Financial Technology Index
The stock market now has a financial technology index
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It’s been a long time coming and finally, the Stock Market now has an official financial technology index. This index called fintech will be used to track the performance of companies that improve on financial products and services through technology. Since this aspect of the tech and finance industry grows every year, it would make sense for it to have its own index.
The new fintech index (KFTX) will include companies such as Paypal, Samsung Pay, Square, Apple Pay, Crowdfunder, Ethereum, Coinbase, MarketAccess, Visa and many others. These companies deal in payments, trading, insurance, investment, and banking. These companies number 49 in all and is expected to grow.
Investments in these types of companies continue to grow. By the first quarter of 2016, fintech investments have reached 5.3 billion dollars, a stunning increase of 67 percent as the world continues to rapidly adopt tech-supported financial transactions.
If you wish to invest in the new index, here are some of the companies you’ll find.
• Paypal – no need for introductions
• Visa Checkout – owned by Visa, it has partnerships with plenty of major companies including Starbucks and Best Buy
• Samsung Pay – a Samsung subsidiary that handles mobile payments made with Samsung devices
• Android Pay – or Google Pay is similar to Samsung pay but is more on Google’s side.
• Venmo – an authority on peer-to-peer payments
• Xoom – an international money transfer company owned by Paypal
• Square – the popular credit card payment processing system used by vendors through i-devices
• Remitly – a popular remittance transfer service used by overseas workers and others
• Apple Pay – handles mobile payments made through Apple devices
• Betterment – the most popular automated financial advisor in the US
• Advizr – a popular financial planning company
• Nutmeg – a financial investment company that specializes in pensions and ISAs
• Habito – a digital mortgage adviser that makes it easy for people to handle mortgage applications
• Wealthfront – a company similar to Betterment but manages accounts less than $10000 for free
• Hedgable – a financial advisor for millennials
• WealthSimple – Canada’s largest automated investing service
• Slice Labs – an insurance startup that offers Uber and Lyft drivers pay-per-use policies
• Bought By Many – a popular insurance adviser service. Two-time winner of Fintech Innovation Awards
• Shift – automates insurance claims and specializes in insurance fraud
• Oscar – this startup specializes in health insurance
• WeSavvy – rewards its members for actively engaging in healthy living
• Roost – an insurance firm that also deals in smart home technology
• Lemonade – a major insurance firm with ties to companies such as Apple, Netflix, Macy’s, Walmart and more
• Fitsense – like WeSavvy, integrates wellness tech to help people personalize their health and life insurance
• Coinbase – a major bitcoin trading company
• BitStamp – the first licensed bitcoin trading company in the European Union
• Circle – a cryptocurrency company in which you can’t go wrong as it’s supported by companies like Goldman Sachs
• LendInvest – UK’s leading investment and lending company
• Crowdfunder – equity and revenue-based financing made easy
• CrowdCube – another popular crowdfunding platform in Europe
• Lufax.com – China’s largest investment financing company