Technology

 

FX Outlook; Startups; Technology; Venture Capital; Asia; Europe; U.S.
January 14, 2016 Posted by
In 2016, the dollar will continue to strengthen as long as it appears the U.S. interest rate is in a rising trend. Look for falling commodity prices to decline further as long as Chinese growth shows no turnaround from its contraction. The effect will roll over and push the commodity currencies (Australia, New Zealand and South Africa) and emerging market currencies lower.
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Startups; Technology; Venture Capital
January 07, 2016 Posted by
Bruce Wallace, chief digital officer at Silicon Valley Bank, gave his fintech predictions for 2016.
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FX Outlook; Startups; Technology; Venture Capital; Asia; Europe; U.S.
December 17, 2015 Posted by
It is expected that 2016 will be an eventful year. It’s an election year. Headlines and swinging polls tend to create more volatility in the financial markets. Besides that, there are still economic headwinds and central banks are working through various fiscal dynamics. Three themes that will get much attention in the New Year will be the value of the euro, higher interest rates, and China’s inclusion into the reserve system.
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FX Outlook; Startups; Technology; Venture Capital; Asia; Europe; U.S.
December 09, 2015 Posted by
This edition of the FX Monthly Outlook includes details of several critical events of the first week of December: the ECB meeting, Fed Chmn Yellen’s comments and subsequent U.S. employment numbers, and the OPEC meeting; since they were all potential game-changers, and likely to set a new tone for 2016.
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Startups; Technology; Venture Capital
December 07, 2015 Posted by

Tracy Isacke, managing director of Silicon Valley Bank's corporate relationship group, shares her 2016 predictions for the global innovation economy.

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FX Outlook; Startups; Technology; Venture Capital; Asia; Europe; U.S.
November 24, 2015 Posted by
European Central Bank President Mario Draghi recently announced that there are still headwinds in the region and additional accommodation may be required. First, consumer prices in the 19-member euro zone have slipped in recent months and inflation is running well below target. The second problem: the most recent forecast from the European Commission expects GDP growth at 1.6% for 2015, and about the same level for next year and 2017.
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FX Outlook; Startups; Technology; Venture Capital; Asia; Europe; U.S.
November 19, 2015 Posted by
We had a busy month for the global financial markets with plenty of elections and central bank activities to influence global asset and currency valuations. Although the U.S. dollar rallied strongly in the second half of the month, it remained within the trading ranges against the major currencies that have been in place over the last few months. Emerging market currencies traded higher on the month for the first time since earlier in the year.
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Startups; Technology; Venture Capital
November 13, 2015 Posted by
Tracy Isacke, managing director of Silicon Valley Bank's corporate relationship management group, shares her thoughts on global innovation after a startup pitch event in Bratislava, Slovakia.
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Treasury Management; Technology
November 08, 2015 Posted by
At last week’s Fintech Mashup in New York City, Silicon Valley Bank brought together fintech entrepreneurs and investors to share their ideas about the future of financial services. The biggest takeaway: no question that financial services are ripe for innovation, but (take a breath) it’s not going happen overnight. We heard that true disruption in financial services is really just beginning, and it is going to be a long, bumpy road ahead. Fintech is a revolution in the making.
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Treasury Management; Technology
November 05, 2015 Posted by

Government regulation is top of mind among fintech innovators these days. In late September, I and several Silicon Valley Bank executives met with top financial industry policymakers in Washington, D.C. I did a Q&A with SVB Fintech Mashup host Shai Goldman, who asked me to share my views on how the regulatory landscape is evolving. Q: SVB President and CEO Greg Becker and you, in addition to other SVB executives, had meetings this fall with top officials at Treasury, Commerce and the Federal Reserve. How are they viewing fintech innovation? A: As new fintech ideas and old regulatory structures intersect, the policymakers are very interested, across the board, in learning more about what is happening. In fact, we traveled to Washington, D.C. because of interest from the Federal Reserve and Treasury, and we brought along several clients representing different fintech sectors. These entrepreneurs described how they are delivering financial services in new ways and why customer demand is growing. Q: How eager are they to start writing new rules? A: As you would expect, the recent financial crisis is still on regulators’ minds. However, I saw a significant appetite to learn more and saw a willingness to create constructive policy to encourage innovation. We are at an early stage in this discussion, and we will continue to encourage more dialogue between policymakers and industry. Fintech cuts across a lot of products and services, so no single regulator in Washington, D.C. is responsible for supervising it all. For example, the CFPB has jurisdiction over consumer-related issues, the Fed/OCC and FDIC oversee businesses from the banking perspective and the SEC considers financial market-related issues. Each agency has begun to evaluate the impact of fintech innovation, though they are at varying stages. One area that is drawing some attention is marketplace lending. For example, the U.S. Treasury has solicited public comment on this type of lending and has recently received over 100 letters . In late October, Antonio Weiss from Treasury gave a speech on marketplace lending that provides a good road map of how regulations may evolve. Q: Entrepreneurs and regulators typically look at the regulatory process with different mindsets. What do you wish regulators to understand from the point of view of entrepreneurs? A: Regulators should understand that entrepreneurs must move fast in a very competitive industry and they need answers quickly. I don’t think we can afford to miss this innovation window because Washington and the financial industry are still fighting battles from the last cycle. The U.K. and other countries are trying to outpace the U.S. to develop fintech hubs, so this is a real threat. Yes, we need to be responsible, measure for systemic risk and have appropriate consumer protections. These are all sound goals, but they should not come at the expense of innovation. Q: What do you wish entrepreneurs to understand from the point of view of regulators ? A: Entrepreneurs like to innovate, then engage. But they should understand that flying below the radar only works so long and then they would benefit from engaging with regulators. There are many categories of fintech that are now at this inflection point. I think fintech innovators should want to engage; it is in their long-term interest to have a voice in shaping the outcome of what we will see from Washington. It is better to have a seat at the table to help build a more favorable regulatory structure. The best companies in fintech will continue to distinguish themselves by being actively engaged with regulators. Smart engagement can be a competitive advantage, not a disadvantage. Q: If you could change D.C. thinking around fintech to make it more conducive to innovation, what would it be? A: There is a policy component to the fintech discussion that is not purely technical regulation. I am getting increasingly concerned by the coordinated efforts by government and industry in the U.K. to brand themselves the global center of fintech. For example, the U.K. government has changed tax policy to encourage seed stage investing, revised immigration policy to encourage highly skilled tech teams to come to the U.K. and opened innovation centers around the country. Senior U.K. government leaders are also planning to sponsor fintech focused trade missions. I am hoping that some area of the U.S. government sees these types of initiatives and decides to become a champion of the U.S. fintech sector.

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