Daily Fintech Index Now With 23 Companies

Last month we published the first version of the Daily Fintech Index. A few people suggested some additions, so here is the updated Index ranked by Market Cap:

Company Market Cap Symbol
Visa 166.7 V
Mastercard 107.8 MA
American Express 78.8 AXP
Charles Schwab 42.7 SCHW
TD Ameritrade 20.1 AMTD
Fiserv 20 FISV
e-Trade 8.5 ETFC
MSCI Barra 6.9 MSCI
Factset 6.8 FDS
SS&C Technologies 6.4 SSNC
Lending Club 5.5 LC
Jack Henry & Associates 5.3 JKHY
Markit 4.5 MRKT
DH Corp 4.2 DH.TO
Wisdom Tree 3 WETF
Fair Isaac Corp 2.8 FICO
ACI Worldwide 2.8 ACIW
Interactive Brokers 2.6 IBKR
Ondeck 0.8 ONDK
Virtu 0.8 VIRT
Yodlee 0.4 YDLE
Monitise 0.3 MONIF

I added 5 names based on suggestions in comments. Four of them I would classify as data ventures. Call them Big Data or Data Science to be tech trendy. These are Markit, Factset, MSCI and Wisdom Tree. The latter is interesting because their ETF data is a big enabler for Fintech innovation such as Robo Advisers.

I also added four electronic brokers – Charles Schwab, TD Ameritrade, Interactive Brokers and eTrade. Broking is now almost completely a tech business. These e-brokers were born in an earlier era but they are just as Tech as the Fintech startups of this generation.

I deleted some for a bad reason. Stocks that are not traded on NYSE or NASDAQ are harder to track (using Yahoo Finance). In this Globalized era, why is cross border equities investing still such an inefficient market? If anybody knows a good free alternative to Yahoo Finance that does global stock markets, I would love to hear about it.

However even with some deletions, we have a healthy number in this Index – 23. Here is the updated Index ranked by Revenue Multiple:

Company Rev Multiple Symbol
Lending Club 27 LC
Wisdom Tree 15.4 WETF
Visa 12.6 V
Mastercard 11 MA
Ondeck 9.3 ONDK
Virtu 9.3 VIRT
Factset 7.1 FDS
Charles Schwab 7.1 SCHW
MSCI Barra 6.8 MSCI
SS&C Technologies 6.4 SSNC
TD Ameritrade 6.4 AMTD
e-Trade 4.9 ETFC
Yodlee 4.6 YDLE
Markit 4.6 MRKT
Jack Henry & Assoc. 4.1 JKHY
Fiserv 3.9 FISV
Fair Isaac Corp 3.3 FICO
DH Corp 2.9 DH.TO
ACI Worldwide 2.8 ACIW
Monitise 2.8 MONIF
American Express 2.5 AXP
Interactive Brokers 2.1 IBKR

We will soon have an exciting addition to the Daily Fintech Index – PayPal. That will be as big an event in Fintech as the Lending Club IPO, but that is another story for another day.


– Please tell me if I have missed any.

– Must have the majority of revenues from Fintech.

– Could be Traditional Fintech, Emergent Fintech or New Wine in Old Bottles (traditional financial services companies that are now so automated that they are competitive with Fintech startups).

– Minimum $300m market cap (to avoid penny stock hype and ventures too small to be public).

– Could have been founded a few years ago or a long time ago (no ageist bias here).

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