Today we are joined by the cloud financial technology platform Xinfinit.
Our questions are in bold.
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Who are you and what’s your background?
Xinfinit was founded in 2013 by Matthias Wiederwach who heads product development and chief executive Richard Karneim. Both were previously executives at Financial.com, a developer of web-based terminal solutions that Wiederwach founded in 1999 and which performed custom development for clients including Thomson Reuters.
What is your job title and what are your general responsibilities?
Co-Founder and Product Development Chief Architect.
Can you give us an overview of your business?
With Xinfinit it is “all about the data” that features entitlement, real-time monitoring and filtering tools to control the data usage for all types of user devices. Any data source can be integrated including existing data management tools (e.g., OpenDACS, EMRS & MECS) via a single API. End clients can benefit from a scalable and resilient cloud based container supporting data layers with unique symbol mapping between the same instruments supplied by different data vendors. A fully-fledged Admin Center controls the entitlement across all sub-hierarchy and with a built-in Widget Builder API it provides the flexibility for distributed development to build vendor agnostic data display and analysis tools across global teams. Essentially, what it all boils down to is enabling financial institutions to seamlessly audit, manage and control data expenditure globally across web based applications.
Tell us how you are funded.
VC and private investor backed.
Why did you start the company? To solve what problems?
Global financial institutions across all banking tiers are aware that they need to regain control of the consumption and management of their market data usage in order to manage and reduce inflated market data costs that impact their bottom line. However, they need a solution that can be used to build vendor agnostic applications while helping to unravel the complexities of data consumption and entitlement and without impacting the core banking functions that have typically been left to operate as independent silos within the same organisation. A solution is the Xinfinit open development container for web based financial information dissemination that integrates the needs of any financial ecosystem and business community.
Who are your target customers? What’s your revenue model?
Large financial institutions, small to mid retail banks, brokerages, wealth management, investor community.
If you had a magic wand, what one thing would you change in the banking and/or FinTech sector?
Xinfinit’s Data API’s provide the means to incorporate data feed handlers such as a banks proprietary contribution data as well as the option to use the Xinfinit data feed handlers for leading market data vendor feeds. All content within the container (coming from any data source) is continually audited to the point where the data consumption is monitored and logged right down to each “tick” on the user screen. Where higher performance, throughput and concurrency is required then Xinfinit’s partner the BCC Group, can provide their hardware accelerated Financial Market Data Platform (FMDP). This uses Solace middleware for message streaming that leverages optimized purpose built hardware in order to provide higher throughput and lower latency than software alternatives.
What is your message for the larger players in the Finance industry?
In essence, the Xinfinit container serves as a cloud based open development container for web based financial information dissemination that integrates the needs of any financial ecosystem and business community. Whether that would be for an HTML5 Browser App, Widget creation or for an entire financial portal development the Xinfinit container architecture can support them all.
What phone are you carrying and why?
Apple iPhone6S simply because I am an avid fan of Apple products.
Where do you get your industry news from?
Waters Technology publication, LinkedIn posts.
What’s the best FinTech product or service you’ve seen recently?
OpenFin offer a service which recently caught my attention. Any widgets created using the Xinfinit Widget Builder are available for inclusion in the OpenFin AppStore. Significantly the data provided by the underlying Xinfinit container is readily accessible via the Xinfinit Widgets shared within the OpenFin Desktop HTML5 App. This provides a method for OpenFin Apps to leverage the Xinfinit container and add Data Feeds accessed via Data APIs in the Xinfinit cloud platform. By simply taking an Xinfinit Widget that consumes the data and publishing it in the OpenFin AppStore, the data can then be accessed and shared by other OpenFin desktop Apps.
Finally, let’s talk predictions. What trends do you think are going to define the next few years in the FinTech sector?
The flexibility provided by the Xinfinit Widget Builder in order to create custom HTML5 widgets or adapt existing ones for inclusion in the Xinfinit browser application alongside the OOTB Widgets. This not only enhances the functionality with tools and data from 3rd party sources but also allows financial institutions to add their own proprietary value added content.
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