Georgia has quietly become a nexus for the banking and financial technology (FinTech) community over the last 3 decades. With a concentration of major banks and supporting technology, infrastructure companies, the Atlanta metro area has become a prime center for innovation in the technologies and process innovations which have dramatically changed the landscape of how payments are effectuated.
Advances in creative debit card solutions, such as payroll cards and Flexible Spending Account disbursement cards, to Remote Deposit Capture solutions, innovative card terminals and Point of Sale Software have had their roots in startup companies as well as established firms such as NCR, First Data and Equifax – all based in Atlanta. The support of many of these firms together with Atlanta’s noted business culture of collaboration and multiple networking forums has contributed to the development and spin-off of many startups whose initiative and innovation have contributed greatly to leading the industry into the 21st century.
The presence of many incubators, of which the Advanced Technology Development Center (ATDC) of Georgia Tech and the StartUp Lounge are probably the best known, bodes well for the continued number of startups and the innovation which will continue to pave the way for new products and service offerings in the decades to come.
Most visitors to Atlanta expect the traffic and are surprised by the trees. Another surprise: in among the traffic and the trees, in a city known for a great business environment, Atlanta, Georgia is the country’s Giant Peach of FinTech and payment processing.
Lorne Greenfield, a serial entrepreneur with 19 startups to his credit, has been involved in the FinTech arena for almost 15 years introducing innovative ideas at all levels of the Payment industry.
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.