Fintech Companies See Regulatory Issues as Hurdle to Growth, according to SVB Survey
Summary
According to a survey recently released by Silicon Valley Bank, fintech company founders and investors expect regulatory issues to be the biggest obstacle to their success in 2016.The survey of 101 company founders and investors in the financial technology space was conducted at Silicon Valley Bank’s Fintech Mashup on November 3 in New York City.During a series of presentations and panel discussions at the event, top executives from companies such as Circle, InVenture, LearnVest and MasterCard and shared their insights in areas including alternative finance, digital currencies and commerce, API banking, payments, and compliance, among other topics.Impediments Nearly half of the survey respondents (43%) said regulatory issues were their biggest hurdle, followed by reticence by corporations to adopt new technology (24%), changing consumer behavior (18%), and access to funding (15%).Results were nearly evenly split between payments (23%), insurance and alternative lending (both at 20%).