Trade Mission Explores Possible FinTech Partnerships

Friday, March 11, 2016

Invest Atlanta collaborated with the Mayor’s Office of International Affairs and United Kingdom Trade & Investment (UKTI) to organize Finovate 2016, a major trade mission that brought Georgia banking and financial technology industries to London, England in February of this year to explore business and partnership opportunities in that country with industry counterparts, international expansion advisory firms, and multi-national financial institutions, among other participants.

The mission recognized the substantial financial technology – or FinTech – profile raised by the United States and the United Kingdom, as well as Atlanta and Georgia. Together, the two nations have dominated the industry with a combined market value exceeding $60 billion, while Atlanta serves as the FinTech capital of the Southeastern U.S., with more than 70 percent of all U.S. payments being processed through FinTech companies here. Georgia, meanwhile, ranks third in FinTech revenues, behind New York and California, and hosted more than $4.4 billion in credit card transactions last year.

Invest Atlanta’s role in helping to create Atlanta’s FinTech presence has been considerable. It is the first economic development agency and one of only three such agencies in the Southeast designated as an Accredited Economic Development Organization by the International Economic Development Council.