:
The #FintechRevolution is aimed at inspiring a new generation of financial applications developers by bringing the best APIs in each market category together for them. The API catalog powered by Xignite has APIs of all the participating members listed and developers can access APIs of their choice with the help of the catalog. This partnership will enable developers to have access to non-traditional APIs such as trading sentiment, crowdsourced stock ratings and corporate governance records along with Xignite’s market data APIs which was previously not possible.
The founding members of the #FintechRevolution API Ecosystem include the following firms:
Advisor Software - Portfolio Management APIs
ChartIQ - HTML5 Charting APIs
EdgeLab – Risk, Valuation, and Optimization APIs
Planwise – Financial Planning APIs
QuantConnect – Algorithmic Trading APIs
Tradier – Trading and Execution 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
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
Draper University – Silicon Valley
ValueStream – New York City
Fintech Sandbox – Boston
Level39 – London
Stephane Dubois, CEO and Founder of Xignite Inc. told to LTP in an interview,
An API done well could be a huge advantage for a startup and can help a startup speed up the process of bringing a new product to the market. Earlier, startups use to build everything in-house and for on-premise. All FinTech companies now float their products on cloud services, so they should be able to access API data like an on-premise database. If it’s on the cloud, it’s on their fingertips. So in the case of using APIs, a startup does not need to build everything from scratch and they can use already existing APIs to build the product.
Xignite, founded in 2006 is another fast growing company that provides financial market data and financial web services. They have come a long way offering a large suite of solutions. Xignite forays into cloud API that makes it even easier to integrate their API into our financial applications. According to the company’s website, cloud APIs eliminates the need for setting up costly infrastructure and rather high-quality data can be gathered from their cloud API with just a few lines of codes. Xignite markets solutions for financial applications in the wealth management, multi-currency e-commerce, ERP and hedge fund sectors.