Inaugural FinTech Festival Brings Invest Atlanta to Singapore

Tuesday, November 15, 2016

Invest Atlanta Senior Vice President of Economic Development Kevin Johnson traveled to the inaugural Singapore FinTech Festival to seek foreign investment opportunities for Atlanta’s financial technology (FinTech) businesses. He was also there to explore possibilities for those businesses to expand abroad and to encourage foreign companies to look at Atlanta as a potential site for relocation or the creation of a new branch.

The festival, held from November 14-18, is being hosted jointly by the Association of Banks in Singapore and the U.S. Commercial Service, a division of the U.S. Department of Commerce.

Metro Atlanta is home to 90 FinTech companies employing 30,000 people, and thanks to the industry’s large presence, the region has become known as “transaction alley.” The American Transaction Processors Coalition reports more than 60 percent of U.S. FinTech companies are located in Atlanta, and 70 percent of credit card swipes in this country—85 billion transactions in total—flow through Georgia every year.

“The financial technology industry is one of those targeted industry clusters where we have a proven, significant competitive advantage,” said Johnson.

Johnson will be speaking on four separate panels about the industry’s growing presence in Atlanta and the resources and incentives available in the City of Atlanta to FinTech companies.

“I’ll talk about the close relationship FinTech companies have with educational institutions in metropolitan Atlanta, the curriculums those institutions are developing to support the industry, and the supportive ecosystem that exists here in Atlanta thanks to associates like the Technology Association of Georgia (TAG) and the American Transaction Processors Coalition (ATPC),” said Johnson.

Johnson noted the FinTech Festival provides Invest Atlanta with a wonderful opportunity to further that cooperation, possibly through a visit by Singapore’s corporate and government leaders to Atlanta to discuss future partnership opportunities.

“We want to work closely, both domestically and globally, with partners like Singapore that also have a strong FinTech industry presence,” added Johnson.