Xignite reveals collaboration results on the launch SoFi Invest Trading platform

By Pavithra R

Xignite, leading the disruption of the market data industry with its’ API and data management solutions for FinTech and financial services firms has revealed the results of a partnership with leading digital personal finance company SoFi on the launch of the SoFi Invest trading platform.

SoFi, being a long time leader in the student loan refinancing space was looking forward to helping its highly educated client base in the next phase of their personal finance journeys by offering a trading platform. The firm partnered with Xignite for its ability to deliver flexible, endlessly scalable and institutional-strength data solutions at an affordable rate, and was able to launch SoFi Invest in 2017. SoFi, by leveraging Xignite’s alerts capabilities, could effectively activate its client base.

“Xignite data is comprehensive and easy to use. We don’t need to contract with multiple providers to get the data we need, nor do we have to process the data in order to use it. Their APIs enable a streamlined process that allows our staff to focus on what they do best: building innovative features for our clients,” said Sam Nofzinger, Trading and Investment Manager at SoFi.

A key aspect of the partnership was Xignite’s cloud APIs that have enabled SoFi to make fine-tuned investment recommendations through its roboadvisor, and curate lists of stocks based on key characteristics in easily understandable formats. Besides using market data, SoFi through Xignite’s Global News API featured the latest financial headlines across its platform to boost engagement and inform its client base.

“We are proud to have so many fintechs on our client roster, and SoFi is one of our biggest success stories. This case study demonstrates how the right data solution can enable not just a robust trading platform and powerful roboadvisor, but also a host of other features to drive engagement, education and a better user experience overall. We look forward to continuing our work with SoFi as they serve their clients during this time of disruption,” said Stephane Dubois, CEO and Founder of Xignite.

Founded in 2011, SoFi is a values-driven company that helps people achieve financial independence to realize their ambitions. The FinTech creates modern financial products and services that help people borrow, save, spend, invest, and protect their money better. Recently the company announced the go-live of Samsung Money by SoFi in the United States.