Partner Article

Do we need more sector specific banks?

Silicon Valley Bank have opened its first branch in the UK, in a move which could further boost the UK’s growing reputation in the technology sector.

The Bank is said to have backed more than half of all venture-capital technology and life science firms in the US, and will provide a range of financial services including current and deposit accounts, loans, cash management services and currency exchange.

This news will no doubt be welcomed by technology firms across the UK, and could help to boost confidence within the sector when the first success stories begin to filter out of the Bank.

The arrival of the Bank also raises the question of sector specific lenders. Expert bankers understand the businesses they are dealing with, making it easier to judge viability, while the firms looking for backing may be more forthcoming if they feel they can sell their idea easily.

So could sector specific banks raise business confidence and encourage lending? Tell us your thoughts.

This was posted in Bdaily's Members' News section by Ruth Mitchell .