Initiative Fuels Fintech Innovation by Allowing Easy Access to Massive Set of APIs
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 Yodlee, Stocktwits, Tradier and Nasdaq and fintech accelerators including Level39 and ValueStream. 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.”
The founding members of the #FintechRevolution API Ecosystem include the following firms:
#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."
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