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Solactive launches new FinTech index

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Solactive AG has launched the Solactive FinTech 20 Index, designed to track the 20 largest companies which are major players in the Financial Technology (FinTech) space. 

The Index is used to underly UBS Open End Index Certificates, available in EUR and USD.
 
FinTech includes all technologies applied to financial services; from existing players adopting new approaches to startups pushing today’s boundaries with innovative ideas. The financial industry commonly refer as part of FinTech any technological innovation in segments such as retail banking, digital wallets, mobile baking, trading, lending & crowdfunding, security & privacy, payments & transactions.
 
According to Research, Global investment in FinTech ventures has tripled recently, from under USD930 million in 2008 to more than USD2.97 billion in 2013. Given the dramatic changes occurring in financial services, driven by new technology, regulations, consumer behaviour, and the need for cost reduction, this global trend is expected to continue for the foreseeable future.* Generally speaking, banking digitalisation is also seen as one of the two main concerns for the industry, together with regulation pressure, given how both have intensified over the past 18 months.**
 
Steffen Scheuble, CEO, Solactive, says: “The growth and success of FinTech is key to the future of the financial industry. What may seem like a nichy concept at the moment will very likely be a cornerstone of tomorrow’s banking and investment world. We hope that the Solactive FinTech 20 Index will help investors gain access to this interesting, fast growing market.”
 
Steffen Kapraun, Structured Products Expert, UBS, says: “UBS has a strong track record as a provider of efficient investment solutions that open up new markets for investors. With our two new Open End Index certificates we build on this history of product innovation and allow investors to add tailor-made exposure to the most important FinTech companies to their portfolio.”

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