Seeks to track the performance of companies included within the peer-to-peer securities based crowdfunding and digital lending ecosystem. The Index is owned, developed and maintained by CrowdBureau Corporation.
Index eligibility is also restricted to companies included within the peer-to-peer securities based crowdfunding and digital lending ecosystem, as determined by CrowdBureau.
On a quarterly basis, CrowdBureau evaluates the business operations of companies that have equity securities listed and traded on a nationally recognized securities exchange in the United States to determine whether such business operations fall into one of the two segments which comprise of four categories that make up the peer-to-peer securities based crowdfunding and digital lending ecosystem based upon data available from public sources.
Companies are assigned to one of the two segments, namely, Peer-to-Peer Marketplace Lending and Digital Banking Platforms and Providers of Software Solutions that make up peer-to-peer securities based crowdfunding and digital lending ecosystem set forth below.
·Peer-to-Peer Marketplace/Online Lenders. Companies that derive at least 50% of their revenue from the operation of loan-based crowdfunding platforms on which individuals and institutions may lend to individuals or businesses seeking loans and other credit-based offerings.
·Financial Institutions Offering a Digital Banking Platform. Companies that offer dedicated peer-to-peer lending and/or digital banking in the form of a separate business line or cost unit within a larger financial services franchise. The Index selects up to ten companies from this category. To be included within this category, the Index begins with all US registered bank. From that universe, the thirty largest banks by assets are selected. From that group, the banks that have a dedicated digital banking platform (as defined by CrowdBureau) are identified. Of these banks, those banks with no branches are include in the Index. Of the remaining banks, those that derive 50% or more of their revenue from digital banking are also included in the Index. If ten banks have not been identified by the previous process, the remaining banks are then compared based on a scoring system which ranks the banks by adding their digital deposits, mobile users and registered digital users. The banks with the highest rankings are selected to complete the group of ten constituents.
·Social Networking Platforms. Companies operating social network platforms that enable individuals to lend or borrow without a bank serving as intermediary. This includes mobile banking, cash advances, remittances, and/or other forms of credit as part of a commerce ecosystem to support buyers, sellers or other customer groups.
·Providers of Technology and Software Solutions. Companies that derive their annual revenues from technologies, software solutions or data analytics intended to evaluate, underwrite, fund, provide financing and payment services that facilitate access to and extension of credit so as to enable and facilitate the operations of peer-to-peer lending and equity crowdfunding platforms.
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