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Young Entrepreneurs Utilize Xignite Market Data to Build Personal Finance Management App at Weekend Hackathon

Xignite

Winning Team‘s Fintech App Encourages Millennials to Create Savings Goals

Xignite, the leading provider of cloud-based financial market data, has named a team of young entrepreneurs as the winner of the best use of a Xignite market data API at the recent Capital One People & Money Hackathon. Elyse Lefebvre, Lucas Farah and Simone Totaro utilized Xignite’s market data APIs to design a financial planning application that enables millennial users to allocate their paychecks in order to improve their personal money management.

Cash-strapped millennials are not saving money, according to a recent study by Moody's Analytics, and after interviewing a group of millennial peers, the three young hackers saw this first-hand. The majority of those surveyed by the team were not properly managing their finances and wanted to feel more secure about their future.

The app developed by the winning Xignite team enables users to automatically divide their paychecks across four accounts – checking, emergency savings, rainy day savings and investments – by securely connecting to their bank accounts. Users can input savings goals and further integrate their accounts with social media profiles in order to assess their personality traits and generate a personal risk tolerance. Based on a user's current financial status and risk profile, their paycheck is automatically allocated into the right account. The app utilizes analytics, powered by Xignite market data, to determine a user's investment portfolio and project their returns over time.

“We understand that millennials hold great power in today’s marketplace, and finding an easy-to-use, intuitive app that meets a common need amongst this group is a goal for many entrepreneurs in 2015,” said Lefebvre. “Using Xignite’s market data, we were able to build a powerful app very quickly that provides users with the ability to automatically and seamlessly manage their finances. We felt this enables millennials to be more responsible and confident in their personal money management.”

The Capital One Hackathon brought together students, designers, business strategists and startups to spend a weekend coding to create personal financial management tools that would support the living, spending and saving trends of millennials. Elyse Lefebvre is a product manager at Monkey Inferno, a personal incubation lab that designs and builds consumer applications, Lucas Farah is an iOS developer and hackathon veteran from Brazil, and Simone Totaro is a business development fellow at Tradecraft, a full-time, immersive training program for individuals, who wants to become a UX designer, growth hacker, or sales and business development professional.

“We are seeing more millennials take a proactive role in the fintech world,” said Stephane Dubois, CEO of Xignite. “The bright ideas and skills of today’s entrepreneurs are the future of financial service technology, and the innovation we witnessed at the Capital One hackathon is testament to the great potential and impact of APIs in optimizing financial investment and management solutions, especially for the millennial generation.”

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 easy and more cost-effective than alternative data feeds. 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 innovators Wealthfront, Betterment, Personal Capital, Motif Investing, Robinhood, StockTwits, and Yodlee. The company’s platform also powers private data distribution solutions for exchanges, market data vendors and financial institutions, including NASDAQ OMX, SIX Financial Information and BMO. For more information, visit http://www.xignite.com or follow on Twitter @xignite.

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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

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