Xignite Reveals Results of Collaboration on Launch of SoFi Invest Trading Platform

Xignite Reveals Results of Collaboration on Launch of SoFi Invest Trading Platform
19.08.2020 02:21 pm

Xignite Reveals Results of Collaboration on Launch of SoFi Invest Trading Platform

Online Trading , Data

Xignite, a provider of market data distribution and management solutions for financial services and technology companies, today revealed the results of a collaboration with leading digital personal finance company SoFi on the launch of the SoFi Invest trading platform. Click HERE to download the case study containing the full results.

A longtime leader in the student loan refinancing space, SoFi wanted to help 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.

The result was a new line of business that continues to see substantial growth. In addition, by leveraging Xignite’s alerts capabilities (for which Xignite received a patent earlier this year), SoFi can more effectively activate its client base; when an alert is sent, client engagement increases by 25% within a day and 10% of users make a trade within the hour.

A key aspect of the collaboration was Xignite’s battle-tested 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 digestible formats. In addition to market data, Xignite’s Global News API enables SoFi to feature the latest financial headlines across its platform to boost engagement and inform its client base.

“Xignite data is comprehensive and easy to use,” said Sam Nofzinger, Trading and Investment Manager at SoFi. “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.”

“We are proud to have so many fintechs on our client roster, and SoFi is one of our biggest success stories,” said Stephane Dubois, CEO and Founder of Xignite. “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.”

Related News

Digital Asset Trading Platform HUAX Reaches More Than 1 Million Registered Users Across 200 Countries and Regions

HUA Exchange "HUAX" has registered over 1 million users, across 200 countries and regions. HUAX (... Read more »

Mexican Neobank Flink Selects DriveWealth to Open Access to U.S. Equity Markets

Mexico-based neobank Flink today announced a partnership with DriveWealth, LLC, a U.S.-based leader in... Read more »

SGX Partners with Cassini Systems to Help Market Participants Prepare for Uncleared Margin Rules (UMR)

Singapore Exchange (SGX), the world's largest and fastest-growing Asian foreign exchange (FX)... Read more »

The Bank of East Asia Starts Using the New Hosted and Managed Horizon Platform for Market-Making Warrants

Horizon Software, the world’s leading SaaS provider of electronic trading solutions and algorithmic technology, announced that The Bank of East Asia,... Read more »

Cloud9 and comitFS team up to enhance real-time voice trading APIs and compliance applications

Cloud9 Technologies ("Cloud9"), a leader in cloud-based communications, has partnered with comitFS, a UK-based provider of voice middleware... Read more »

Bitfinex launches Pulse on mobile

Bitfinex, a state-of-the-art digital asset trading platform, has launched Bitfinex Pulse on mobile, enabling the exchange’s growing user base to obtain market-... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel