BridgeFT, a cloud-native, API-first wealth infrastructure software company that enables financial institutions, fintech innovators, and registered investment advisors to deliver better, data-driven outcomes for their clients announced a major strategic partnership with Intrinio, a full-service financial data provider, that will allow clients to access both custodial and market data through a single API.
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Intrinio is the latest partner to join BridgeFT’s WealthTech API Marketplace, which offers clients access to the company’s curated group of technology providers that are reshaping wealth technology with an API-first approach to delivering application services that are pre-integrated with BridgeFT’s WealthTech API infrastructure.
“Through this partnership, we are providing more options to our financial and fintech clients via our first-of-its-kind WealthTech API Marketplace,” said BridgeFT Chief Executive Officer Joe Stensland. “Intrinio is a highly innovative firm delivering mission-critical market data through an API-first platform. We’re super excited about this partnership between two firms with very similar strategies to enable the technology infrastructure that is powering the next generation of wealthtech application development.”
BridgeFT’s WealthTech API is the industry’s first WealthTech-as-a-Service platform, offering a single, open API to trade-ready, multi-custodial data, analytics, and applications. Intrinio’s API provides real-time, delayed and end-of-day equities and options pricing data, fundamental and SEC data, ETF holdings and analytics, and ESG metrics.
“The WealthTech API Marketplace is poised to revolutionize the entire financial industry. Together, we’re making it simple and straightforward to harness a full suite of data, which serves as the foundation of every transaction,” said Rachel Carpenter, Co-Founder and Chief Executive Officer of Intrinio. “We are proud to join with BridgeFT to further build out the applications available through the WealthTech API Marketplace, and we look forward to helping to usher in a new and better way to manage financial information.”
The BridgeFT-Intrinio partnership solves one of the biggest hurdles for emerging fintech innovators and investment management platforms: sourcing a range of data necessary to power their solutions without the time and expense involved in development.
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Custodians hold a variety of data that drives the investment ecosystem, from positions and balances to client holdings and trades. Each individual custodian has its own data policy, structure, and systems. Likewise, market data is controlled and licensed by exchanges and markets and distributed through large providers that often require costly contracts. The archaic infrastructure of custodial data and oligopoly of market data forces fintech companies and other financial institutions to build custom data connections for each custodian and each market data vendor and manage complex exchange licenses to access essential market data.
Through this partnership, fintech firms and wealth managers can now access all the historical, real-time, or analytical data they need to manage clients’ wealth with drastically shorter development time and at significantly reduced cost.
Intrinio is the second company to join BridgeFT’s growing WealthTech API Marketplace, following Yayati, a quantitative investment technology company offering wealth personalization infrastructure for enterprises to build scalable advisor workflows and client investment experiences.
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