Atlanta has been a medical, startup and transportation technology hub for years, but how about FinTech?
Atlanta, dubbed “Transaction Alley” is home to more than 60% of the nation’s FinTech companies, and they hold their own with other FinTech companies around the world. By working together to build partnerships, the FinTech economy in Metro Atlanta continues to thrive. As the industry gears up for Money 20/20 next week in Las Vegas, which is the world’s largest payments and financial services innovation event, lets take a look at their main initiative and how startups can benefit.
Their “Adopt A Company” initiative, now in its third year, is just one example of a key partnership, established and led by FinTech Atlanta and the Metro Atlanta Chamber, who continue to work together to reinforce the advantages for startups and existing businesses alike. A partnership like this helps companies and the FinTech ecosystem thrive because it connects established Georgia companies with a local startup for Money 20/20. How the partnership works, is established companies, like TSYS, “adopt” a startup and provide them with a grant to cover costs of attending the show. In addition, the corporate sponsors meet with their adopted startup before the show, strategizing how to make the most effective us of their time while on the ground. While onsite, some startups spend time in their sponsor’s booth, while others plan strategic meetings with clients and prospects the company has helped set up. This year, TSYS decided to partner with TrustStamp, who are quickly establishing themselves as a leader in the biometrics field and signaling to the FinTech industry that Atlanta’s cyber security ecosystem is thriving.
Karim Ahmad, executive vice president of product and innovation at TSYS, said the company is proud to be part of an innovative community that is dedicated to supporting local FinTech businesses of all sizes. “We view this sponsorship as a unique opportunity to support the community and the startup ecosystem, while raising the visibility of Atlanta’s “transaction alley” at the largest FinTech event in the country. This initiative is important to TSYS because it’s Atlanta supporting Atlanta and coming together as a united industry.”
Being “united” is the key for success in the FinTech community.
“From the outset just under two years ago, we found fantastic mentors and partners in the local financial services community,” said Andrew Gowasack, CEO and co-founder of Trust Stamp. “We were thrilled when one of the most revered financial companies in the state, with their decades of experience, offered to sponsor us because it validates we are addressing a critical need in the market.”
Atlanta’s FinTech companies include: First Data, NCR, Worldpay and Global Payments – established the region as the World FinTech Capital.
“From logistics companies and airlines to retailers and restaurants, all companies depend on financial technology to power transactions quickly and securely every day,” said Barry McCarthy, executive vice president, head of network and security solutions at First Data, and chairman of FinTech Atlanta. “The collaboration between the public sector and the private sector in Atlanta has enabled the city to emerge as the global FinTech capital, bringing together companies of all sizes to help advance commerce not only in the city but also in the industry as a whole.”
It’s mentoring at it’s best.
Established Georgia companies “adopt” a startup, providing them with a grant of $5,000 to cover costs of attending. In addition, corporate sponsors meet with their adopted startup before the show, strategizing ways to make the most effective use of their time on the ground. Some startups spend time in their sponsor’s booth, while others plan strategic meetings with clients and prospects the sponsor has helped set up. This year, startups benefiting from the partnership include Authomate (sponsored by FIS), Monotto (sponsored by First Data), Trust Stamp (sponsored by TSYS) and Wela (co-sponsored by Accenture and SunTrust Bank).
startups have time to mix privately with established business leaders at a CEO dinner, creating open channels for mutual support. During Money20/20, the region will also host Atlanta’s Transaction Alley Reception, an opportunity for several hundred business leaders and guests to mingle and network.
One year after debuting the launch of FinTech Atlanta at Money20/20 2016, the region continues to have strong representation on stage and in the expo hall, as well.
This year’s speakers from Atlanta include Andrew B. Morris, Money20/20; Kathryn Petralia, Kabbage; Bruce Lowthers, FIS; Adam Roseman, LateShift; Andrew Gowasack, Trust Stamp; Christian Ruppe, Monotto; Kim Goodman, Worldpay US; Esther Pigg, FIS; and Simon Black, PPRO.
Exhibitors include Bridge2 Solutions, CAN Capital, Equifax, FactorTrust, Features Analytics,
Featurespace, Feedzai, FIS, First Data, Fiserv, IDology, Ingenico, LexisNexis Risk Solutions, NCR, PPRO, TSYS, Sage Payment Solutions, TriNet, UL Transaction Security and Worldpay. Sponsors from or with a Georgia presence include Accenture, Bank of America Merchant Services, Bridge2 Solutions, Deloitte, EY, Equifax, Featurespace, Federal Reserve Bank, Feedzai, First Data, Fiserv, Factor Trust, Features Analytics, FIS, FinTech Atlanta, IBM, IDology, InComm, InfoSys, Ingenico, LateShift, LexisNexis, NCR, PPRO, Pivotal, Sage Payment Solutions, TSYS, TriNet, UL, Vantiv, VMware and Worldpay.
Learn more about FinTech in Atlanta at: www.fintechatlanta.org.