APIs Are Powering Fintech Innovation. What Is Next?
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Presented at Xignite API World 2016 - San Jose Look in to the history and role of APIs in Financial services and the Fintech Revolution, assess the current situation in fintech and finserv markets and discuss what the future of APIs in financial services might look like.
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APIs Are Powering Fintech Innovation. What Is Next?
- 1. xignite@sdubois APIs ARE POWERING FINTECH INNOVATION WHAT IS NEXT? xignite@sdubois Stephane Dubois – CEO & Founder – Xignite
- 3. xignite@sdubois MARKET DATA IS THE LIFEBLOOD OF FINTECH xignite@sdubois
- 4. xignite@sdubois MARKET DATA INDUSTRY 175 Years Old $26.6 Billion +1.2% Annual Growth xigniteSource: Burton-Taylor@sdubois
- 5. xignite@sdubois Source: Bloomberg xignite@sdubois
- 7. xignite@sdubois FINSERV EMPLOYEMENT 5M 6M 7M 8M 1980 1985 1990 1995 2000 2005 2010 2015 Source: Bureau of Labor Statistics
- 8. xignite@sdubois xignite@sdubois 1910’s-60’s TICKER TAPE 1990’s CLIENT SERVER 2000’s WEB 2010’s APIs 1970’s MAINFRAME quotron Vehicles Terminals Displays Mobile Wearables IoT Robo-Advisors Trading 1,000s OF BROKERS 10,000s OF TRADERS 100,000s OF ANALYSTS MILLIONS OF USERS BILLIONS OF DEVICES xignite EXPLOSION OF END POINTS
- 9. xignite@sdubois 2020 CONNECTED DEVICES 21 BILLION Source: Gartner
- 10. xignite@sdubois HOW DO YOU SERVE 20B DEVICES? CLOUD APIS
- 11. xignite@sdubois WHAT’S A CLOUD API? •Simple To Use •Standard Based •Unlimited Power www.xignite.com – San Mateo, California – Copyright © 2016. All Rights Reserved
- 12. xignite@sdubois API GENERATIONS Program Library Program Program Program Server Program Cloud Pre-History External Libraries (60’s) 1st Generation APIs RPCs (70’s-80’s) Network 2rd Generation APIs Web APIs (90’s-00’s) 3h Generation APIs Cloud APIs (00’s-10’s) Local Not Sharable Complex Not Scalable Remote Sharable Complex Not Scalable Internet Shared Simpler Scalable Internet Mutualized Simple Zero-Footprint Internet Internet
- 13. xignite@sdubois API HISTORY HTML W3C Standard IMG Tag First pointer to resources on external servers JavaScript First smart client capabilities IFRAME Tag Complex resource embedding 1996 Flash Complex resource embedding XMLHttpRequest First Web API Implementation AJAX First smart client logic First API (Maps) JSONP Call a server without a server REST Roy Fielding publishes his dissertation on REST CORBA First standard RPC First API First API First API JSON First Spec XML W3C Standard xignite First Commercial API First API First API First API S3 EC2 HTML5 First Spec SOAP W3C Standard xignite First Cloud API First API 1990 1991 1993 1995 1996 1999 Feb-00 2000 2001 Jul-02Nov-00 Jun-05 Feb-05 Dec-05 1996 Aug-03 Jul-04 Aug-06 Sep-06Mar-06 Sep-121998 Oct-10Oct-08 Nov-13 FINTECH WAVE First API Oct-08 Jun-07 Jun-08 App Store iPhone 1 First API Oct-02 Jeff Bezos API Memo
- 16. xignite@sdubois XIGNITE FIRST API http://web.archive.org/web/20031024042925/http://www.xignite.com/xRealTime.asmx?op=GetRealQuote www.xignite.com – San Mateo, California – Copyright © 2016. All Rights Reserved
- 17. xignite@sdubois USAGE SINCE INCEPTION 0.0002B 0.002B 0.02B 0.2B 1.6B 3.8B 40B 71B 137B 456B 1,395B 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Fcast
- 18. xignite@sdubois
- 19. xignite@sdubois API 4 COMMA CLUB xignite ?
- 20. xignite@sdubois SOFTWARE IS EATING THE WORLD
- 21. xignite@sdubois XIGNITE IN NUMBERS 750B Requests 16’ YTD 650 API End Points 150 Data Sources 1100+ Clients $37M Raised 45 Employees
- 23. xignite@sdubois POST-CRISIS REGULATION OPENED THE ROAD FOR FINTECH
- 24. xignite@sdubois 0 500 1000 1500 2000 2500 0 2000 4000 6000 8000 10000 12000 14000 16000 18000 20000 MARKETS AT AN ALL-TIME HIGH DOW JONES INDUSTRIAL AND S&P500 2000-2015 $5,000,000 $500,000 $50,000 $5,000 2000 2005 2009 2011 FINTECH REVOLUTION DRIVERS ECONOMICAL FACTORS SOCIAL FACTORS TECHNOLOGICAL FACTORS NEW MILLENIAL EXPERIENCE COST TO BUILD APPS DROPPED Maturing Of App Development Scaling of Public Cloud Social Customer Acquisition Dawn of APIs
- 25. xignite@sdubois xignite@sdubois FINTECH NOT SLOWING DOWN $0B $2B $4B $6B $8B $10B $12B $14B $16B $18B $20B 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Fintech Fundings 2015 vs 2016 Week by Week 2016 2015 Week in Year Sources: Finovate
- 26. xignite@sdubois ANDY RACHLEFF CHAIRMAN & FOUNDER “WEALTHFRONT WAS ENABLED BY 3 TECHNOLOGIES: ETFs, TRADING APIs, AND MARKET DATA APIS.” xignite@sdubois
- 27. xignite@sdubois xignite@sdubois APIS POWERING INNOVATION Robo-Advisors & Robo-Platforms Brokerage & Trading Media Retirement Investor Reporting, IR & HR Lending & Payments Wealth & Portfolio Management Compliance Horizontal Enterprise Applications Terminals IoTE-Commerce Enterprise Financial Reporting Research & Analytics Social & Analytics Search Engines Back-Office & Processing
- 28. xignite@sdubois TECTONIC SHIFT APP DEVELOPMENT INFRASTRUCTURE CUSTOMER ACQUISITION CORE SERVICES Faster Cheaper
- 29. xignite@sdubois FINSERV BIG SQUEEZE Fintech User Experience Pressures Business Model Pressures Cost Structure Pressures Regulator Balance Sheet Pressures Business Model Pressures Operational Cost Pressures Since 2013 Since 2008INNOVATION REGULATION FinServ INNOVATE TRANSFORM REDUCE COSTS COMPETE COMPLY
- 30. xignite@sdubois xignite@sdubois THE GREAT WEDGE Super HNW HNW Retail Robo Advisors
- 31. xignite@sdubois AWARENESS AT THE TOP xignite@sdubois "Silicon Valley is coming.“ Jamie Dimon Chairman & CEO – JPMorgan Chase Letter to Shareholders - 2015
- 32. xignite@sdubois THE MARKET DATA CHALLENGE Market data is one of the largest expenses for many firms. Previously neglected or hidden is the cost of market data infrastructure. Legacy market data infrastructure stifles innovation, prevents transformation and drives up costs. xignite MARKET DATA @sdubois
- 33. xignite@sdubois ColocationColocation TYPICAL LANDSCAPE Lots of legacy in-house infrastructure Vendor lock-in and point to point interfaces Significant compliance risks and costs Many data silos across vendor technologies Reliability and maintenance issues Redundant or unnecessary expenses Rigid, expensive and innovation killer New app development nearly impossible Unable to disconnect legacy systems Costs continue to increase with scale EXCHANGES VENDORS Databases Handlers Databases Analytics Engines Databases Tick Databases App Servers Cache Servers Fanout Servers Messaging Servers Processing Engines Search Engines Trading & Algos Handlers Feeds FilesFeeds Proprietary Processing Engines Vendor Proprietary Servers Redundancy Compliance Silos Personnel Upgrades Lock-in Point to Point Legacy Front-Office Mobile & Web
- 34. xignite@sdubois MARKET DATA INFRASTRUCTURE Infrastructure $76M Market Data $100M MARKET DATA SPEND $33M $21M $14M $8M Hardware Software Networking Personnel INFRASTRUCTURE SPENDING Typical Top Tier Firm Source: Rosenblatt Securities
- 35. xignite@sdubois INDUSTRY-LEVEL ISSUE Much replicated data and infrastructure • Same feeds from same exchanges • Same files from same vendors • Same databases to store and manage the same data. • Massive replicated data centers, storage an processing • Same hardware and system administration burden • Same staff to monitor and administer No significant competitive benefit • 95% of infrastructure is commoditized • Billions of dollars wasted on replication • Enormous innovation inertia
- 36. xignite@sdubois xignite@sdubois INDUSTRY-LEVEL ISSUE xignite@sdubois www.xignite.com – San Mateo, California – Copyright © 2016. All Rights Reserved
- 37. xignite@sdubois THE CASE FOR MUTUALIZATION DATA SHOULD BE STORED ONLY ONCE RULE OF NORMALIZATION:
- 38. xignite@sdubois WHERE TO PUT THE DATA? Source: Gartner Group
- 39. xignite@sdubois Ex-Market Data Professional Circa, 2008 “APIs ARE TOYS!“ xignite@sdubois
- 41. xignite@sdubois WHY APIS MATTER Reducing the Cost Structure • Build a new tech stack from scratch • Leverage the public Cloud • Leverage third-parties Improving the Experience • Improve User interface & workflow • Reduce friction and automate • Increase access to information
- 42. xignite@sdubois NEW THINKING Trading & Algos Front-Office Mobile & Web ColocationColocation Databases Handlers Databases Analytics Engines Databases Tick Databases App Servers Cache Servers Fanout Servers Messaging Servers Processing Engines Search Engines Trading & Algos Handlers Feeds FilesFeeds Proprietary Processing Engines Vendor Proprietary Servers Redundancy Compliance Silos Personnel Upgrades Lock-in Point to Point Legacy 42 EXCHANGES VENDORS Cloud?
- 43. xignite@sdubois ADOPTION ROADMAP First Use Case • Customer Facing/Backup • Mobile/Web • Critical Innovation • Critical Time to Market • No New Infrastructure • Get Comfortable • Align with API Strategy Adopt Broadly • Deploy for all new apps • Reduce dependency on legacy • Eliminate fringe infrastructure • Replace some data sources Remove Legacy • Onboard data sets • Add contributed data sets • Migrate legacy back ends • Eliminate core infrastructure 6-18 Months 1-3 Years 2-5 Years 43
- 44. xignite@sdubois THE NEXT GENERATION APPS 1990 1995 2000 2005 2020 2025 Client-Server Generation Web Generation Mainstream Applications The Next Big Thing Fintech Mainstream Generational Replacement FinTech Early Adopter Wave 2010 Cloud Generation 2015 Internet – HTML – Browser – Active Server Pages – Broadband – AJAX RDBMS – LANs – PCs – Mini Computers Virtualization – SOAP – XML – JSON – REST – HTML5 Fat Client DB Server HTML Web Server HTML5 Cloud APIs www.xignite.com – San Mateo, California – Copyright © 2016. All Rights Reserved
- 45. xignite@sdubois xignite@sdubois THE FINSERV API VALUE CHAIN Customers Employees Apps Developers APIs Market Data Markets Back-Ends
- 46. xignite@sdubois EXAMPLE 1: REAL-TIME DATA TO MOBILE USERS ColocationColocation Handlers Parsing Engines Handlers Feeds EXCHANGES Databases Tick Databases Fanout Servers PROBLEMS Tons of infrastructure Peak activity scaling Software licensing Custom processing Complex programming 6-12 months minimum Scaling lead time Monitoring required Large capex and opex TRADITIONAL APPROACH: IN HOUSE Silos Redundancy Legacy Monitoring www.xignite.com – San Mateo, California – Copyright © 2016. All Rights Reserved
- 47. xignite@sdubois SOLUTION: CLOUDSTREAMING API ColocationColocation Handlers Parsing Engines Handlers Feeds EXCHANGES Databases Tick Databases Fanout Servers CLOUD APIS CloudStreaming API EXCHANGES Deploy instantly High reliability Scalable to millions No capex No worries TRADITIONAL APPROACH: IN HOUSE CLOUD APPROACH Redundancy Legacy Monitoring Silos www.xignite.com – San Mateo, California – Copyright © 2016. All Rights Reserved
- 48. xignite@sdubois EXAMPLE 2: ENGAGING CUSTOMERS WITH ALERTS TRADITIONAL APPROACH: IN HOUSE ColocationColocation Databases Handlers Databases Analytics Engines App Servers Messaging Servers Processing Engines Handlers Feeds FilesFeeds Proprietary Processing Engines Vendor Proprietary Servers Redundancy Compliance Silos Personnel Upgrades Lock-in Point to Point Legacy EXCHANGES VENDORS PROBLEMS Tons of infrastructure Huge amounts of data Significant integration Custom processing Complex programming 6-12 months minimum Scaling lead time Monitoring required Large capex and opex www.xignite.com – San Mateo, California – Copyright © 2016. All Rights Reserved
- 49. xignite@sdubois SOLUTION: CLOUDALERT API CLOUD APIS CloudAlert API Internal Systems Short time to market Scalable to millions No data management No capex No worries CLOUD APPROACHTRADITIONAL APPROACH: IN HOUSE ColocationColocation Databases Handlers Databases Analytics Engines App Servers Messaging Servers Processing Engines Handlers Feeds FilesFeeds Proprietary Processing Engines Vendor Proprietary Servers Redundancy Compliance Silos Personnel Upgrades Lock-in Point to Point Legacy EXCHANGES VENDORS www.xignite.com – San Mateo, California – Copyright © 2016. All Rights Reserved
- 50. xignite@sdubois TRANSACTIONAL APIs BUSINESS APIs THE NEXT-GENERATION APPS INFRASTRUCTURE APIs MARKET DATA APIs ANALYTICS APIs WORKFLOW APIs THE FINTECH API ECOSYSTEM www.xignite.com – San Mateo, California – Copyright © 2016. All Rights Reserved xignite
- 51. xignite@sdubois xignite@sdubois MARKET DATA CLOUD INFRASTRUCTURE APIS Storage, Processing & More DATA APIS Market Data – Reference Data – Contributed Data ADVANCED APIS Streaming – Alerts – Visualization – Analytics – Screening xignite xignite www.xignite.com – San Mateo, California – Copyright © 2016. All Rights Reserved
- 52. xignite@sdubois xignite@sdubois XIGNITE GLOBAL MARKET DATA CLOUD Equities Funds Fixed Income Indices Futures Options Forex Metals Derivatives Real-Time Quotes Valuation Fundamentals Master Ticks & Bars Analytics Markets www.xignite.com – San Mateo, California – Copyright © 2016. All Rights Reserved
- 53. xignite@sdubois xignite@sdubois THE INDUSTRY’S EASIEST APIS Standard Based Comprehensive Consistent Integrated Scalable Real-Time Data Master Data Fundamental Data
- 54. xignite@sdubois THANK YOU xignite@sdubois Stephane Dubois – CEO & Founder – Xignite – sdubois@xignite.com – @sdubois
Editor's Notes
- Hello Everyone My name is Stephane Dubois. I am the CEO and founder of Xignite. I am excited to be talking about fintech and APIs today. I’d like to thank API world for giving me the opportunity to share this with you. The name of this session is APIs are powering Fintech Innovation. What is next? So this is not a technical session, it’s more of a strategy and a business one, looking at a specific vertical: financial services. We are going to talk about APIs in fintech. Specifically about APIs and market data. First I am going to discuss the world of financial market data APIs. Then I will talk about what happened with the fintech revolution and what role market data APIs played. Then I will talk about what is happening in financial services and I will wrap up with talking about what is next. As you know there is this fintech revolution going on. And it seems that it will have a significant impact on the financial services industry. What I’d like to do is first look at the role API played in this revolution….
- This is an API conference so it should be no surprise we deal with API. What we do is one type of API: financial market data API. We bring data from the financial markets, and deliver it to applications that consume this data. Our APIs are pure-play commercial APIs. We are one of the few pure-play API providers out there where our product is actually the API itself. People pay to use them. They pay for the data and they pay for the convenience of using an API.
- Some of you may not be familiar with Market Data. Without market data, there is no finance. There is no financing. There are no markets. There are no investments. There are no startups. Financial services is probably the industry that is the most dependent on external information. So market data is the lifeblood of finance.
- This industry was not born yesterday. The concept of market data started when Paul Julius Reuter, who founded the news agency that bore his name started to use carrier pigeons between Berlin and Paris. Those pigeons were speedier than the train, and gave Reuter faster access to financial news from the Paris stock exchange. One might have said he was gaming the market. It’s a large market by all standards: $26.6B in revenue. But it’s stagnating. Even after the post crisis recovery, the industry is not recovering.
- The reason is that the way people have been getting most of their data is via terminals like this one. This is the latest and slickest version of the Bloomberg Professional. This baby has a crapload of data and cool functionality and having one on your desk is the same status has having a Maserati in your garage. On the downside, it’s not easy to use and it will set you back a cool $24,000—which is about ½ the median salary in America.
- Terminals are amazing products, but this year, Bloomberg will be lucky if they sell more terminals than they lose. The reason is that places like this that consume a lot of terminals are becoming a thing of the past.
- The problem is that following the mortgage crisis, the financial service industry has experienced its biggest slump in employment in history. We still have not recovered from the high of 2006. And it’s been 10 years. There are less and less people using terminals. And this is unlikely to change. And even as the industry re-hires, they are not re-hiring people that use terminals.
- Because in these 10 years, the world has changed dramatically. It started with the iPhone of course. And the Ipad. And the Apple Watch. Devices are proliferating. We have cars connected all the time. IoT devices. Now you can check the value of your portfolio in the morning as you open your fridge to grab eggs and bacon to fix breakfast. So if you look back at the industry, you can see that every wave of technology allowed financial information to reach more and more end points. An order of magnitude more. The industry started with pigeons in the 1800’s that would only help serve a few hundred individuals. It then went to ticker tape with Edison at the beginning of the last century, a technology that reached a few thousand brokers downtown New York. Then mainframes in the 1970 brought enough firepower to target 10,000s of traders around the world. Client-server technologies in the 80’s made it possible for Bloomberg and others to target 100,000 of thousands of users. And finally it was the web that allowed millions of individuals to get easy access to financial data. Yahoo Finance for instance, the granddaddy of all web sites has around 50M monthly visitors. And now we are talking billions. Billions of devices of all kinds. And many many of those consume financial data. Planes trains and automobiles do. Tablets, phones and computers do. Maybe your nest device won’t but your Samsung fridge or TV does.
- Gartner says that there will be 21 Billion connected devices. And I estimate that a majority of those devices will consume financial data.
- Then the question is how do you serve data to those 21 B devices? The only answer o course is Cloud APIs.
- What we have now, is the concept of Cloud APIs. They are not just an API. Like Amazon (the underlying infrastructure), they are designed to be a utility: Simple, Standard Based, and with unlimited power. Cloud APIs are not toys, they are not novelties, they are not nice-to-haves. They are APIs you can run your business on. They are APIs you cannot afford not to run your business on.
- The history of APIs of course was laid out by the invention of new technologies and standards such as HTML, XML, SOAP, JSON and others as you can see on the bottom of this timeline. The first concept of pointing to resources on an external server can actually be attributed to Marc Andreessen and Mosaic (back in 1993—before it was Netscape), with the invention of the IMG tag. Unlike a simple hyperlink, the IMG tag was pointing to and integrating a resource sitting on external servers. Then Microsoft and FutureWave extended the concept with the invention of Flash and the IFRAME tag. Microsoft again laid the framework for what an API would be by implementing the XMLHttpRequest API in JavaScript. Great work done by Seattle again here. The first commercial API can probably traced be back to SalesForce which launched theirs in February 2000, followed by eBay and Amazon. We actually launched our first commercial financial data API in 2003, way before Flickr, Google, Facebook or Twitter. All I can tell you, is that we were way way way before our time. The world would never be the same after Amazon launched S3 in March 2006. Two years later Apple launched the App Store and the next generation of API-based mobile applications—changing forever our expectations regarding software and user experience, but also sealing the destiny of service oriented architectures. We launched our first AWS-based API–a cloud API—in October 2008—just a couple month after that. And you can see, that as it relates to this timeline, the Fintech Wave—which started in November 2013 (according to Google Trend) is quite recent evolution. http://apievangelist.com/2012/12/20/history-of-apis/ http://pamelafox-samplecode.googlecode.com/svn/trunk/tokyotalk/slideshow.html#slide37
- Just for kicks lets look at Roy Fielding’s REST dissertation from 2000.
- And for more kicks. Let’s look at the infamous Jeff Bezos memo.
- For the story, we indeed did launch our first commercial API more than 12 years ago. Way before it’s time I said. But as you can see, persistence and survival can pay, as this little API, that has evolved but not changed dramatically since it’s inception, is one of the most popular APIs in the world today.
- Today we have more than 1000 customers in 56 countries. We have raised more the $37M including our $20M round last month. We are one of the largest API providers out there and certainly the biggest fintech API provider I know of. We have more the 650 API end points serving data from more than 150 data sources and covering more than 35 million instruments. And all of those with a meager 35 employees based in San Mateo, CA.
- The causes are a combination of economical factors, social factors, and technological factors.
- The impact is that by combining the benefits of those technologies, new companies—or large ones who step up to them—can achieve 100 times the velocity in 100 times less cost. The combination of all those factors caused the #fintechrevolution.
- The problem we solve is that consuming and integrating market data with applications today involve massive amounts of legacy technology and heavy infrastructure. These hidden technologies prevent change, stifle innovation and drive up costs inside firms.
- And this is not just a firm problem. This is an industry level problem. 95% of the data a bank consumes is the same as other banks. Everyone gets the same feeds from the same exchanges, the same files from the same vendors. Everyone builds and replicates the same commoditized infrastructure. This costs the industry billions of dollars and prevents it from innovating. It’s like a frozen field of icebergs.
- This means that the next generation software, is going to be based on Cloud APIs. And just like what we have done before, we will rewrite most of our applications to take advantage of that new technology stack. We did it from the Mainframe to Client Server We did it from Client Server to the Web And we are doing to do it from the Web to the Cloud. And our kids will do it for the next big thing that comes around.
- A great one is the problem of delivering real-time data to mobile users. This has historically always been done in house. Firms don’t even think “can I outsource this?”. Fanning out real time data, like stock quotes, to tens or hundreds of thousands of users is a bitch—pardon my French. You need tons of infrastructure, you need to scale for peak activity—total waste. It’s hard to find programmers to code it. Hard to maintain and operate. Firms figure it out but it costs them a fortune to build.
- How do you do it with CloudAPIs? Simple. A few lines of code in your mobile or web app using our new CloudStreaming APIs and your are done. You can rollout to hundreds of thousands of users in no time at all. If you have more users, no problem, our friend Scott is gonna let us crank up the volume and serve your needs at a fraction of the cost. It’s perfect for new apps but you can even replace existing technology with it.
- Let’s take another example: Engaging users with alerts about market conditions and investments. Great way to get people to trade and talk to your advisors. In financial services, if customers are not engaged, they are not making you money. How do people do it today? Same way. In house! Same problems. Tons of infrastructure and blah blah blah.
- What’s the alternative: CloudAlerts Same thing here. A few lines of code in your app lets your user define rules for what they want to be notified about. Then we do all the heavy lifting in the cloud of crossing those rules with everything that is happening in the market And when an event occurs, we call you back—via an API of course—so that you can in turn notify you users. You can deploy this in no time at all for many different types of market alerts and hundreds of thousands or even millions of users.
- And we are going to do it by taking advantage of a whole ecosystem stack of APIs starting from the infrastructure, the data like ours, to the Analytics such as those of our partners Estimize, to the transactional API of a Tradier, and the workflow APIs of an Advisor Software. And of top of that, the business APIs created by the banks themselves.
- These are hopefully some great examples of where a firm can start deploying the market data cloud. The way you want to think about the market data cloud is a specialized technology layer on top of the infrastructure APIs provided by Amazon. Market Data Cloud APIs provide easy, scalable and cost-effective access to the financial market data you need to run your business. This includes market data, reference data, but also data like contributed data or data you get from other vendors. So just like you are starting to move some of your operations to Amazon, you can start moving your market data infrastructure there. And as you move more and more of your infrastructure to the cloud, the cloud will provide you with more and more capabilities there like those we showed. And you are not the only firm benefiting from this, the whole industry benefits from the mutualization of market data.
- Just to wrap up, let me just remind you what the scope of the Xignite Global Market Data Cloud is. We curate and integrate data from more than 150 sources including exchanges, public sources, and data vendors—with whom we partner. We have more than 50 API products available via unlimited subscriptions covering every asset class such as Equities, Funds and Fixed Income and every data type such as real-time quotes, fundamental data or valuation data.
- We have the easiest, largest and most popular suite of Market Data APIs in the world. And if you are ready to move to the cloud, our APIs are ready for you. So now let’s go ahead and start the Q&A section.
- Hello Everyone My name is Stephane Dubois. I am the CEO and founder of Xignite. I am excited to be talking about fintech and APIs today. I’d like to thank API world for giving me the opportunity to share this with you. The name of this session is APIs are powering Fintech Innovation. What is next? So this is not a technical session, it’s more of a strategy and a business one, looking at a specific vertical: financial services. As you know there is this fintech revolution going on. And it seems that it will have a significant impact on the financial services industry. What I’d like to do is first look at the role API played in this revolution….