Chancellor Steve Wrigley and the Board of Regents of the University System of Georgia (USG) today announced the formation of the Georgia FinTech Academy. The academy is a statewide initiative to create a talent pipeline for Georgia’s fast-growing financial technology (fintech) business sector.
Fintech, a segment of the financial services industry, uses new technologies to lower the costs and decrease time of financial transactions. In Georgia, more than 40,000 people are employed in fintech, which generates more than $72 billion in annual revenue. Continued growth and expansion of Georgia’s fintech sector is predicated on meeting an escalating demand for talent, including producing 5,000 new hires by 2020 – 95 percent of whom must possess industry-specific functional experience.
Fintech is one of six sectors identified by Gov. Nathan Deal’s High Demand Career Initiative.
“When we released the College 2025 report, we meant what we said about preparing graduates with innovative approaches,” said Steve Wrigley, chancellor of the University System of Georgia. “The Georgia FinTech Academy is an innovative response to the call from the fintech industry for more and better workers. With the strength of all 26 institutions of the University System of Georgia behind it, I believe fintech will see immediate results from this new program.”