The senator said that businesses, especially innovative businesses like those in fintech, come to Utah for four reasons. "The funds available far exceed the opportunity to apply those funds in a meaningful way. "We are awash in funds available for either startups or expansion capital," he said. One of the main reasons the U.S., and Utah in particular, has become a strong leader in the financial technology field is the fluid connection between innovators and the funds needed to get their ideas off the ground, and the financial services sector has had to be just as innovative as the high-tech sector, Romney explained. Now, the overlapping world of finance and technology, or fintech, has matured and shaped the world in unimaginable ways. When Romney officially left Bain Capital and the business world in 1999, the internet was still in its infancy. Mitt Romney congratulated the economics and financial sector of Utah for its successful response to the economic challenges that came with the pandemic, saying that the state had possibly "the best response in the country" regarding Paycheck Protection Program loans. SALT LAKE CITY - During the University of Utah's inaugural FinTech Summit, Utah Sen.
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