Financial Technology in Georgia
FinTech (financial technology) is transforming how business is done in the financial-services industry. FinTech includes several technologies, such as Digital transaction management and mobile banking (which are part of its foundation), as well as crowdfunding and cryptocurrency.
Georgia is one of the leading states in the country for
financial technology. Seventy percent of digital transactions in the country are handled in the state. Georgia’s “Transaction Alley” is made up of 200 companies that specialize in data analytics services, information security, blockchain and banking.
Georgia also leads the way in FinTech education. The FinTech Lab at Georgia State University is among the first of its kind in the country. This lab facilitates interactions between students, educators and corporate partners in order to develop automated trading strategies, smart contracts and smart markets. These strategies can then be tested to determine their value for real-world businesses and consumers. Additionally, the University of Georgia has a FinTech certificate and MBA program areas; Columbus State University has a certificate program open to all majors and non-degree students; and the University System of Georgia has launched the Georgia FinTech Academy with the intention to diversify the industry through classes, events and projects that prepare students for FinTech-industry jobs.
The Center of Innovation can assist FinTech companies with the following:
- Being a reliable resource for companies looking to solve innovation problems and connect with existing industry
- Fostering connection between businesses, the government and academia
- Providing valuable insight into Georgia’s economy and the FinTech industry as a whole
