Eight new members to help public-private partnerships expand and strengthen the Fintech ecosystem in Massachusetts
BOSTON, MA / ACCESSWIRE / March 30, 2023 / After a successful year of launching new event programming aimed at promoting fintech in the Commonwealth, has Lots of Fintech Hubs, a public-private partnership dedicated to making the state a global leader in fintech, today announced a recent expansion of its membership. Lead by M&T Bankthe newest class features world-class academic institutions and some emerging fintech startups driving innovation in various industries.
M&T Bank sees opportunity for partnership and community in Massachusetts
M&T Bank’s aim is to be a “locally focused, digitally forward” bank for local communities. A key component of this strategy is building high-quality partnerships – fintechs among them – that help clients achieve their financial goals and align with the values of being a community first. As a result of M&T Bank’s recent acquisition of People’s United Bank, it is now highly engaged and focused on supporting the communities in its New England footprint, including the fintech community in Boston and greater Massachusetts.
“Massachusetts offers a rich ecosystem of peers, startups and academic institutions to engage with key trends, technological developments and market forces that are likely to impact banking in the future,” said Claire Verville, Senior Vice President and Ventures Development Manager at M&T Bank. “We know we are in good company in Massachusetts to learn from others and position our bank for the future. We also see great potential in having access to talent and new technology that will help shape the future of banking.”
Babson College, Stonehill College and UMass provide access to talent and ideas
Massachusetts has a high concentration of world-leading institutions of higher learning, particularly in technology, business and financial services. With the addition of Babson College, Stonehill College and UMass Amherst, Mass Fintech Hub and these institutions will benefit from supporting event programming, such as career fairs, mentoring programs and bootcamps that help students build skills and make connections in fintech that lead to pathways to careers in these areas. They also provide a valuable reservoir of talent to the fintech and finance industries looking for knowledgeable college graduates to build their companies. The universities see great opportunities to promote their school offerings and benefit from the network effect in marketing through social media and other means with the Mass Fintech Hub.
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New startups See Plenty of room for growth in the Commonwealth
Massachusetts has no shortage of homegrown talent and startups, but in recent years, after establishing the Mass Fintech Hub, it has become a stronger magnet for fintech coming from other regions as far away as the UK and from other hot fintech areas, such as Silicon Alley. The startup members also see an opportunity to be part of an emerging fintech community and facilitate connections with industry leaders and leading investors.
The new fintechs that have joined the Mass Fintech Hub include:
- AlphaStream: The UK-based company customizes experiences for financial platforms to empower and inform investors with information that is relevant and timely. Its US headquarters are in Boston, which gives it access to an extensive network of professionals, students and the fintech ecosystem in the Commonwealth.
- B4B payments: Also based in the UK, this global embedded payment and instant card issuance fintech has established an office in Wellesley, which has benefited the organization and its growth through the office’s proximity to talent, research, established financial services companies and investors.
- DocFox: Originally a South African company, this fintech expanded to the US and established its home office in Boston. DocFox is now growing its US-based team out of a new office space in Beacon Hill, providing banks, credit unions, crypto companies and B2B fintechs with automated business account opening solutions.
- TomorrowX: This UK-based software company offers an open digital delivery system, supporting companies with legacy technology properties in highly regulated industries and startups building out their technology stacks.
“Mass Fintech Hub drives collaboration around issues critical to the sector, from workforce development, training, investment, to research,” said Pat Larkin, director of the Innovation Institute at MassTech, a public economic development agency for Massachusetts. “The new members include a leading national bank, three of our top universities from across the state, and several global startups, demonstrating the spectrum of interest in this work. The strength of the Hub’s mission is to develop an inclusive, collaborative and cutting-edge fintech sector across the country.”
To join the Mass Fintech Hub, please visit: https://massfintechhub.com/get-involved/
About Mass Fintech Hub
The Mass Fintech Hub is a public-private partnership comprising a network of Fintech leaders, financial experts, academics, public sector leaders and venture capitalists empowering Fintech startups to achieve success worldwide. The initiative supports the Fintech ecosystem through programs that attract investment, talent, collaboration and encourage regulatory innovation. The Mass Fintech Hub stimulates activity and connections, creates opportunities and aligns key stakeholders for a better entrepreneurial environment that supports Fintech startups at all stages of development. Learn more here: www.massfintechhub.com/contact-us/
Contact information:
Stephen Sumner
Caliber Business Advisors
[email protected]
SOURCE: FinTech Sandbox
