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 |
| XOOM | 0.9 | XOOM |
| 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 |
| XOOM | 4.7 | XOOM |
| 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.
