May 8, 2018   SOURCE: PR NewsWire

Financial Technology Report Shows Georgia Leads as Global FinTech Hub

Financial Technology Report Shows Georgia Leads as Global FinTech Hub

FinTech a Key Driver of State's Economy, Earning Nickname "Transaction Alley"

ATLANTA, May 8, 2018 /PRNewswire/ -- The Technology Association of Georgia (TAG), the state's leading association dedicated to the promotion and economic advancement of Georgia's technology industry, has unveiled its 2018 State of Georgia's FinTech Ecosystem Report.

The report, revealed at TAG's inaugural FinTech South event May 7-8 at the Mercedes-Benz Stadium in Atlanta, gives an assessment of Georgia's dynamic financial technology (FinTech) ecosystem, which has experienced continued growth and increased momentum as the world becomes increasingly dependent upon digital payment and card transactions.

Highlights from the report include:

    --  More than 38,000 FinTech specialists drive Georgia's FinTech ecosystem.
    --  The top 20 Georgia-based FinTech companies generate an estimated $72B in
        annual revenue.
    --  Some 57.7 billion U.S. purchase transactions are processed by
        Georgia-based acquirers, roughly two-thirds of the total volume.
    --  More than 120 FinTech companies are headquartered, or have significant
        presence, in Georgia.

The leaders of Georgia's technology community have spent nearly a decade convening, uniting and growing the FinTech sector into the powerful ecosystem that it is today," said Larry K. Williams, President & CEO of TAG. "Now 70 percent of all credit card swipes, debit card payments and gift card purchases go through Georgia-based companies. So many that we've earned the nickname 'Transaction Alley'."

Every two years, TAG FinTech, a professional society of TAG, produces the ecosystem report. Since the 2016 report, Georgia's FinTech ecosystem has surged, with growth in startups, companies and economic activity. The information is collected in conjunction with the Financial Services Innovation Lab at the Scheller College of Business at Georgia Tech and a survey is conducted of over 100 industry professionals.

The full 2018 State of Georgia's FinTech Ecosystem Report is available at: http://www.wheregeorgialeads.com/fintech/

About The Technology Association of Georgia (TAG)

TAG is the leading technology industry association in the state, serving more than 30,000 members.

TAG's mission is to educate, promote, influence and unite Georgia's technology community to foster an innovative and connected marketplace that stimulates and enhances Georgia's tech-based economy and fuels the innovation economy.

For more information visit the TAG website at http://www.tagonline.org.

To learn about TAG-Ed visit http://www.tagedonline.org/.

Technology Association of Georgia
Julie Bryant Fisher
julie@tagonline.org
(404) 920-2023

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SOURCE Technology Association of Georgia