The newly-formed Detroit FinTech Association has plans to grow the existing culture of technology-driven financial services throughout the city and its status as a technology hub. Created by a group within Benzinga, a financial media company headquartered in Detroit, the FinTech Association serves to connect, find, and promote financial technology companies in the region.
“For a long time Benzinga has connected FinTech companies around the globe, country, and especially here in Detroit,” says Jason Raznick, founder and CEO of Benzinga. “We saw other cities solidifying similar ecosystems — Boston, New York, Chicago, and St. Louis — and (we wanted) to shine a spotlight on the incredible FinTech scene forming right here in Detroit.”
Specifically, the Detroit FinTech Association aims to:
- Educate members on emerging trends and technologies in financial technology
- Serve as a research and information hub for members
- Establish outreach programs to provide educational programming for youth in underserved communities
- Connect financial technology entrepreneurs and innovators with investors
- Create a talent hub, pairing the best technology talent with the best financial technology firms in the region
- Partner with the state of Michigan to recruit the best financial technology firms to the city, region, and state
Companies opening in Detroit join an impressive lineup of financial technology companies, including Quicken Loans and its fully digital Rocket Mortgage, Rocket Loans, In-House Realty, and others.
“As Detroit continues to grow as the center of our country’s FinTech revolution, the work that the Detroit FinTech Association is doing is critical. Not only for Detroit and the region, but also for the multiplying FinTech companies that leverage the specialized FinTech environment that can only be found in Detroit,” says Dan Gilbert, founder and chairman of Quicken Loans.
“There are no greater opportunities for FinTech startups and other financial technology companies than in Detroit. The talent is here. The experience is here. The venture capital is here. The energy is here. And the best FinTech ecosystem, which is anchored by the largest online lender in the world and its 17,000 FinTech employees, is right here in the middle of all of it.”
The Detroit FinTech Association is partnering with Michigan Economic Development Corp. to create an entrepreneurial environment throughout metro Detroit for financial technology companies. It will also align with the Michigan Department of Insurance and Financial Services and assist vendors in arranging presentations for national commissioners. More information can be found here.