15 December 2017
visit www.solutions.lexisnexis.com

FinTech Sandbox lets startups play with data for free

02 March 2015  |  12337 views  |  1 Numbers

A new non-profit programme offering fintech startups free access to data feeds and APIs from providers such as Thomson Reuters and Xignite is gearing up for launch later this month.

The Boston-based FinTech Sandbox aims to solve one of the biggest problems facing young financial technology firms: the cost and difficulty of accessing data to test-drive their applications.

Its six month programme will give participants access to data and APIs from a range of providers, including SIX Financial Information and Tradier, as well as data processing and storage services from Amazon Web Services.

Although applicants are being encouraged from around the world, the programme does also have physical spaces for some firms in Boston. Jean Donnelly, the programme's executive director says that the plan is to have around 20 startups participating at any one time, with 10 spaces available at the physical location at Cambridge Innovation Center.

The programme officially launches on 26 March, but three firms have been testing in private beta since January. One, an outfit called Elsen that aims to help FS firms run more complex simulations on more data faster and at lower costs, is using global securities datasets from FactSet.

FinTech Sandbox also aims to build a community that lets entrepreneurs make connections and learn from each other. As a non-profit, the programme is not asking for cash or equity from participants. Instead, board member David Jegen says, firms are asked to give back to the community by making a "moral commitment" to contribute to a Q&A site that he hopes will develop into a "fintech version of Stack Overflow".

And Jegan says that while the initial focus is on providing access to capital markets data, the sandbox's scope could be increased to cover areas such as insurance data, credit analysis data and mutual fund holding data.
KeywordsDEVELOPER

Comments: (1)

Silvan Schumacher
Silvan Schumacher - Swanest: Intelligent Investing Made Simple - Brussels | 03 March, 2015, 14:25

Fantastic, hope they will offer data to European applicants as well! :)

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Level39 and Nest open startup trade route between London and Hong Kong

Level39 and Nest open startup trade route between London and Hong Kong

28 January 2015  |  6153 views  |  0 comments | 10 tweets
Barclays invites pitches for fintech accelerator programme

Barclays invites pitches for fintech accelerator programme

04 November 2014  |  7804 views  |  0 comments | 8 tweets | 7 linkedin
Accenture brings Fintech Innovation Lab to Dublin

Accenture brings Fintech Innovation Lab to Dublin

09 October 2014  |  12242 views  |  0 comments | 15 tweets | 12 linkedin
Fintech startups invited to play in data sandbox

Fintech startups invited to play in data sandbox

28 May 2014  |  9525 views  |  0 comments | 17 tweets | 5 linkedin
Yodlee sets up incubator and open API for digital finance start-ups

Yodlee sets up incubator and open API for digital finance start-ups

02 May 2012  |  7949 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.thomsonreuters.infovisit www.niceactimize.comvisit www.atos.net

Top topics

Most viewed Most shared
satelliteRipple completes XRP Lockup
9950 views comments | 3 tweets | 2 linkedin
PSD2: Laying the regulatory foundation for a new age in paymentsPSD2: Laying the regulatory foundation for...
9379 views comments | 17 tweets | 36 linkedin
Brits flock to digital-only banksBrits flock to digital-only banks
7414 views 11 comments | 11 tweets | 15 linkedin
Banks and fintech startups join forces on blockchain-based supply chain pilotBanks and fintech startups join forces on...
6784 views comments | 19 tweets | 20 linkedin
hands typing furiouslyReshaping Customer Engagement & Da...
6227 views 0 | 4 tweets | 2 linkedin

Featured job

Competitive
Germany, Austria or Switzerland

Find your next job