Boston, MA and Chicago, IL (PRWEB) October 26, 2015
FinTech Sandbox, a nonprofit whose mission is to promote entrepreneurship and innovation globally in the financial technology sector, today announced that Morningstar, Inc. will provide startups selected by FinTech Sandbox with free access to its global investment databases for six months.
Uniquely, FinTech Sandbox facilitates free access to financial data and infrastructure for up-and-coming FinTech startups around the globe. The Sandbox takes no fees and requires no equity from participating startups. The six-month program includes:
- 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
“Morningstar’s mission is to help investors reach their financial goals, and we want to work with companies that share this mission,” said Joanna McGinley, head of redistributor solutions for Morningstar. “We are excited to contribute our data to FinTech Sandbox and the startups it supports.”
Morningstar is offering FinTech Sandbox participants access to the following data:
Morningstar Managed Products Data: Morningstar Data for managed products has nearly 100% market coverage. Data includes portfolio, performance, and operations information.
Morningstar Equity Data: Morningstar Data for global equities offers comprehensive global coverage of fundamental data, including more than 670 standard data points for all financial line items and more than 300 calculated data points. Equity data includes comprehensive ownership information from more than 40,000 distinct managed-product portfolios. Additionally, Asset Classification data delivers industry, sector, and regional constituency information across a range of investment types.
Morningstar Real-Time Market Data: Real-time market data comes from more than 260 global exchanges, index providers, banks, and inter-dealer brokers, covering more than 15 million instruments.
Morningstar ByAllAccounts Data: Aggregated and normalized financial account data from more than 15,000 sources. It covers both transactional and positional data from a number of account types, including retirement accounts, 529 plans, annuities, bank accounts, credit cards, employee stock options, endowments, loans, offshore funds, REITs, and more.
Added Jean Donnelly, Executive Director of FinTech Sandbox, “Morningstar revolutionized mutual fund analysis, so they understand innovation in financial services. The company’s strong belief in supporting entrepreneurs in the global FinTech community makes Morningstar an excellent collaborator for our startups.”
About Morningstar, Inc.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 17 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $170 billion in assets under advisement and management as of Sept. 30, 2015. The company has operations in 27 countries.
About FinTech Sandbox
FinTech Sandbox is a Boston-based nonprofit founded to promote financial technology innovation globally by providing free access to critical data and resources to FinTech entrepreneurs and startups. 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 http://www.fintechsandbox.org and https://twitter.com/fintechsandbox.