IDC Financial Insights relied on a number of sources to gather the data in the eighth edition of the FinTech 100 and Enterprise 25 rankings.
First, the research firm, along with American Banker, Bank Technology News and William Mills Agency, requested financial information from thousands of technology companies that serve the financial services industry. Second, publicly available resources such as Hoovers, Edgar and company filings and websites were used to validate and gather data. IDC Financial Insights also used proprietary resources.
For all the companies, IDC Financial Insights determined eligible calendar year 2010 revenue generated from sales of software, hardware and IT services to financial institutions.
Not included are revenues from network, telecommunications, electronic exchanges, or data services providers.
The rankings have two major categories of companies:
- FinTech 100: Financial technology companies that derive more than one-third of their total global revenue from the financial services industry
- Enterprise 25: Horizontal technology firms selling products and services across multiple industries that derive less than one-third of their revenues from financial institutions
Firms that derive revenue from excluded categories, but also have revenues tied to software, hardware or services, are considered. For those providers, the revenue attributed to excluded categories is used to qualify the provider to meet the one-third hurdle, yet only the qualifying portion of revenue is included in the ranking. That's why vendors appear on the FinTech 100 list with financial services revenues below 33%.
We made a concerted effort to include all possible candidates. Some companies in qualifying industries that submitted forms did not make the rankings because of insufficient revenue or inability to validate. For companies outside the U.S., we calculated U.S. dollar figures using IDC's standard blended exchange rate for 2010.
