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In Ohio, a strong financial services backbone, a growing and dedicated talent pool, and lower labor and operating costs than comparative metropolitan areas provide fintech companies the foundation to move forward.
If you want to excel in the financial evolution, it must be someplace where there is a mix of established knowledge and a pursuit of innovation. That’s Ohio. Ohio is close to major financial and insurance hubs like New York City. The state has an abundance of established industry-leading financial and insurance companies as well as scale-ups that exude a forward-thinking financial mindset. In August 2018, Ohio demonstrated its commitment to a fintech future by passing legislation that protects firms developing innovative uses for blockchain technology.
In Ohio, you can:
- Be in a state that has more financial and insurance headquarters than any other location outside of New York City, including Progressive Insurance, KeyBank, Huntington and Fifth Third Bank.
- Hire sophisticated, tech-savvy talent to power your innovations in rising tech cities such as Cincinnati, Columbus and Cleveland, which are consistently ranked among the top cities for attracting millennials.
- Have the success of investing in coastal cities without the cost, as rent, office space and operating costs are lower. Therefore, every dollar goes further, resulting in more capital to invest in R&D, expansion and overall company growth.
- Thrive in the same fintech environment that supports global fintech companies including Klarna, Worldpay and Alliance Data.
The JobsOhio $100 million Research & Development (R&D) Center Grant is available to help companies pursue financial and insurance innovations like regtech, digital banking, insurtech, blockchain, AI and risk management. Ohio’s resources and assets create an environment conducive to financial innovation, leadership and industry-defining action.
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London Stock Exchange launches U.S. division of ELITE – a global business support program – in Ohio
State’s ease of doing business and strong economy attracts the world-renowned program, bringing best growth practices to small and medium-sized businesses
JobsOhio Provides Support to JPMorgan Chase for New Fintech R&D Innovation Space
JobsOhio awarded an R&D grant to JPMorgan Chase to support the creation of a new financial technology (fintech) R&D innovation space at The Point at Otterbein University. The space, which will create 75 to 100 full-time jobs, will foster innovation in fintech, give students the opportunity to engage in R&D, and support the commercialization of new ideas.
Insurance Industry Showing Strong Innovation in Ohio
The insurance industry is undergoing a major transformation, and Ohio is leading the revolution. Emerging technologies, such as big data, wearable devices and artificial intelligence, are changing consumer expectations and preferences and forcing the insurance industry to change with them.
Columbus-Based Root Insurance Announces Significant Expansion in Ohio
Root Insurance is a fast-growing insurtech company that provides customers a personalized car insurance rate based primarily on their driving behaviors. Founded in Ohio in 2015, Root Insurance is now available in 17 states. To meet the growing demand for its product, Root recently announced a significant expansion in Ohio. The company credits its choice to reinvest in Columbus to the quality of the region’s workforce and the city’s rapidly growing reputation as a tech startup hub.
Paycor
Paycor is a perfect example of a fintechcompany that transformed itself from a small homegrown Ohio startup into a large, fast-growing and innovative human resources and payroll solutions company with customers in all 50 states. Due to Paycor’s rapid growth, it outgrew its relatively new office building in Norwood.
Fast-Growing Fintech Company Matic Expands in Columbus
Matic is a technology-driven insurance agency using fintech solutions that match mortgage lenders with homeowners who need insurance quotes. The company is confident that Columbus’s fintech talent, entrepreneurial climate and vibrant economy will continue to fuel the company’s escalating success.