Officially launching on March 26, FinTech Sandbox will offer startups free access to data feeds and APIs from providers such as Thomson Reuters and Xignite. The idea behind this initiative is to tackle a challenge all fintech startups face: timely access to capital markets data without breaking the bank. The Sandbox's scope could eventually cover other fintech sectors, including insurance and credit.
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.