Intrinio launched a fintech marketplace this week and this blog explains why Intrinio is making this change, how the user experience will be the same, and how it will be different.
Why a Fintech Marketplace?
Intrinio's mission is to help investors save money and make time so they can live more meaningful lives. Investors need innovative applications that make data entry and analysis easier so they can spend more time conducting research, generating insights, and questioning assumptions.
The challenge developers face in creating these applications is getting data- traditional data providers make financial data for app development expensive and hard to use.
To change the status quo, Intrinio has striven to make financial data affordable and easy to access by providing developers with self-signup APIs that feature minimal restrictions and disruptively low prices. To date, developers have used Intrinio's APIs to build dozens of applications- apps that pull data into Excel, apps that use machine learning to predict stock prices, and apps that combine financial data with the blockchain.
We realized our model was working this summer when we noticed our user growth was exponential. Making financial data affordable and accessible to developers was unleashing their creative potential, resulting in a wave of new applications that really did help investors lead more meaningful lives. The only thing we needed to change was to provide even MORE data. After hundreds of conversations with our users, we realized Intrinio cannot provide all of the data you need- you need all of the data traditional data providers aggregate, but you need it to be affordable and easy to access.
The marketplace is our solution to the demand for Intrinio's model. Over the coming weeks you will notice new APIs in the marketplace- some of them from Intrinio directly, others from 3rd party data providers who believe data is worthless without developers to build apps and investors to use those apps. The Intrinio Fintech Marketplace seeks to bring all three groups together- data providers who want to work with developers, and developers that want to work with investors- in one place.
What will be the same?
Users of the marketplace can still sign up for free and our applications, listed below, will be available without charge:
- Intrinio Excel Add-in
- Intrinio Screener for Excel
Users on a paid plan will have the option to keep their current subscription. The account page will remain the best place to monitor usage, change a subscription, or get API keys. Chat support will still be included for free for all users.
What will be different?
The Intrinio Fintech Marketplace will feature an increasing number of third party APIs, web sockets, and data feeds that will provide users with more options and more data types.
The marketplace will also include an increasing number of third party applications built with the APIs available in the marketplace. Investors will be able to search the marketplace for applications that fit their needs and developers will be able to search for APIs that fit theirs.
For many apps, like Excel, users will be able to add API subscriptions, expanding the data that is available through the Excel Add-in with each new addition. Previously, when there was only one API, users did not subscribe to multiple APIs.
The pricing structure for all products in the marketplace will diverge from the pre-existing pay-per-API call pricing Tiers Intrinio used to employ. We realized this system was confusing and didn't fit the needs of most users. Instead, each API and application has its own pricing structure and plans. While each product is different, many products include some of the following plans:
- Free Trial- Limited access with full features
- Individual- Designed for less serious investors
- Start Up- Includes redistribution for qualifying application developers
- Developer- Includes 6 months of free access to the Start Up plan for qualifying developers
- Enterprise- A custom plan to fit the needs of established firms
As always, you can chat us by clicking the icon in the bottom right corner of our website. We take user feedback seriously, its why we launched the Intrinio Fintech Marketplace and the improvements we make in the coming months will certainly be driven by your ideas. We can't wait to see what you build.