Tag: Silicon Valley

Silicon Valley

Can Silicon Valley Business Models Work in FX?

It seems that increasingly, some FX firms want to adopt the business models deployed so successfully by the large technology giants that have emerged from Silicon Valley.

Banks talk about developing their single-dealer platforms to mimic the Amazon model of being able to supply everything that their customer needs within one platform.

At least one trading venue is talking about moving to the Facebook model of charging nothing for the actual technology platform that it provides, because it will instead derive profits from the data generated by that platform.

FinTech Boom Exposes Silicon Valley Naiveté

Fintechs from Silicon Valley are being hampered by their lack of understanding about how the incumbent financial services firms in the market operate, according to Rosario Ingargiola, founder and CEO of OTCXN.

Discussing the biggest barriers to adoption for fintech solutions, Ingargiola explains that the primary concern is usually related to how these solutions comply with the existing regulations in the market.

Specifically, he says that financial services firms want to ensure that the necessary Anti-Money Laundering (AML) and Know Your Customer (KYC) requirements are in place before they’ll even begin taking an in-depth look at the solutions being offered by fintech firms.