Core Banking & Issuer Processing Infrastructure

Ameriprise Financial

Cboe Global Markets operates as a leading global exchange offering a diverse ran…

CME Group operates leading derivatives exchanges, including the Chicago Mercanti…

Workflow integration, data aggregation

Deep bank core integration

Clover POS + bank processing

Global Payments operates in the payments technology industry, providing software…

NYSE + mortgage data monopoly

98% community bank retention

Moody's has a strong competitive moat due to its position as one of the top thre…

Index licensing, ESG analytics

Nasdaq operates a global exchange and technology business. Its primary moat come…

Ratings duopoly + indices

American Express benefits from a strong brand name and a closed-loop network, me…

Apollo Global Management is a high-growth alternative asset manager. The company…

Ares Management operates as an alternative investment manager, focusing on credi…

Bank of New York Mellon operates as a global custodian bank, providing a wide ra…

Berkshire Hathaway is a diversified holding company with a vast array of busines…

BlackRock's primary moat comes from its sheer scale and diversified product offe…

Blackstone's moat lies in its brand reputation, extensive network, and expertise…

Block's moat comes from its strong brand recognition and network effects in both…

Capital One Financial benefits from a strong brand name and a substantial custom…

Charles Schwab is a diversified financial services company with a strong brand a…

Coinbase benefits from a strong brand name and network effects in the cryptocurr…

Corpay (formerly FLEETCOR) provides a variety of corporate payment solutions, in…

Franklin Resources is a global investment management organization operating as F…

Goldman Sachs operates as a leading global investment bank, offering a wide rang…

Interactive Brokers Group is an automated global electronic broker that serves i…

Invesco operates as an independent investment management firm, offering a divers…

KKR is a global investment company that primarily focuses on private equity, ene…

Mastercard benefits from a powerful network effect in the payment processing ind…

Morgan Stanley is a global financial services firm that benefits from strong bra…

Northern Trust is an established investment management firm with a long-standing…

PayPal operates a two-sided global technology platform that connects consumers a…

Raymond James Financial is a diversified financial services company with a stron…

Robinhood Markets operates as a financial services platform, primarily generatin…

State Street Corporation benefits from high switching costs and regulatory barri…

Synchrony Financial is a leading provider of private label credit cards in the U…

T. Rowe Price is a leading global asset manager that offers a broad range of mut…

Visa operates the world's largest retail electronic payments network. Its wide a…