Nasdaq, KBW Launch Fintech Index

The Nasdaq Stock Market and investment bank Keefe, Bruyette and Woods yesterday launched a new stock index focused on publicly traded financial technology firms. The 49 companies included in the new index, whose ticker is KFTX, represent nearly one-fifth of investable domestic financial services sector and have a combined market cap of $785 billion.

The index includes banks that principally focus on digital distribution of financial services, including BofI Holding, Inc.; EverBank Financial Corp.; and Green Dot Corp. It also includes nonbank consumer-facing companies like Lending Club; core processors such as Fiserv and Jack Henry and Associates; payment firms like Visa, MasterCard, American Express, PayPal Holdings and Square; and other technology service firms like First Data and Fair Isaac Corporation.


About Author

Monica C. Meinert

Monica C. Meinert is deputy editor of the ABA Banking Journal and editorial director at the American Bankers Association, where she oversees ABA Daily Newsbytes.