TradeIt: API-First Online Trading with Apigee
Editor's note: Today we hear from Joel Hancock, head of product at TradeIt. TradeIt is dedicated to helping people stay in control and connected to their investments by building the underlying API infrastructure to link app developers with ﬁnancial institutions.
TradeIt is the leading API for online investing. We connect retail brokers to the TradeIt ecosystem and distribute our API to app developers who use it to enable their users to view portfolios and trade directly from brokerage accounts.
Most of the large retail brokers are integrated into our ecosystem. We've also just distributed our API into one of the largest financial media applications and we’re working closely with several others. We’re excited to be collaborating as well with Google for future integration with Google Assistant.
When we were getting ready to start building an API ecosystem for investing, we had to start thinking early about our API gateway, session management, our API interface, and the developer portal. Initially we started building every one of those on our own, which was a huge undertaking.
As we faced the challenges of scaling and growth, we realized that we should look at what was available on the market–that the smart move would be to leverage a best-in-class API solution instead of building everything in-house. We looked at a few solutions and found Apigee the best for several reasons. We especially appreciated Apigee technology partnerships and the overall functionality of the API developer portal.
At this point, we use Apigee internally in a proof of concept. We plan to go live in Q4 of this year. For us, as an API-first company, Apigee is more of an infrastructure adjustment than a real change in how we do business. We expect the changeover to be transparent to our users. Rather than relying on the switch to Apigee to focus on pushing more product-based features, we see the value because it's just more sustainable in the long term. We couldn’t possibly build, manage, and maintain the kind of feature set, security, stability, scalability, or innovations that the Apigee API management platform gives us.
We built the platform before implementing Apigee. I believe that if we had known that Apigee was out there, we would have started with it from the beginning, saving a lot of time and development costs in the process. Right now, we’re at the point in our migration where we’re seeing that Apigee does a great job at providing us analytics on our API usage, and we can already leverage the developer portal.
I think the main challenge for our team of 10 developers was figuring out how to integrate Apigee to match our business project. The Apigee platform was very helpful when it came to building our own API interface and what we expose to our developers.
We still have a lot of business logic that's very specific to the brokerage field that has to be integrated in the best possible way with Apigee, but we’ve been encouraged so far. Our model is a single API made from aggregating many different trading APIs, and people use us to streamline connecting with popular retail brokers. We’re working on building the logic to map between our APIs and the brokers’ APIs so that we can complete our migration to Apigee.
We’re excited about seeing significant ROI from Apigee soon!