How Sigmastocks assures data quality through APIs
Sigmastocks, a finance industry challenger in Sweden, has implemented Roaring's APIs to ensure data quality and streamline their B2B customer onboarding process. By leveraging these APIs, Sigmastocks can collect and verify data automatically, pre-populate relevant information, and perform background checks during the onboarding process. This automation eliminates the need for manual work and helps Sigmastocks ensure accurate and up-to-date data. The decision to choose Roaring as a supplier was based on their well-documented, developer-friendly APIs and flexible pricing based on data consumption.
Challenge
After launching their automated savings service for individuals, it was time to target corporate customers. A venture that required a lot more data, both from a risk assessment perspective as well as legal.
– Between compliance requirements and our own need for data, we have to collect and verify a lot of information during the onboarding process. Even more so when onboarding corporate customers. Says Jakob Csörgei Gustavsson, CTO at Sigmastocks.
– When looking for a supplier that could provide us with the data we required in a technically simple and user-friendly way, we found Roaring.
Solution
By using several APIs, data can be collected, verified and pre-populated throughout the onboarding process. This has helped create a flow that is fully automated and basically requires no additional manual work for Sigmastocks.
– The implementation of Roaring APIs in our process has had two major effects. One is that we can pre-populate and automatically collect data, for example company details, financial data, information about beneficial owners and board members etc. This helps us verify that the data is accurate and up to date.
– The other one is that we can create a 100% automated onboarding process, with the Signing Combinations API. Instead of verifying that the user is a valid signatory afterwards in a manual step, we can now verify everything in the background, while the user onboards.
As a technical director, Jakob says the choice of supplier was easy.
– The choice was quite simple, to be frank. Well-documented, developer-friendly APIs with a flexible rate for data collection based on consumption, were a couple of things that we really liked about Roarings offer.
Sigmastocks provides a fully automated investing service for both individuals and companies. Their technology enables digital portfolio management directly in shares of stocks.
From this, many benefits can be achieved, such as personalization of the portfolio, more flexibility, as well as one of the lowest fees on the market. The service currently has 8.000 customers in total.
