It’s no secret that Atlanta is quickly gaining a reputation as the payments capital of the U.S. Now that status is cemented on the worldwide stage through a partnership with London called P20 — the first Fintech transatlantic partnership of this size. The first meeting, which will occur this fall, will bring together 120 bankers, political leaders, and regulators to discuss their roles in the Fintech industry and the world’s economy.
“The P20 partnership provides a first-of-its-kind platform for Atlanta to elevate its profile as the leading city for the FinTech and payments processing industry as it pairs with the known leader of financial services, London,” says H. West Richards, executive director of the American Transaction Processors Coalition (ATPC).
But how will this partnership directly affect the Atlanta economy and its Fintech ecosystem? “More visibility for ‘Transaction Alley’ will lead to more payments and FinTech companies realizing the hub here and moving their operations to join the other major players, along with supporting a burgeoning startup scene,” says Richards.
At the inaugural meeting, the group of influential leaders hopes to tackle issues in regulation, innovation, cybersecurity, education, and financial inclusion around the world. The partnership, and future events, will bring essential knowledge back to Atlanta and help scale our current Fintech ecosystem.
“The U.K. has pioneered some of the most business-innovation-friendly regulatory frameworks that impact financial services. For instance, the U.K. has successfully deployed the use of innovation sandboxes to generate progress in the industry, and we hope they can influence our country’s leaders to adopt that same attitude to spur growth,” says Richards.
While London will host the inaugural event in October 2017, the conference will move to Atlanta in 2018 and then rotate between the two cities.
“Atlanta is the perfect financial and transaction sectors partner for London, and the P20 is a reflection of our commitment,” said Mark Garnier MP, Parliamentary Under Secretary of State at the UK Department for International Trade in a press release.
Inline image via ATPC.