Fintech Podcast Episode 131: American Odyssey - Exploring the U.S. State Boosting Fintech Growth with JobsOhio, Jumpstart, Akru, and OakNorth Bank
The American Midwest is quickly becoming a hub for fintech and insurtech companies, and Ohio is leading the charge. In a recent episode of The Fintech Show, industry leaders gathered to discuss the thriving fintech scene in the Buckeye State.
The discussion was moderated by Jim Marous and featured Ray Leach, CEO of Jumpstart, and Ron Rock, Managing Director of JobsOhio's Financial Services. Also in attendance were Rajesh Gupta, Chief Financial Officer at PNC Bank, and Mohsin Masud, founder of Ohio-based startup Akru.
JobsOhio, the entity represented by Ron Rock, acts as a catalyst for growth in the state, attracting companies such as Procter & Gamble, which established its headquarters in Cincinnati due to historical foundations and market opportunities. Columbus, Ohio, was chosen by companies like analytica USA for its central location, established research institutions, a strong life-science community, and investment-friendly sectors, providing a good environment for business networking and growth.
The focus of the discussion was on the attraction of Ohio as a location for fintech and insurtech companies. Mohsin Masud, founder of Akru, shared why he built his startup in Ohio, citing the state's supportive business environment and growing fintech ecosystem. Rajesh Gupta, CFO at PNC Bank, explained what it takes to set up a new bank in the US, providing valuable insights for entrepreneurs looking to establish their own financial institutions.
The conversation also covered the process of securing investment for fintech companies in the current climate. Jim Marous spoke to Ray Leach about how companies can get investment in the current climate, offering advice and strategies for navigating the investment landscape.
The episode aimed to find out why companies such as PNC Bank and Akru chose to set up in Ohio. Ron Rock, well-placed to explain why companies are setting up or moving to Ohio, provided insights into the state's business-friendly environment and growing fintech ecosystem, making a strong case for why Ohio is a good place to do business.
Overall, the discussion provided valuable insights into the fintech scene in Ohio and the steps required to set up a new bank in the US. For those looking to establish their own fintech or insurtech company, Ohio is definitely worth considering as a location.
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