Xignite has joined seven other data providers in providing free data to Boston based non- profit Sandbox that helps FinTech startups around the world build products and applications.
Xignite which is a leading provider of cloud- based financial market data will provide market data at no cost to non- profit Sandbox. One of the greatest challenges for those looking to start a fintech business is the high cost or inaccessibility of financial data. By providing streamlined access to this information from a variety of sources, including global exchanges, financial analytics, proprietary news, third party content and historical earnings estimates, FinTech Sandbox equips emerging entrepreneurs with the critical resources needed to develop and test their applications quickly and with the highest level of quality.
Sandbox has made available free compute infrastructure and platform service (PaaS) offerings from infrastructure partners. Currently, they offer up to $15,000 in credits per startup to Amazon Web Services plus Business-level AWS Support up to $5,000 per startup.
Xignite CEO, Stephane Dubois commented on this- “Our work with Boston’s FinTech Sandbox highlights our established and ongoing commitment to promote the success of startups in financial service technology whose lack of funding makes it difficult to act on the innovative ideas that our industry needs.” She added- “Market data is the lifeblood of fintech, and without full access to these data points in the early stages of development and testing, many emerging players would not be able to reach their full potential,” as reported by Finextra.
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“For data providers, the FinTech Sandbox is an opportunity to work directly with key startups, thereby initiating a critical relationship between data partners and their users,” said Jean Donnelly, Executive Director, FinTech Sandbox. “These seven partners are nurturing a pipeline of future customers, while also helping to shape the industry by contributing to the successful development of leading fintech solutions.”
Soon to be launched(26th March) Sandbox has already partnered with Thomson Reuters, SIX Financial Information, FactSet, Benzinga, Tradier and Plaid who have agreed to provide Sandbox startup participants with free access to market data for six months.