Category: Banking/FinTech

Allectus Capital in Silicon Valley: Fintech Disruption and Innovation Trends

Here at SVIC we recently designed and executed a custom immersion program for investment firm Allectus Capital. Allectus is a great example of how any business can discover something new in Silicon Valley; even though the majority of the firm’s $300 million portfolio is in tech sector investments, its executives still found plenty of new insights into areas like blockchain and digital transformation during their trip to the bay area.   With Allectus based out of Sydney, Australia, the majority of its investments are in the UK and the Asia-Pacific region. So the company’s one-day immersion program with SVIC was ... Read more

Mobile OS Disruption: 3 Key Insights from the Surging Rise of Android [Video]

 In 2009, the Android mobile operating system had less than three percent of market share. Symbian had over fifty percent of market share. By the end of 2017, Android’s market share had soared to close to ninety percent while that of Symbian had tumbled to effectively zero.  This dramatic exchange in market share provides valuable insights for business leaders concerned about disruptive digital technologies. What key insights can be derived from this cautionary tale that is the Android/ Symbian Greek tragedy? 1. Do Not Ignore Edge-case Scenarios An edge case refers to any event that occurs at extreme (maximum ... Read more

Banking Disrupted: Collaboration with Fintechs

When Fintechs first started appearing, early views were that their disruptive approach would result in some form of a zero-sum standoff with conventional banks. Yet that winner-takes-all forecast has yielded to the reality of a more collaborative future: the top ten US banks have committed more than $4 billion in disclosed funding across 81 FinTech deals since 2012. But traditional banking models remain at risk. Consumer engagement with Fintechs is growing and it is widely expected that one of the big tech platforms like Google or Amazon will soon enter the market. At the same time, technology continues to evolve ... Read more

Banco Santander Mexico Sees Fintech Future in Silicon Valley

One day, three companies, and a deep dive into the Fintech-powered future: that was the executive immersion program in Silicon Valley for Banco Santander Mexico. Digital identities, open banking and mass payout platforms were all on the agenda. Each session provided the Santander team with fresh insight and ideas, that proved invaluable as the bank looks to enhance its customer experience and continues its push for digitalization. The first tour stop was IdentityMind, a software-as-a-service (SaaS) company which builds and maintains digital identities. Its platform provides identity-based risk management, fraud prevention and anti-money laundering services. For a financial institution like ... Read more

Going Customer-Centric: FinTech Lessons For Dimex Capital

Customer centricity, focusing on the right customers that drive most profits, is one of the strategies embraced as a mission by the most successful Silicon Valley companies. One of our 2018 clients, Dimex Capital from Mexico, came to Silicon Valley to learn how to enter new younger markets  – a challenge that is hard to overcome without going customer-centric and working closely with customers who have the most lifetime value. Dimex is a leading lending institution in Mexico, having over 100 branches and employing 1600 sales contractors around the country. Dimex’ target consumer is above 55 years old, though the ... Read more

Fintech Set to Break Records in 2018: Four Growth Areas

Disruption of banking by fintech is showing no signs of slowing. Of the many innovations now appearing, online credit scoring, peer-to-peer lending, digital wallets and open banking are among those making the biggest impact. They have all emerged as key drivers of the digital transformation taking place across the financial services industry. Earlier this month, a group of top executives from the Central Bank of Egypt came to Silicon Valley to explore each sub-sector in depth, as part of an executive immersion tour hosted by SVIC. For state agencies everywhere, including central banks, now is a crucial time to get ... Read more

Four Fintech Trends Threatening to Disrupt Legacy Banking

The impact of technology on financial services continues to be one of the biggest areas of growth and discussion in Silicon Valley and beyond. Fintech, as the sector is collectively known, encompasses a wide range of practices and ideas, each of which is threatening to legacy banking in its own way. Key Fintech trends on the horizon include greater use of artificial intelligence in everyday banking, more investment in blockchain projects and growing digitalization of financial services and back office operations. We had the chance to learn more about these developments last month, when SVIC hosted a tour of Silicon ... Read more

How To Get Governments to Talk About Blockchain

Every day, blockchain technology is being tested somewhere in the world by passionate engineers and entrepreneurs trying to figure out ways it can be applied to real life situations. One can already argue that blockchain is past the tipping point. It is no longer a question of if this technology will be adopted, rather how and when. The core underlying distributed ledger infrastructure and the development protocol layers required to develop apps on it have been established. Major tech titans like Oracle, IBM, and Alibaba are already using blockchain internally and have created blockchain enterprise offerings for their customers. Today ... Read more

Fintech Outlook: Why The Market Will Stay Hot in 2018

2017 was a record-breaking year for Fintech and 2018 promises to deliver plenty more of the same according to Augstin Rubini, a London-based financial industry strategist and general authority when it comes to all things related to the next generation of banking. Speaking at a webinar jointly hosted by the Professional Risk Managers’ International Association (PRIMIA) and the Silicon Valley Innovation Centre (SVIC), Rubini shared numbers showing that in 2017 $16.6 billion was invested in Fintech, a new annual record. That cash went to the more than 5,000 Fintech businesses operating today throughout the world. Among them, according to Rubini’s ... Read more

3 Industry Trends from CES

There was a buzz in the air at the Consumer Electronics Show in Las Vegas last week. Both large companies and startups filled the convention centers to show off and demo their new products. After spending a few days walking among the endless booths and talking to some guests and exhibitors three key trends became clear. 1. Vehicles will become connected This trend is best shown by Ford, who highlighted their transformation from being a car manufacturer to a software company developing a system to coordinate autonomous vehicles in city streets. During his keynote address, Ford CEO Jim Hackett announced ... Read more