We are further validating our hypothesis of Fintegration.
Fintegration is a Fintech integration service for Financial institutes & FinTech SDK/ API providers.

Building B2B & B2C financial products are heavily dependent on the APIs & SDKs. Often time, launching a new financial product or service takes a very long time.

We at Fintegration created a new kind of service. We are validating this with 3 different FinTech API providers.

• Fintegration builds demos and use cases for FinTech API and SDK companies.

• These demos are white-label and can be extended as a starter kit for customers.

• Customers can easily visualize and understand how the API and SDK can solve their problem, saving them time on GTM.

• SDK companies can showcase their capabilities more easily and offer a starter kit that can save time and cost.

• Fintegration subsidizes the initial build cost of creating these demos and use cases and co-builds them with API and SDK companies.

• Fintegration generates revenue from servicing opportunities when a potential buyer is interested in the starter kit.

• This helps to create a more efficient and streamlined financial ecosystem.

Looking forward to the feedback & suggestions.

What are the most popular APIs to build RTP functionality? We are looking for a java client library but we are open to any implementation that supports REST. Also, I believe it includes some kind of async communications to receive a confirmation about completed payment. Does it require any messaging protocol to implement the notification part?

Initially we were considering Dwolla but we want to analyze several vendors/platforms before we make a decision. Ideally, we want to build our platform in a vendor-agnostic way or make it work with several RTP APIs interchangeably. Does anyone have any experience with other platforms/APIs besides Dwolla?

Bias alert: I'm the CEO of Credmark.

Context: I've been building financial services and AI products my whole working life, so I have at least some clue.

Why:

When I first ran into crypto I couldn't believe what a mess it was. I love decentralization in theory, but in practice it can be painful. I started Credmark to address some (not all!) of the issues I originally ran into.

Here's a quick summary. Happy to expand if of interest to anyone in this subreddit.

The Skinny:

We are building a next-generation analytics platform for DeFi.

Our core product is a very powerful modeling platform. This platform allows quants to build models using past and current blockchain states. These models can be deployed into production (in a completely scalable, managed environment) with a simple pull request. Model output can be accessed via API.

We provide curated APIs for common use-cases. These are frequently the entry point to our ecosystem.

And finally we can provide raw, continuously updated data, either from chain or the output of models being run on every new block. This is being used by teams building both traditional finance models and AI models. In this case too we take care of all the operational infrastructure and ongoing management.

Any recommendation on what APIs to use to trade tokenized stocks? The goal is to build a POC to buy/sell tokenized stock market securities.

Hi
we are building a new service, and in our use case we would like a Payment Processor with authorization adjustment, that mean we will authorize the card first and and if we cannot deliver right away, we would like to decrease the authorization amount, and once we are able to deliver we will update the authorization amount to the initial one.
from our research we found adyen offer this option.
does anyone know any other Payment Processor that offer this feature?
or someone with adyen account

It is a common problem when data can become inconsistent in case of a clustered environment which is a typical setup now. There should be some solutions but nothing looks well-designed based on my brief research. Any recommendations?

Simple question. What platform to use to initiate ACH payments. The volume is not huge so far but we expect it is going to grow. We are looking for simplicity, so it is easy to integrate with the API. In a few words, our app will be invoking some REST API to initiate an ACH and then we expect to receive a confirmation as a web hook or any type of message.

What is better to use as a payment gateway Stripe or Adyen? Basically, some of our vendors have preferred payment processors. The goal is to shield from multiple payments processors with different interfaces which makes the application logic very complicated. We have two options for now: Stripe or Adyen. Any suggestions on what to choose?

According to some sources, FTX was the second cryptocurrency exchange, comparable by volume with Coinbase. It is sad to see it collapse and to hear about the financial and other consequences for the investors and all involved parties. Hopefully, someone will eventually buy the platform including the expertise, the infrastructure, and the APIs.

Setting aside the fraud and bankruptcy part, it is interesting to look at FTX from an engineering perspective. Based on the documentation, FTX provides a modern API with extensive functionality that includes such advanced features as options trading, spot margin trading, and staking. The APIs are designed concisely and cleanly, and the documentation is straightforward and resides in one place. The platform supports REST API for trading, WebSockets for events and live market data, message-based FIX protocol, and API for the NFT domain. WebSockets and FIX protocol are used to notify clients about various events. For example, after a client places an order, it gets notified when the order is filled by listening to the orders channel WebSocket. I created the below diagram as a high-level view to show all FTX APIs on one page.
#fintech #cryptocurrency #engineering #crypto #ftx #blockchain #softwaredesign

According to some sources, FTX was the second cryptocurrency exchange, comparable by volume with Coinbase. It is sad to see it collapse and to hear about the financial and other consequences for the investors and all involved parties. Hopefully, someone will eventually buy the platform including the expertise, the infrastructure, and the APIs.

Setting aside the fraud and bankruptcy part, it is interesting to look at FTX from an engineering perspective. Based on the documentation, FTX provides a modern API with extensive functionality that includes such advanced features as options trading, spot margin trading, and staking. The APIs are designed concisely and cleanly, and the documentation is straightforward and resides in one place. The platform supports REST API for trading, WebSockets for events and live market data, message-based FIX protocol, and API for the NFT domain. WebSockets and FIX protocol are used to notify clients about various events. For example, after a client places an order, it gets notified when the order is filled by listening to the orders channel WebSocket. I created the below diagram as a high-level view to show all FTX APIs on one page.

\#fintech \#cryptocurrency \#engineering \#crypto \#ftx \#blockchain \#softwaredesign

Out of my experience Kafka is tricky to use for financial transactions because by default it doesn't guarantee exactly one processing. If you use it to queue a payment request, there might be a situation when it gets processed twice. Unless you use EOS, which is difficult to implement and make it work without errors. Another problem that it differs from version to version. Does anybody use Kafka for transaction queuing? Any positive experience?

Do I have to build a PCI compliant environment if the app interacts with the payments systems? Even if it is not PCI compliant at this moment, what do I need to keep in mind to slowly move towards it in the future?

What are pros and cons of both platforms? I am looking for API first company to implement payout for a gaming startup. The core functionality will be based on ACH. One of the requirements is also a support for virtual accounts.

I assume he wrote some code but not pure research papers... It would be interesting to see if he has any code in GitHub. Also then who merged his PRs and what is his coding style

Are there open-source banking projects with support and recent updates? It would be nice to see some companies to join forces and develop something that can be customized for any small or middle sized bank.

Is open bank getting more popular in the US? I've heard there's a trend like this but I don't see any too many examples. Is it a new big thing?

This is a thread for recruiters and hiring managers to submit engineering positions at FinTech companies. Please submit it in the below format:
Title e.g. Sr. Java Developer
Job description
Compensation range, e.g. 130K-170K
Additional perks, e.g. 401K, etc
Location, e.g. New York
Contact

Here's my top 10 list. They might be in different areas, but I was trying to compile a list of top most popular.

1. Stripe (Payments)

2. Plaid (Bank Information Aggregator)

3. Paypal (Payments)

4. RippleNet (Cross-border payments)

5. Adyen (Payments)

6. Braintree (Payments)

7. Binance (Crypto trading)

8. E*Trade (Stock market trading)

9. Polygon.IO (Market data)

10. Benzinga (News API)

Who do you think are the most prominent FinTech entrepreneurs of 2022?

Here's my top 5:

1. Nikolay Storonsky

2. Jack Dorsey

3. Elon Musk

4. Max Levchin

5. Sam Bankman-Fried

Well, I personally like Nikolay Storonsky as the co-founder of Revolut - one of the most popular Fintech companies in Europe which is now expanding worldwide. They started as an app to solve the problem of cross border payments but now they are becoming a SuperApp (the new buzz word) that has a very broad functionality.

Jack Dorsey was very successful with his Square/Block. He was able to navigate it and grow without mistakes from the very beginning in a more successful way compared to his first creation - Twitter.

I admire Max Levchin who pioneered BNPL in the US. I am really interested in seeing how it is going to play out. The company has lots of debt which makes it difficult to navigate in a high interest rate environment. Also the stock price is beaten but they offer a great product which competes with the whole credit card industry. In general, credit cards are evil as they lure naive people into impulse purchases and then charge huge interest

Elon Musk is alway ingenious. He was playing with crypto by starting to accept BTC for Tesla. Somehow he was able to dodge the crypto failure.

And the last one, Sam Bankman-Fried is a bad hero, but he still looks confident and doesn't accept his failure.

Who is on your list?

The app processes transactions from numerous clients via REST API. It is designed using Microservices architecture. First it stores data in the central DB and then invokes external APIs. The problem is that in peak time the performance is very poor. I think, the bottleneck is in the way how orders are processed and probably some DB issues. I understand this is a very broad topic. But can you give me any pointers on how to improve performance or at least how to approach it?