Collaborative report looks at the future of fintech in Delaware

What does the growing presence of financial technology firms such as Acorns, Marlette Funding, College Ave Student Loans and SoFi mean for Delaware?

A new white paper on the fintech industry in Delaware is sort of the first draft of how to answer that question.

A collaboration between the University of Delaware’s Institute of Public Administration, the Delaware Prosperity Partnership, and the First State Fintech Lab, the report looks at the past, present and possible future of fintech — a catch-all label for a range of tech firms innovating in the financial sector.

Here are some key takeaways from the 40-page report:

• Delaware accounted for at least $50 million in fintech investment between 2013 and 2018.
• Wilmington has nearly 170,000 financial services workers and more than 100,000 technology workers across the metropolitan labor market
• Among the top 20 financial services firms with the most job openings in 2018, there were approximately 2,500 open tech positions.
• Financial services firms with at least 250 employees accounted for 91 percent of statewide financial services employment in 2017, up from 88 percent in 2007.

Read the full report here: https://choosedelaware.com/wp-content/uploads/sites/2/2019/06/Delaware-Fintech-Future-060519-web.pdf