Stephane Dubois, CEO of Xignite, provides his perspective on the difference between fintech founders and investors on the east and west coast.
While fintech brings together Wall Street and Silicon Valley and creates a new space influenced by the forces of financial services and disruptive technology, there are clear differences between these two main centers of activity. Compared with its counterpart in the West, New York’s Silicon Alley traditionally takes a backseat in what the industry considers to be “pure technology.” But when it comes to fintech, it has an undeniable advantage as the finance capital of the world. ...As a provider of financial market data APIs, we interact a lot with fintech companies on both coasts. As we become more familiar with how they operate, we have begun to notice patterns and contrasts. As the number of fintech startups grows, trends emerge in these companies’ operational strategies, and today we see three main traits that differentiate the valley from the alley: