At last week’s Venture Atlanta conference, the front-and-center focus was the rise of financial technology — or FinTech.
The sector has grown tremendously and is a booming part of the Georgia technology scene. Georgia is home to the 60 percent of the companies in the industry. It’s why, as Forbes magazine noted in a recent post, Worldpay US made a $1 million gift to Georgia Tech this year to launch a FinTech accelerator at the Advanced Technology Development Center.
The FinTech focus makes sense for Atlanta since 60 percent of industry companies are based in the metro area and 70 percent of all U.S. payments processed run through Georgia’s “transaction alley,” according the American Transaction Processors Coalition.
Growing the sector and supporting entrepreneurs with innovative FinTech ideas is why Tony Catalfano, Worldpay US’ president and CEO, committed the $1 million to the FinTech accelerator at ATDC.
“The ATDC has empowered scores of entrepreneurs to grow their ideas into successful companies,” Catalfano said in announcing the gift in March of 2015. “Our partnership is about investing in the smartest, most creative innovators so the next generation of financial technology will be built right here in Georgia, while at the same time leveraging our global resources and role as leaders of modern money to move the entire industry forward in states across the country.”
Read the Forbes piece at this link.