US Innovation Market Guide on Financial Technology

Abstract

The technological context in which financial markets and actors within operate have been transforming rapidly over the past decade. US is positioned as the Global leader in FinTech, with one of the most dynamic innovation ecosystems. Do you want to find out more about the FinTech innovation ecosystem in the US? Are you looking to expand your FinTech business to the US? Then you are at the right place!

The US Innovation Market Guide on financial technology will guide you through the US FinTech innovation ecosystem, supporting you in the identification of the US leading regions from the innovation and market perspectives.

From the innovation perspective, the Guide gives you clear guidance on US innovation ecosystems including the major US FinTech innovation hubs, innovation facilitators and leading industry-related RDI centers.

From the market perspective, the Guide provides an overview of the US FinTech market and advises you on how to understand the different segments within the market, including the market opportunities and barriers.

This guide is also useful to expand your network of contacts of important stakeholders of FinTech in the US. It presents an extensive list of innovation and market associations as well as most relevant, leading events related to financial technology.

Finally, this guide will provide you with an overview of important US governmental initiatives related to the FinTech, both federal and state levels. On the Federal level, an overview of key programs and opportunities is given, including those that come from National Science Foundation (NSF), Small Business and Administration (SBA) The Consumer Financial Protection Bureau (CFPB), Securities and Exchange Commission (SEC) and the US Department of Treasury. On the state level, you have a chance to learn about initiatives coming from a sample of states that include Arizona, Utah and Wyoming.

Therefore, this guide works perfectly as a handy guide for you to grow your business and develop your network on FinTech in the US!

This guide was published in September 2020 and updated on September 2023 and is available in English. This guide has 79 pages and 4 Annex pages.

Table of Contents

List of Abbreviations (page 12)

In this section the list of Abrreviations used in this report are presented

1 Introduction (page 15)

The US Innovation Market Guide on Financial Technology enables you to understand the US leading regions on financial technology from the innovation and market perspective

2 US innovation ecosystem (page 19)

2.1. Innovation Hubs (page 20)
2.2. Innovation facilitators (page 31)
2.3. Industry related RDI centers (page 36)

3 US market landscape (page 42)

3.1. Market overview (page 43)
3.2. Leading regions (page 44)
   3.2.1. Financial Services Industry (page 46)
   3.2.2. Software and IT services industry (page 50)
3.3. Market considerations (page 53)
   3.3.1. Opportunities (page 53)
   3.3.2. Barriers (page 54)

4 Recognized networks and events (page 55)

4.1. Innovation and market networks/associations (page 55)
4.2. Innovation and market events (page 61)

5 US innovation initiatives and programs (page 65)

5.1. Federal initiatives/programs (page 66)
   5.1.1. National Science Foundation (NSF) (page 67)
   5.1.2. Small Business Administration (SBA) (page 71)
   5.1.3. The Consumer Financial Protection Bureau (CFPB) (page 73)
  5.1.4. Securities and Exchange Commission (SEC) (page 74)
  5.1.5. US Department of Treasury (page 74)
   
5.2. State initiatives/programs (page 75)
   5.2.1. Arizona: FinTech Sandbox Program (page 76)
   5.2.2. Utah: FinTech Sandbox Program (page 77)
   5.2.3. Wyoming: Financial Technology Sandbox Program (page 77)

6 Observations (page 78)

Annex 1: Summary of the US Federal and State Funding Initiatives and Programs (page 80)