Aug 19, 2020
Xignite is proud to provide the real-time and historical stock data that powers SoFi's Invest platform, a robo-advisor which offers free stock trading, crypto trading and ETFs. Download SoiFi Case Study to learn how SoFi increased client engagement 25% in just one day.
SoFi uses Xignite fundamental APIs to create what it calls Collections - curated lists of stocks in more easily digestible formats. To build these Collections, the SoFi team queries the Xignite data to populate and create groups of securities based on certain characteristics – for example, “Dividend Growers” or “Top Tech Picks.” SoFi continually tests this content: adding a Collection, monitoring its performance and removing the least popular ones before adding to the roster. The firm is constantly thinking of new ways to organize their offerings and make them easy for investors, and the ability to use Xignite data to quickly create these Collections is key.
SoFi also leverages Xignite CloudAlerts. The automatic notification capabilities of this API make it easy to send alerts en masse. SoFi reports that when an alert is sent, member engagement increases by 25% within a day. More importantly, these alerts are driving buying behavior—10% of investors who receive the alerts make a trade within the hour, and nearly 20% do so within a day, a huge improvement on the daily average of 5%. These alerts have proven to be very popular with clients, who see the information and can act accordingly, pulling them from their busy lives and into the world of trading.
Click HERE to download the case study containing the full results.
[Case Study] SoFi
Learn how SoFi Increased Client Engagement 25% in a Day