Florida governor announces initiative to attract FinTech companies

Florida officials have launched an effort designed to encourage the start, relocation, and expansion of financial technology (FinTech) companies within the state.

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Florida Gov. Ron DeSantis made the announcement Monday with Chief Financial Officer (CFO) Jimmy Patronis, Department of Economic Opportunity (DEO) Executive Director Ken Lawson, Mayor Lenny Curry and business and community leaders from the Jacksonville area.

“From day one, we’ve made it a priority to create a regulatory environment that provides opportunities for businesses in the financial technology and banking sectors to thrive without being impeded by high taxes and burdensome regulation,” DeSantis said. “The initiatives demonstrate that we are committed to making Florida the top destination for FinTech companies to grow and succeed.”

DeSantis is directing DEO and Enterprise Florida, Inc. (EFI) to expedite the review of Florida Job Growth Grant Fund proposals providing workforce training programs in the financial services industry, with a focus on FinTech skills training; DeSantis and Patronis announced they plan to pursue legislation to create a regulatory sandbox for FinTech companies in Florida; and DeSantis and Patronis revealed the Office of Financial Regulation (OFR) is a signatory of the American Consumer Financial Innovation Network (ACFIN) – adding the purpose of this coalition is to facilitate consumer-driven innovation in markets for financial products and services through increased coordination among federal and state officials.

“I’m proud to partner with Governor DeSantis today as we are focused on fostering an environment to support growth and innovation here in Florida through FinTech,” Patronis said. “We must ensure common-sense regulations are put in place to guarantee a stable market that protects consumers. To the global financial system—the Sunshine State is open for business.”