Xignite Unveils its Enterprise Microservices Suite

Financial market data distribution and management solutions provider Xignite has launched a new set of market data management services to change the way businesses manage their data in the cloud. Xignite Enterprise Microservices is a suite of solutions that make it easier and more efficient for companies to store, distribute, manage, and control market data.

The microservices approach – embraced by Xignite in this latest offering – provides core functionality via a combination of “loosely coupled, independently deployable components.” Not only can these components work together or separately, but also they can be massively scaled at a very low cost. This compares favorably to legacy systems, which often consist of monolithic platforms that are more expensive, difficult to scale and manage, and typically not used at full capacity.

Xignite Enterprise Microservices runs on Xignite’s cloud-based architecture, which supports 250+ different data sources and 12 billion API calls daily for more than 750 clients in fintech and financial services. The vendor-agnostic solution has already been deployed by fellow Finovate alum NICE Actimize.

“We are incredibly excited to launch Xignite Enterprise Microservices, which we believe will truly revolutionize market data management,” Xignite founder and CEO Stephane Dubois said. “The culmination of over 10 years of nonstop innovation, we have taken the cloud-native architecture that has powered some of the world’s most prominent fintechs and scaled it to meet the unique requirements of institutional players that consume huge amounts of data but often have no way of integrating and optimizing it in an efficient and cost-effective way.”

The suite consists of seven cloud-native microservices tailored for both buy and sell-side firms, fintechs, and exchanges. These include:

  • Data Lake
  • Optimization
  • Entitlements and Usage
  • Reference
  • Historical
  • Real-Time
  • Fundamentals

Headquartered in San Mateo, California, Xignite introduced its data-as-a-service market data solution in 2006, and has been a Finovate alum since 2014. Recently, the company announced that it had enhanced its financial data cloud APIs to streamline delivery of news headlines and company earnings during the global public health crisis. This announcement followed news from the company that it was seeing “record demand” for its financial data during the pandemic.

“The past two-and-a-half months have been difficult both within our industry and in the wider world,” Dubois said. “It is reassuring to know that we’ve been a reliable source for our clients in these trying times. There is enough to worry about right now and nobody wants their market data providers to be a part of that.”


Photo by Miguel Á. Padriñán from Pexels

Finovate Alums Earn Top Honors in Wealthtech 100

More than ten Finovate alums have earned spots on Fintech Global’s second annual Wealthtech 100 roster. The collection of companies is meant to represent the most innovative businesses operating in the wealth and asset space worldwide.

Companies were evaluated based on a variety of criteria ranging from industry significance and technological innovation to growth in capital raised and the ability of the company to save clients money, boost revenues, or increase efficiency. More than 1,200 companies were provided by Fintech Global to its judging panel of fintech analysts and industry experts.

Here are our winning Finovate alums:

“We’re thrilled to have made the WealthTech 100 list from Fintech Global,” Wealth Wizards said on Twitter after the news was announced. “There are some brilliant U.K. firms included.” Finantix and additiv also tweeted about the announcement this week.

See the full WealthTech 100 roster.

Headquartered in London, U.K., Fintech Global provides comprehensive data, insights, and analytical tools on fintech around the world.

Xignite Secures Patent for Market Data Driven Alerts; eXate Earns Accelerator Spot

Market data distribution and management solutions provide Xignite has scored a patent for the technology behind its CloudAlerts REST API. The patent recognizes the company’s innovation in developing real-time alerts based on pre-defined stock market conditions. This technology can be added to website or mobile apps by developers to provide users with real-time, automatic notifications on everything from price breakouts to volume surges via SMS, email or onscreen.

What’s unique about Xignite’s approach is the way it is able to deliver market data-driven user alerts at scale, incorporating both the wide variety of user preferences as well as processing a sizable volume of exception conditions in real-time. Fellow Finovate alum SoFi leverages Xignite CloudAlerts in its SoFi Invest service, using the technology to warn investors when a portfolio holding drops below critical levels.

“SoFi saw record investing activity last week during the coronavirus outbreak and that really tested our alerts system,” SoFi Trading and Investment Manager Samuel Nofzinger said. “Our customers value the alerts because they help them invest and protect their money better, especially in today’s volatile market.”


Congratulations to eXate Technologies. The U.K.-based cybersecurity firm – and FinovateEurope 2018 alumearned a spot in Tech Nation’s Cyber 2.0 growth program. This year’s class marks the second cohort for the program, which is geared toward early-stage cybersecurity startups. Companies participating in the six-month accelerator get peer-to-peer learning with program mentors, masterclasses led by expert scale coaches, as well as meetups and networking with peers, investors, and potential clients.


Add Onfido to the list of Finovate alums that are pitching in to help organizations manage the COVID-19 pandemic. The company announced late last week that it is offering six free months’ use of its biometric identity solution to nonprofit organizations that are fighting the coronavirus. Nonprofits in healthcare, home care, and education are among those to benefit from the program, including a company that uses Onfido’s technology to verify completion of COVID-19 testing.


The Finovate Podcast is on fire! If you’ve not been able to keep up, here are links to the latest conversations with host Greg Palmer.


Here is our weekly roundup of news from our Finovate alums.

  • FreeAgent partners with NatWest to offer its customers online cloud accounting software.
  • Zogo Finance drops app set-up fees for its credit union customers in Louisiana.
  • Ellie Mae announces general availability of peer benchmarking comparison analysis solution, Ellie Mae Insights.
  • Baker Hill launches NextGen SBA Fast Track to help SMBs access CARES Act and Paycheck Protection Program (PPP) funds.
  • Temenos wins Google Cloud Technology Partner of the Year award.
  • NYMBUS teams up with NCR Corporation to help SMBs impacted by COVID-19.
  • University First FCU brings on Insuritas to launch a digital insurance agency.
  • Artegence and Efigence become Magnolia Platinum Partners.
  • Kabbage partners with an undisclosed bank to deliver Paycheck Protection Program (PPP) loans to U.S. small businesses.
  • Moven founder Brett King hints at partnership with Varo Money, encourages users to open an account.
  • ShopKeep and Lendio partner to help small businesses access COVID-19 funds.
  • ATFX now accepting payments via Trustly.
  • ACI Worldwide unveils new “Delay My Payment” feature of its ACI Speedpay solution to help billers and consumers during the COVID crisis.
  • DriveWealth launches DriveHSA, a new tool for Health Savings Account platform providers.
  • Kasasa sees a 288% increase in borrowers using its Take-Back feature.
  • Stash now counts one million banking customers.
  • MX launches portal for banks navigating the Small Business Administration’s new Payment Protection Program.
  • Credit Hero leverages Salt Edge to access borrower’s bank data.
  • Finanteq introduces new initiative to provide free digital banking tools – Pocket Branch and Extentum – to banks during the coronavirus pandemic.
  • Bankjoy hosts online summit to address how credit unions and fintechs can partner to respond to the economic challenges of COVID-19.

Finovate Alumni Features and Profiles

The Importance of Financial Literacy During Uncertain Economic Times – A growing number of fintechs – many of them Finovate alums you’ll meet below – have devised innovative ways to help young people in particular, become better earners, savers, spenders, and investors.

Kabbage Collaborates with Facebook to Back Retailers During the COVID Crisis – Together, the two companies will help merchants continue to generate revenue at a time when their customers – for sound reasons based on public health – are largely staying away.

SoFi Inks Agreement to Acquire Galileo Financial Technologies – In a cash and stock deal valued at $1.2 billion, online lender and personal finance innovator SoFi has agreed to acquire financial services API and payments platform, Galileo Financial Technologies.

Building a Financial Advisor for Main Street America – We recently chatted with SuperMoney founder and CEO Miron Lulic to give us an update on the company’s platform that helps consumers reach their financial goals.

BankBazaar Adds $3.8 Million to Series D – The capital comes from Amazon and Walden SKT Venture Fund, who have joined Sequoia, GUS Holdings, and Eight Roads Investments in the round. 

Xignite to Power WealthSimple’s New Stock Trading App

Financial market data provider Xignite serves 9+ million API calls per day and with today’s announcement of a new partnership, the company will add handsomely to that number. Xignite has partnered with Canada’s WealthSimple, which will leverage the California-based company’s APIs to power its new mobile stock trading app, WealthSimple Trade.

The app enables users to buy and sell more than 8,000 publicly-traded stocks and ETFs. Embedded within the app, Xignite’s APIs offer users real-time stock price data, information to power trades, and algorithms that automate users’ investment decisions.

“We are proud to be a key enabler of the fintech revolution in Canada,” said Stephane Dubois, Xignite CEO. “We help power and inspire the disruption of the financial services industry by providing entrepreneurs like Wealthsimple with financial data APIs to help them invent new businesses and revolutionary user experiences. The world’s leading robo-advisors use Xignite market data to power their platforms and apps.”

Xignite sources its cloud-based market data from 250+ providers, including data collectors, data originators, feed consolidators, OTC marketplaces, and index companies. In addition to leveraging data from Morningstar, FactSet, and EuroNext, Xignite also curates its own data. The comprehensive nature of Xignite’s data eliminates the need for clients to work with multiple vendors.

Xignite, which counts Interactive Data and Quandl as competitors, provides data to more than 800 organizations across the globe, including fellow Finovate alums Betterment, Personal Capital, Envestnet, and eToro. The company has raised almost $38 million since it was founded in 2000.

At the company’s FinovateAsia 2017 demo, Dubois showcased the Xignite Cloud Add-in, which integrates market data into spreadsheets.

Finovate Alumni News

On Finovate.com

  • Xignite to Power WealthSimple’s New Stock Trading App.
  • Kony Secures $37 Million in Financing from BMO.
  • Sezzle Raises $30 Million in IPO.
  • Vymo Reels in $18 Million for its Intelligent Sales Assistant.

Around the web

  • Deal sealed: Fiserv completes acquisition of First Data.
  • Visa announces strategic partnership with SME banking service Open.
  • eToro enables retail customers to invest in drone technology via its latest portfolio.
  • iGTB to enhance trade finance operations for two Raiffeisen banks, Niederosterreich-Wien and Landesbank Steiermark.
  • CREALOGIX to power new consumer digital investment platform from MeDirect Group.
  • JP Morgan Chase ends loan origination partnership with OnDeck.
  • ThetaRay brings on Idan Keret as Chief Customer Success Officer.
  • GreenDot offers customers 3% cash back on online and in-app purchases and a savings account paying 3% APY.
  • Fintech Finance interviews Olga Feldmeier, Smart Valor CEO.
  • Redrock Biometrics secures a perfect score in Level 1 Presentation Attack Detection confirmation testing by iBeta.
  • SpyCloud expands into Europe, the Middle East, and Africa.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Xignite Forges Strategic Partnership with XPansion

Financial markets data provider Xignite has inked a deal with data usage, tracking, and business monitoring software firm Xpansion that will give capital markets customers even better visibility into and management of their data use and expense.

“Market data is a complex environment where vendor fees and commercial licensing models continue to change, putting pressure on buy and sell side firms to control access and costs,” Xignite CEO and founder Stephane Dubois explained. He added that helping customers more efficiently use market data flow was a key element in the company’s goal of “simplifying, the acquisition, management, and dissemination of market data.”

The strategic partnership will enable Xignite to integrate Xpansion’s XMon analytics and reporting functionality into its Market Data Cloud Platform. This will give Xignite customers enhanced business intelligence, analytics, and reporting capabilities, as well as dashboards and reporting tools to help users analyze and control market data use, as well as manage costs across multiple data vendors.

“Clients consume increasing amounts of data and coupling powerful analytics with a robust data distribution platform is essential in today’s data landscape,” XPansion director and co-founder Amjad Zoghbi said. Zoghbi referred to bringing greater transparency and spending controls to the use of market data as the company’s “focus from the beginning.”

XPansion specializes in cloud-based solutions that help data operations and management teams control data usage better, improving both cost-effectiveness and data governance. The company’s flagship XMon Static Data solution delivers real-time tracking of data requested from external data vendors, data flowing between internal applications and systems, and data exiting the firm as in reports or customer exports. Based in London, U.K., XPansion was founded in 2013.

Headquartered in San Mateo, California, Xignite demonstrated its Cloud Add-in solution at FinovateAsia 2017. The add-in caters to the 1.2 billion Excel users worldwide, enabling them to easily and quickly introduce data – including real-time streaming data – into their Excel spreadsheets.

Earlier this month, Xignite announced that it was the first market data vendor to join the Snowflake Data Exchange. This spring, the company was named to the WealthTech 100, along with seven of its clients including fellow Finovate alums eToro and Tradeit. Also this spring, Xignite announced a partnership with StockCharts.com.

Xignite has raised $37.6 million in funding. QUICK Corporation and StarVest Partners are among the company’s investors.

Finovate Alumni News

On Finovate.com

  • Spain Approves Neo as a B2B Challenger Bank.
  • Bill.com Boosts Support for International Payments Offering.
  • Xignite Forges Strategic Partnership with XPansion.
  • Bitbond Celebrates Successful STO; Raises More than $2.3 Million in New Capital.
  • PayPal’s Hyperwallet to make sure Limebike’s gig workers get paid for charging scooters.

Around the web

  • Baker Hill’s NextGen to power growth in commercial lending for Hawaii State FCU.
  • Digital Onboarding to grow engagement and provide the digital banking experience for Manatee Community FCU.
  • Daon to fuel security component of CTMS’ KYC and onboarding solutions aimed at banks in France.
  • Revolut unveils new tech hub in Berlin.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • RISQ Teams Up with Aion Digital to Boost SME Lending in MENA.
  • More Than $1.8 Billion Raised by 29 Alums in Q2 2019.

Around the web

  • Blockchain startup up Saga to deploy treasury management tech from FIS.
  • Deutsche Bank partners with Finantix to enhance its Wealth Management division’s onboarding and KYC processes.
  • Xignite joins the Snowflake Data Exchange, the first market data vendor to do so.
  • Endor co-founder and CEO Dr. Yaniv Altshuler talks about his background in the crypto space with CryptoNewsZ.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • BlueVine and GovQuote Team Up to Fund SMEs.
  • Bpm’online Focuses on Customization, Clean Data in Latest Update.

Around the web

  • Sberbank Croatia chooses Token for PSD2 compliance.
  • Silicon Canals highlights Meniga in its list of 10 Cool Icelandic Tech Startups to Work for in 2019.
  • MX wins a 2019 Utah Genius award.
  • U.Today features Stash and Crealogix in its roundup of Top 12 FinTech Companies to Watch in 2019.
  • Xignite earns spot on the WealthTech 100.
  • Lendio franchise opens in Erie to expand access to capital for local businesses
  • InComm’s Alder API wins award from the Innovative Payments Association.
  • BioCatch’s behavioral biometrics-based digital identity solution now available on the ForgeRock Marketplace.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Xignite Teams Up with StockCharts.com

Financial market data cloud company Xignite has partnered with financial charting and technical analysis platform, StockCharts.com. The collaboration will enable the popular online destination for traders and investors to significantly increase its market reach around the world, as well as boost StockCharts.com’s ability to offer more data – including data on international markets.

“StockCharts’ innovative charting solutions are now powered by Xignite REST APIs,” Stephane Dubois, CEO and founder of Xignite said. “(These APISs) harmoniously integrate multiple types of stock price data into their app.” Dubois also highlighted the fact that the company will benefit from having its market data hosted in the Amazon Web Services (AWS) cloud. “Xignite has freed StockCharts from the constraints of hardware and software, allowing them to deliver spectacular financial charts to millions of users each month,” he said.

Founded in 1999 by Chip Anderson, an early Microsoft developer, StockCharts.com has since grown into one of the more widely used technical analysis platforms for retail traders and investors. With more than 1.5 million active monthly users globally, StockCharts.com celebrated its 20th anniversary earlier this month. The company is headquartered in Redmond, Washington.

Xignite has more than 1,000 clients in financial services and serves more than 250 billion client API calls each month. The company offers 45 web services and more than 1,000 APIs to innovative fintechs like Betterment, Motif Investing, Robinhood, and Yodlee, as well as FIs like Charles Schwab and TIAA.

Named “one of the ten coolest brands in banking,” Xignite has been featured twice in the Forbes FinTech 50. Last year, the company was highlighted by Inc. Magazine in its look at 6 Fintechs Disrupting the Industry, along with fellow Finovate alums, Dwolla, Plaid, and Fidor Bank.

Xignite demonstrated its CloudAdd-in at FinovateAsia 2017. The solution enables the world’s more than 1.2 billion Excel users to access Xignite’s wealth of financial market data – including streaming data – via API and incorporate it directly into their spreadsheets. The San Mateo, California-based company was founded in 2006.

Finovate Alumni News

On Finovate.com

  • On Earth Day (and Every Day) Paperless is the Way to Be.
  • OutSystems Brings Benefits of Low Code Dev to U.K.s Biggest Manufacturers.

Around the Web

  • PayPal’s Venmo considering credit cards for monetization.
  • Micronotes awarded U.S. patent for AI-driven interactive marketing system.
  • CurrencyFair adds Indian Rupee to currency list.
  • Citi introduces biometric authentication for institutional customers in the APAC region.
  • With its IndiVideo solution, BlueRush and Chilean partner, Kunder, win Best Financial Services Online Video at the 2019 Internet Advertising Competition awards.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • The ID Co. Unveils its Income Verification Solution.
  • Finicity Partners with Pulte Mortgage to Accelerate Asset Verification.

Around the web

  • CBANC hires Mike Snavely as Chief Commercial Officer.
  • Congrats to 3rd Eyes, ArthaYantra, aixigo, BaseVenture, Capitalise, Entersekt, eToro, Finantix, Fincite, Finhorizon, ForwardLane, Hydrogen, Scalable Capital, Sentifi, Tradeit, Trizic, WealthWizards, WealthForge, and Xignite on being recognized in the Wealthtech 100.
    • Xero’s new invoicing experience available for all Xero customers and partners over the next two weeks
    • Nordigen opens new office in Spain to expand operations.
    • Yseop’s AI solution for Société Générale wins award for most innovative initiative of the year at this year’s Digital Finance Awards. Come see Yseop at FinovateSpring next month.
    • Contovista and NDGIT expand partnership, enabling Contovista to be implemented via the German NDGIT API marketplace.

    This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.