Ohio Marked Year of Fintech Innovation and Growth at Money20/20 Conference

For Immediate Release:
October 24th, 2018
NEWS RELEASE

Columbus, OH— At this week’s 2018 Money20/20 conference in Las Vegas, Nev., JobsOhio, the private economic development corporation for Ohio, showcased the momentum of Ohio’s financial services sector that just became the fifth-largest financial services economy in the United States. Money20/20 annually brings together more than 10,000 attendees to focus on innovations to provide simpler, fairer, faster and more inclusive financial system for individuals, businesses, and society as a whole.

The most concentrated financial center in the United States outside of New York, Ohio is home to the headquarters of Huntington Bank, Key Bank, and Fifth Third Bank, as well as insurance brands like Nationwide and Progressive. Global players including Worldpay, Klarna and Alliance Data also call the region home.

Valentina Isakina, JobsOhio managing director for financial institutions, highlights that Ohio’s central location, eastern standard time zone, tech-savvy talent and significant operational leverage provide the secret sauce to success for its large corporate base and a thriving fintech sector.

“The world is in a highly competitive environment for innovation resources, their sustainability, and the right ROI right now,” said Isakina. “It forces both large corporations and fintechs to look beyond the obvious. The smart money that do their homework have already discovered Ohio and are using its assets to their strategic advantage. Money20/20 was great platform to bring this opportunity to the forefront of innovation agenda for global players,” said Isakina.

Just this year, the state reached new heights in its growth and innovation accomplishments:

• Forbes named Ohio twice on its list of Top 10 Rising Cities for Startups, the only state to appear twice on this highly coveted list.
• The London Stock Exchange took note of the state’s economic growth in October choosing Ohio as the first place to enter the United States with its ELITE
• In September, JPMorgan Chase announced a unique partnership with JobsOhio, Otterbein University, and the City of Westerville to establish a fintech research and development center on the campus of the school.
• In August, Ohio adopted legislation recognizing the use of blockchain technology to save and secure electronic records in an array of industries, from financial services to supply chain management, real estate and medical records.