DriveWealth ETF – Data Feeds and Integration
Structuring the Data Feed Architecture for a New ETF Launch
New to asset management, this global fintech wanted help bringing a unique ETF to market. They asked Blue Flame Thinking to help run point to make sure the data feed architecture that fueled the ETF’s information was set up to populate the website interface correctly.
Our Data Feed Experience Helps Integration for Fintech
The DriveWealth team working on the ETF launch quickly realized the complexity of their data structure. Their custodian recommended they work with us as they knew we understood the complexities involved with both the data mapping and integration as well as the demands of working in a highly regulated and time-sensitive industry.
Mapping Hundreds of Data Points
Using the website page and fund fact sheet initial prototypes as a guide, we set to work on identifying each data point and time period the team wanted to include. We categorized the points by performance, holdings, and sectors and created a mapping document that identified each point’s frequency, source, and destination.
Our mapping document served as the point of truth for all changes and gaps. Everything that needed to be included was documented and sourced on this document, and it continued to be referred to well past the launch.
Navigating Multiple Data Vendors for Fintech Data Feed Integration
Tapping our industry knowledge and experience with several data providers, we provided the DriveWealth team with recommendations on which data providers to reach out to for the different types of data. We had several conversations with these data providers to discuss what was readily available versus what required custom modifications. Seeking to minimize potential failure points, we strived to reduce the number of providers to as few as possible.
Once we identified the right providers, we requested sample files so we could better identify any potential issues or gaps that needed to be addressed. Working with multiple data providers can be challenging, as you deal with different file types, processes, and timing. Like many of our clients, DriveWealth planned to get some data from their custodian and some from other partners.
Bringing the data together and serving it up into the user interface requires technical coordination and collaboration. This step must also adhere to the fintech industry’s strict guidelines around timing and sourcing.
Ensuring Data Accuracy and Proper Web Display
The work doesn’t stop once the files are set and the data vendors know what they need to deliver and when. Together with the data providers, we tested the file submissions to make sure they were received and uploading correctly and nothing incorrect slipped through.
Whether you’re new to asset management or have hundreds of products, data is critical to your operations. Your team needs to understand the ins and outs of working with data providers. We’ve built many financial websites and worked with several data providers. Our insights and experience can help you navigate the data feed web and tie it all together.
Reach out if you’d like to have a quick consultation around how we may be able to help you.
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