If you’ve ever split a bill via Venmo or checked your bank balance on your phone, you’ve experienced a taste of fintech—the convergence of finance and technology. Fintech is all about using apps, data, and digital platforms to reimagine how we spend, save, invest, and access money in our modern world.
At the cutting edge of this fintech frontier is the U’s new Stena Center for Financial Technology—an entrepreneurial hub launched in 2023 through a partnership between the U and the Stena Foundation, which was founded by Jana and Steve Smith BS’93. Its bold mission is to establish Utah as the worldwide capital for fintech innovation. In a recent U Rising podcast, Stena Center director Ryan Christiansen, a former senior VP at Mastercard, discussed Utah’s unique approach to shaking up the fintech world with fresh ideas and big ambitions.
What makes Utah well positioned in fintech?
Our fintech foundation runs deep, tracing back over a century to visionary figures like Marriner S. Eccles, the first Federal Reserve chair hailing from Utah. This financial pedigree coalesces with our state’s spirit of technological disruption—from WordPerfect to Adobe, a potent culture of tech innovation courses through our state.
Quantifying this advantage, over 160,000 Utahns are employed in finance and tech roles with average annual salaries approaching six figures. Global titans like Mastercard and SoFi have staked their claim here, recognizing the fertile terrain and talent pool.
How is the Stena Center redefining fintech education?
Our multidisciplinary scope defies traditional academic siloes, merging the business acumen of the David Eccles School of Business with the coding prowess of the John and Marcia Price College of Engineering and the regulatory insights of the S.J. Quinney College of Law. This integrated approach, combined with direct partnerships with local companies, immerses students in real-world challenges, preparing them for immediate employment and playing a crucial role in fostering start-ups and collaborations. This year, the results of this hands-on strategy are evident as our cohort of 19 students graduated. The forthcoming fintech master’s program will serve as a capstone to this enriched talent pipeline.
What is the fintechXstudio?
The Stena fintechXstudio is designed to energize Utah’s fintech scene by connecting promising start-ups with the critical resources they need to succeed. We provide funding to these start-ups, alongside comprehensive mentorship and essential services. This not only accelerates their growth but also helps us cultivate the robust ecosystem of innovation right here in Utah, making it a true hub for financial technology.
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