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ARTICLE · 09 AUGUST 2016

The First FinTech Stock Index Is Announced

McCarthy Tétrault
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The first major index devoted solely to U.S. publicly traded financial technology companies is here. According to recent articles by BusinessWire and the Wall Street Journal, investment bank Keefe, Bruyette & Woods (KBW), together with Nasdaq Inc. are now offering the "KBW Nasdaq Financial Technology Index".

CanadaTechnology
Ana Badour
Ana Badour
Genevieve Pinto
Genevieve Pinto
Heidi Gordon
Heidi Gordon
Jake Irwin
Jake Irwin
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The first major index devoted solely to U.S. publicly traded financial technology companies is here. According to recent articles by BusinessWire and the Wall Street Journal, investment bank Keefe, Bruyette & Woods (KBW), together with Nasdaq Inc. are now offering the "KBW Nasdaq Financial Technology Index".

According to the WSJ article, KBW and Nasdaq Inc. define "fintech" using 3 criteria:

  1. the companies primarily sell financial services;
  2. the companies are not predominantly brick-and-mortar oriented; and
  3. the key income generator for these companies is fees, not interest on loans or deposits.

The 49 companies currently in the KBW index include a significant number of more established financial technology businesses, including major credit card companies, ratings agencies and credit bureaus, data services and other financial technology heavyweights. The criteria applied by KBW may exclude some technology service providers and certain online lenders that

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