Billions of answered daily API calls & the Fintech API economy

It was 2015 when I joined Bernard Lunn on Daily Fintech and profiling Xignite was amongst my first blogs. I had just met Stephane Dubois CEO and Founder in Zurich as part of his European tour at the Zurich Fintech gathering on “APIs-essential infrastructure tool”.

Xignite — a wind intensifying the Fintech fireworks

Xignite was helping the robo-investing Fintech vertical grow. Fast forward to today and there is no doubt that Xignite has grown. In the first half of 2020, they reported

In April 2020 alone, Xignite saw over 365 billion API hits, or more than 12 billion a day, setting a record for the firm. Source

As SoFi is going public through the IPOE SPAC, there is ample information shared publicly around the ways Xignite has powered up SoFi innovations. Specifically, Xignite boasts their Sofi Investment collaboration through which Sofi offers a service called `Collections` which are lists of stocks with specific characteristics (e.g. dividend growth or top picks). Xignite allows for real-time, dynamic adjusting of these collections and of course, customization via additional criteria.

The API infrastructure for Finance and more importantly for Embedded Finance, has grown substantially and too fast, to the point that I personally have…