Boston is home to dozens of startups in the field of financial services technology, or fintech.
As my cover story this week illustrates, the newcomers are quickly becoming an essential part of one of the city's oldest and most well-established industries. Boston's status as a finance hub may ride on the degree to which the State Streets and Fidelitys of the world embrace the city's fintech startup scene and help it thrive.
Boston is home to dozens of startups in the field of financial services technology, or fintech.
FinTech Sandbox announced another strategic data partnership today with StockTwits, a leading provider of market data and information. StockTwits will provide the Sandbox’s FinTech startups with access to the largest real-time social network for investors and traders to contribute ideas on trading, sentiment, and breaking news, in real-time. With over 70 thousand messages a day, StockTwits offers a global perspective to local trends in the market.Read More
Barchart.com, Inc., a leading provider of market data and information, today announced a partnership with FinTech Sandbox. Barchart joins FinTech Sandbox as an official market data partner offering a variety of robust data feeds, software and APIs to FinTech startups looking for reliable market data and tools. FinTech Sandbox is a nonprofit that supports FinTech startups by providing tools and resources including free access to a robust set of data feeds and APIs, cloud hosting, and opportunities to collaborate within a vibrant FinTech community.Read More
FinTech Sandbox and TradeBlock announced today that TradeBlock will provide free access to digital currency and block chain data to startups participating in the innovative Sandbox program. FinTech Sandbox residents may use this data up to six months for development, testing and customer demonstrations purposes. The free data TradeBlock is making available includes:
Trading & index data
Economy / block chain data
Computational / mining network data
FinTech Sandbox is pleased to announce that eleven more startups are joining the program, bringing the total to seventeen. Residents in this cohort represent London, Boston, New York, and the San Francisco Bay area. Some of these innovators are targeting financial institutions with their products, while others are serving retail investors.Read More
The big players in financial services have long struggled to keep pace with technology. They’ve been slow to deploy the latest in computers and software to analyze data, pick investments, and engage customers.
That has created big opportunities for a slew of local entrepreneurs.
“The industry is just crying out for new ways of doing things,” said Adam Broun, chief operating officer of Kensho Technologies Inc., a Cambridge software company launched two years ago to speed the process of modeling the effect of world events on the prices of stocks, bonds, and other assets.Read More
I’ve been working in this sleepy little backwater of the financial industry, called FinTech, for longer than I would care to admit. For the majority of that time, I’ve had to endure awkward cocktail parties as I told people that I worked in finance or public relations or technology. Quite often I’d say “it’s complicated” and leave it at that.Read More
FinTech Sandbox, a nonprofit offering FinTech startups around the world free access to data, infrastructure, and community, announced today that AlphaPack has been admitted to the program. AlphaPack is the sixth and youngest FinTech startup accepted, joining Volos, Prophis Technologies, Kensho, Elsen, and Quantopian.Read More
FinTech Sandbox, a nonprofit offering FinTech startups around the world free access to data, infrastructure, and community, announced today that Volos Portfolio Solutions has been admitted to the program. Volos will use capital markets data available through the Sandbox to complete products that analyze both over-the-counter exotic and exchange-traded, vanilla derivatives. They are the fifth FinTech startup accepted, joining Kensho, Elsen, Prophis Technologies, and Quantopian.Read More
FinTech Sandbox announced today that risk management startup Prophis Technology has been admitted to its program. Prophis is the first startup to join the Sandbox since the program’s official launch earlier in March.Read More
FinTech Sandbox, created to foster innovation in financial services by streamlining access to data for financial technology startups around the globe, is coming out of beta and launching on March 26th at an event being held at the District Hall in Boston’s Innovation District. The launch will be attended by the FinTech Sandbox team; sponsors, advisors, and partners who made the Sandbox happen; and industry thought leaders who are dedicated to FinTech innovation.Read More
A new non-profit programme offering fintech startups free access to data feeds and APIs from providers such as Thomson Reuters and Xignite is gearing up for launch later this month.Read More
Non-profit Sandbox facilitates free access to financial data and infrastructure for innovative FinTech startups around the world
Boston, MA — FinTech Sandbox, created to streamline access to data for financial technology startups, today announced that Elsen, one of the program’s first companies, is using global securities datasets from FactSet to massively accelerate financial calculations.
Elsen provides financial services firms with the ability to run more complex simulations on more data faster and at lower cost. According to Zac Sheffer, co-founder and CEO of Elsen, “One of the greatest impediments for FinTech startups is the high cost or inaccessibility of financial data. FinTech Sandbox streamlined the entire process, shrinking the time required to secure access to data from months to a week or less. We were using sample data sets from FactSet in a matter of days. They were just incredibly helpful to us.”
FactSet is a leading provider of integrated global financial information and analytical applications for the investment community, and a FinTech Sandbox data partner. Said David Murdock, FactSet’s Vice President of Content & Technology Solutions, “We are excited to be a data partner of the FinTech Sandbox and thrilled to be working with innovative startups like Elsen. It is great to see this community coming together and we look forward to supporting Elsen as a member of the program.”
FinTech Sandbox offers a 6-month program providing:
- A robust set of data feeds and APIs from a wide array of data partners,
- Cloud hosting from industry-leading infrastructure partners,
- Membership in a vibrant, global FinTech community, and
- Some limited space for co-working and events.
The Sandbox doesn’t require any equity from participating startups – in fact, the program is entirely free. Says Jean Donnelly, Executive Director of the program, "What we ask is that entrepreneurs give back in-kind to the FinTech community. We ask that they share what they learn with each other, provide product feedback to our data partners, and contribute non-proprietary code or data mapping schemas to the FinTech community.“
Adds Donnelly, “At the Sandbox, we are very excited when we can introduce innovative new companies with an industry leading data provider. Both groups are so enthusiastic in exploring the ways they can work together."
FactSet is a leading provider of financial data and analytic applications for investment professionals around the globe. More than 55,500 users stay ahead of global market trends, access extensive company and industry intelligence, and monitor performance with FactSet's desktop analytics, mobile applications, and comprehensive data feeds. FactSet is listed on the New York Stock Exchange and NASDAQ (NYSE:FDS) (Nasdaq:FDS). Learn more at www.factset.com/ and follow us on Twitter: @factset.
Elsen is a financial technology company offering a high performance computing platform to hedge funds, banks, insurance companies and others who need to run financial models and algorithms faster and more efficiently. Elsen delivers GPU-accelerated processing via secure cloud or your own private infrastructure. Founded in 2013, the company is based in Boston, MA, and has an additional office in Washington, DC. For more information, please visit www.elsen.co and @ElsenTrading.
About FinTech Sandbox
FinTech Sandbox is a Boston-based non-profit founded to promote financial technology innovation globally by providing free-access to critical data and resources to FinTech entrepreneurs and start-ups. Sponsors include Fidelity Investments, Devonshire Investors, Thomson Reuters, Silicon Valley Bank, Amazon Web Services, Intel, SIX Financial Information, Goodwin Procter and .406 Ventures. For more information, please visit www.fintechsandbox.org.Read More
If you are as passionate about startups and data as we are, we are looking to hire a new Executive Director to lead the organization:
Founded in 2014, FinTech Sandbox is a leading nonprofit that provides critical data access and development resources to FinTech entrepreneurs around the world. Through partnerships with 40+ of the world’s largest providers of financial data and with many leading financial institutions, FinTech Sandbox helps startups get to market faster, with more robust offerings and with input directly from potential customers. FinTech Sandbox lives and breathes financial data.
FinTech Sandbox also has built a vibrant community of 5,000+ entrepreneurs, industry executives and investors. It has become a hub for gathering the FinTech community, sharing ideas and helping startups address industry and society’s most pressing financial challenges.
Executive Director role
Reporting to the Board of Directors, the Executive Director (ED) is responsible for leading FinTech Sandbox. You will be responsible for strategy, operations, organization and fundraising.
Strategy. FinTech Sandbox is always striving towards its goal of fast, free access for startups to financial data during their development phase. You will be responsible for setting the organization’s strategy and prioritizing partnerships and use of resources. You will be gifted at inspiring partners to collaborate with FinTech Sandbox and adept at managing expectations. You will communicate effectively with the Board and manage a high-performing Advisory Board of industry executives. You will be/become a well-recognized leader in the FinTech community advocating for our mission, for startups and for collaboration among industry participants. As the leader of the organization, you will embody the FinTech Sandbox community ethos.
Organization. The Executive Director will hire and lead a talented team of technical, marketing and partnership/BD executives. You will inspire them, provide clear expectations and help them achieve their goals. You will be responsible for all organizational matters, including human resources, compensation and outside vendors.
Operations. The heart of our mission is recruiting, selecting and supporting FinTech startups who enter the program to access financial data from our partners. Along with your team, the ED is responsible for designing and operationalizing a highly efficient and scaled process. The ED must have the technical acumen to guide the data professionals on the team who assist the startups using the financial data and share learnings with the broader community. In addition, the ED is responsible for the community-focused events and initiatives that touch thousands of participants annually, including FinTech Demo Days, Boston FinTech Week and customized events executed in partnership with our data and financial sponsors. Finally, along with team members and outside vendors, the ED oversees all internal operations including accounting, financial reporting, marketing and support.
Fundraising and financial performance. You will be an inspiring, tireless and effective fundraiser. Along with the Head of Partnerships and Business Development, the ED will sustain strong relationships with our existing financial sponsors and develop new partnerships that help FinTech Sandbox expand its impact. You will come to FinTech Sandbox with a deep understanding of financial services and well-developed network of senior executives. Over time, the ED will also creatively design new sources of revenue.
A college bachelor’s or master’s degree
10+ years of professional experience in high performing for-profit or not-for-profit organizations
Transparent and high integrity leadership. Strong work ethic with a high degree of energy.
Experience and skill in working with a Board of Directors
Experience leading collaborative organizations to high performance
High level strategic thinking and planning. Ability to envision and convey the organization’s strategic future to the staff, board, volunteers and donors
Ability to effectively communicate an organization’s mission to donors, volunteers and the broader community
A history of successfully generating new revenue streams and improving financial results
Fundraising experience. Excellent donor relations skills and understanding of the funding community.
Solid organizational abilities, including planning, delegating, program development and task facilitation
Strong financial management skills, including budget preparation, analysis, decision making and reporting
Strong written and oral communication skills
Excellent public speaking ability
Experience in FinTech and/or Financial Services
The position is located in Boston, MA with remote opportunities. To apply or find out more, please contact email@example.com
Thank you for your interest!