Metro Atlanta Chamber and American Transaction Processors Coalition launch new fintech taskforce

Its purpose is to develop a strategy to grow and sustain the financial technology, or FinTech, industry in metro Atlanta. “Growing jobs and attracting talent is central to our mission, and metro Atlanta is a natural hub for FinTech,” said MAC President and CEO Hala Moddelmog. “The new FinTech Task Force will serve as a powerful catalyst for growing and sustaining the region’s financial technology ecosystem and adding jobs to our economy.”

The effort is modeled after MAC’s successful Mobility Task Force that launched in 2012, and will have three main goals: attract and grow companies in the FinTech industry and develop a skilled workforce and grow innovation.

“I’m honored to accept this role and responsibility to make sure Atlanta remains the center of financial technology and service innovation,” said Catalfano, who also chairs the ATPC. “I look forward to teaming with other business leaders to develop strategies that spur development, attract investment and grow the most capable FinTech workforce in the country.”

FinTech is a fast-growing industry in metro Atlanta. More than 40,000 employees work for 70 companies in the metro area, generating USD 30 billion in revenue, according to the ATPC. Additionally, 85 billion transactions, or more than 70% of the more than USD 4 trillion in US credit card swipes, debit card payments and gift card purchases go through Georgia-based FinTech companies.

“Georgia’s Transaction Alley is the FinTech capital of the world and we need to work hard to keep it that way,” said H. West Richards, the executive director of the American Transaction Processors Coalition. “A focused plan to invest in people and generate investment in innovation will spur Transaction Alley’s growth and protect this vital Georgia industry. I believe one day we make look back on this initiative as the spark that helped to shape Georgia’s future as the next financial industry powerhouse to arrive on the world stage. We thank the Chamber for acting on this important need and look forward to our partnership.”