International financial services company FIS has decided to solidify its presence in Cincinnati, in the US State of Ohio, as a Strategic Technology and Innovation Campus.
The campus (pictured) on Governor’s Hill Drive, is located in Symmes Township, Ohio, and previously served as the corporate headquarters of Worldpay, which was acquired by FIS on July 31, 2019.
The acquisition of Worldpay, one of the largest deals in the payments processing industry in 2019, created a combined company with over $12 billion in pro-forma revenue and more than 55,000 employees.
Long-term growth plan
On Wednesday, FIS and the State of Ohio jointly announced the company’s commitment to the technology and innovation campus:
“Our significant presence in the Cincinnati market and the state of Ohio is integral to our long-term growth plans and goals to deepen our global leadership in financial technology innovation,” FIS Chairman, CEO and President Gary Norcross said.
FIS said it will continue to invest in its location at the University of Cincinnati’s 1819 Innovation Hub, where the company has plans to employ students to work on FinTech applications.
“The technology provided by FIS and its Worldpay merchant payment solutions is central to the movement of money around the world – and much of that technological innovation starts here in Ohio,” JobsOhio President and Chief Investment Officer J.P. Nauseef said.
Ongoing collaboration with universities
The Fortune 500 company plans to continue to work with the University of Cincinnati and Miami University through its initiative to increase the number of students—especially women and underrepresented minorities—who are pursuing degrees related to the fast-growing technology sector.
FIS is a leading provider of technology solutions for merchants, banks and capital markets firms globally. The company’s business ranges from software and services to consulting and outsourcing.
Ohio’s global tech ambition
Beyond the tech hubs of San Francisco and New York, the Midwestern State of Ohio is gunning to become a global centre of innovation in financial technology. One of the State’s notable initiatives is the startup accelerator Fintech 71.
Fintech71 is an accelerator program for startups operating in banking, payments, insurance, health care, investing and regtech. The accelerator is named for Interstate 71, the highway that connects Ohio’s largest cities of Cincinnati, Columbus and Cleveland.
It’s sponsored by some important players such as KeyBank, Grange Insurance, Huntington Bank and Visa, along with JobsOhio, a nonprofit economic development corporation.
Industry heavyweights including JPMorgan Chase, Capital One and Silicon Valley Bank will offer support through mentorship. Backers of the accelerator are keen on keeping local talent in the state and attracting global innovators who could possibly set up shop there.