Intrinio, based in St. Petersburg, FL, launched the Intrinio Fintech Marketplace this week with the goal of making financial data more affordable and easier to use for developers.
Intrinio's mission is to help investors save money and make time by making financial data affordable and easy to access, and their new platform is positioned to do just that. CEO Rachel Carpenter believes this platform will lead to the development of a new generation of financial tools:
"Developers looking to build FinTech applications face two major hurdles," says Carpenter. "First, traditional data providers are used to selling to massive institutions that have no other choices about where to buy their data- this leads to prices that keep most developers out of the market. Second, developers need financial data that is easy to use, data they can easily integrate into their apps. The Intrinio Fintech Marketplace clears both of these hurdles."
Developers who visit the company's website, www.intrinio.com, can choose from a variety of data feeds including real time stock prices, FDIC bank data, and fundamental 10Q/10K statements for use in their applications. The data feeds can be accessed in API format and are priced to be disruptively affordable with minimal restrictions and self-service signup. Investors can browse the applications developers have built and sign up for data plans to power those applications.
"Intrinio has been successful at using machine learning and rules based algorithms to automate the data collection and cleansing process," said Joey French, President of Intrinio. "Now we are creating a platform where other data providers can give options to Intrinio's community of developers. Data providers who share our belief - that efficient data needs developers to be valuable - can get their data in front of developers, and developers can select the data feeds they need to make their applications purr."
Intrinio has a backlog of data providers looking to add their data feeds to the marketplace, and exponential user growth is driving an explosion of financial analysis applications built on the platform. Key features of the new marketplace include instant chat support for all users, industry leading flexibility for redistribution, and multiple data feeds and applications available for free use. Developers building qualifying applications can take advantage of the Intrinio Developer Program, which includes 6 months of free access.
"Coming into work each day is a blast because every week we are seeing new developers building cutting edge applications," said Conor Farley, Director of Business Development. "I talk to customers combining financial data with cutting edge technology like the blockchain and machine learning, and watching our platform bring those tools to market in days rather than years is a thrill."