DETROIT – Jason Raznick is known around Detroit as the founder and CEO of Benzinga, a financial media outlet that in a few short years has grown into a multi-million dollar media empire. Now he hopes to highlight other financial services companies in metro Detroit with his latest project, The Detroit FinTech Association.
“For a long time Benzinga has connected FinTech companies around the globe, country and especially here in Detroit,” said Raznick. “We saw other cities solidifying similar ecosystems – Boston, New York, Chicago, St Louis – and want to shine a spotlight on the incredible FinTech scene forming right here in Detroit.”
Raznick also admitted creating a higher profile FinTech ecosystem in metro Detroit also will help him find the experienced financial professionals he needs to continue to grow his business.
“One of the challenges I’ve had is hiring people with financial experience,” he said. “We have to attract more financial talent to Michigan. We need to gather more people and make sure the world knows about it and then hiring talent becomes easier.”
By building a financial ecosystem, it also answers the question he often hears from potential recruits: What happens if this doesn’t work out? What options would I have in metro Detroit at other FinTech companies?
The Detroit FinTech Association aims to:
· Educate members on emerging trends and technologies in FinTech
· Serve as a research and information hub for members
· Establish outreach programs to provide educational programming for youth in underserved communities
· Connect FinTech entrepreneurs and innovators with investors
· Create a talent hub, pairing the best technology talent with the best FinTech firms in the region
· Partner with the State of Michigan to recruit the best FinTech firms to Michigan and city of Detroit
Companies opening in Detroit join an impressive line-up containing the most influential FinTech leaders in the country including Quicken Loans and its fully digital Rocket Mortgage, Rocket Loans, In-House Realty and many others.
“As Detroit continues to grow as the center of our country’s FinTech revolution, the work that the Detroit FinTech Association is doing is critical. Not only for Detroit and the region, but also for the multiplying FinTech companies that leverage the specialized FinTech environment that can only be found in Detroit,” said Dan Gilbert, Chairman and Founder of Detroit-based Quicken Loans, the nation’s 2nd largest residential lender.
“There are no greater opportunities for FinTech startups and other financial technology companies than in Detroit. The talent is here. The experience is here. The venture capital is here. The energy is here. And the best FinTech ecosystem, which is anchored by the largest online lender in the world and its 17,000 plus FinTech employees, is right here in the middle of all of it.
The Detroit FinTech Association is partnering with the Michigan Economic Development Corporation to achieve its goals and create an entrepreneurial environment in Detroit and throughout Michigan for FinTech companies.
Additionally, the Detroit FinTech Association is aligning with the Michigan Department of Insurance and Financial Services. This partnership will enable FinTech entrepreneurs to receive in-person, one-on-one counseling related to laws and regulations that may affect their business.
The Detroit FinTech Association will serve as a conduit to the Department of Insurance and Financial Services office and assist vendors in arranging presentations in front of national commissioners.