Georgia is 3rd in the nation, just behind New York and California in FinTech revenue. Georgia FinTech companies have produced more than $83 billion of shareholder value since 1995 and revenues are more than $34 billion annually. Here, there is a convergence of three key sectors: finance, IT, and software, all of which have a strong presence in Atlanta, along with an abundant IT, software and financial labor force. According to the American Transaction Processing Coalition (ATPC), 70% of all U.S. payments are processed through Georgia’s ‘Transaction Alley.’
Atlanta, along with the surrounding areas of Georgia, has evolved to become the epicenter of a growing segment of the financial services industry – a sector often known as Financial Technologies or FinTech. This sector encompasses the product and service companies that support the technology needs of the financial services industry and, ultimately, the payment-processing infrastructure of the economy.
The FinTech industry includes; Trade Payments, Electronic Billing & Presentment, Retail Banking Solutions, Capital Markets, Identity/Analytics/Risk, Prepaid/Loyalty & Points, Gateways/Alternative Payments, and Card Processing/POS.