Want to Vet a Business Idea? Why Not Run It By the Buyers?


Run it by the Buyers (RIBTB) events, organized by FinTech Atlanta, convene large Georgia-based corporations and early / mid-stage fintech companies around a particular industry theme. The stated intent is to focus on key industry issues, opportunities, and challenges, with the goal of fostering commercial collaboration between large corporations (Buyers) and promising young fintech companies building innovative new products, solutions, and services (Sellers).

 

The events are designed to support a key tenet of FinTech Atlanta’s Fund & Innovate Work Group, which is to establish and sustain the ‘Entrepreneurial Virtuous Cycle’ that helps innovators align Product-Market-fit more efficiently and effectively with the help of large corporations in their role as eventual customers and partners. To that end, the RIBTB events serve as introductory information sharing sessions in a closed door format where a curated set of five to six companies are invited to present and engage with senior executives of large corporations.  These events are purposely kept small and intimate to encourage meaningful dialogue and a frank exchange of ideas.

 

The theme for this quarter’s event, hosted last week by Atlantic Capital Bank, was Corporate and B2B Payments, more specifically:  How to facilitate and enable corporate and business-to-business (B2B) payment transactions efficiently and effectively with a focus on speed, security, reliability, and an engaging buyer-seller experience. Participants included:

  • Assurant
  • Atlantic Capital Bank
  • Equifax
  • SunTrust
  • UPS
  • US Bank / Elavon
  • 2Checkout
  • BitPay
  • Instant Financial
  • PrimeRevenue
  • RoadSync
  • TransferMate

 

The sheer variety of the presenting companies and their product sets- which included cross-border payments, bitcoin payments, early wage payments, supply chain finance, and payments for logistics- made for an interesting mix and good discussion.

 

Previous RIBTB event topics have addressed faster authentication and identity verification, instant loan/promotion/insurance, and fast-secure transactions, and attracted the following major corporations and fintech firms:

 

Corporations (Buyers): Assurant, Atlantic Capital Bank, Chick-Fil-A, Delta, Elavon, Equifax, Genuine Auto Parts, Home Depot, NCR, Race Trac, TSYS, US Ban

Presenters (Sellers): AuthenticID, Authomate, BitPay, Daon, eCredable, Entersekt, Featurespace, Ingo Money, LendingPoint, Netclearance, Payfone, PayStand, Pindrop Security,  Say-Tec, Socure, TrustStamp, Wonder

 

The broader goal of the RIBTB events is to enable FinTech Atlanta’s mission of making Atlanta “the recognized global capital of financial technology.”  This mission is furthered when local companies conduct business with each other, and when new companies are drawn to the area and create jobs, make investments, and drive positive economic impact for the city and state. For information on future events, contact Kristina Morris of FinTech Atlanta at kmorris@fintechatlanta.com.

 

FinTech Atlanta is a coalition of companies (from Fortune 500s to startups) and other organizations working to cement Atlanta as the recognized global capital of financial technology. The group’s priorities are to fund and fuel efforts to RECRUIT, RETAIN, and EXPAND businesses and jobs across the FinTech ecosystem in metro Atlanta and the State of Georgia.

 

The Fund & Innovate Work Group is co-led by Steve Hassett, COO, GT Software; Chris Stanley, VP of FinTech Industry Banking, Atlantic Capital Bank;, and Ali Raza, Managing Principal, Blue Leviathan.

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