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Financial Services and Insurance

New York is Leveraging Technology to Drive Innovation

Contact James Kostenblatt
Industry Contact Regional Director James Kostenblatt

The world’s most successful financial services, insurance companies and fintech firms call New York State home

New York is a global financial capital — home to many of the world’s leading commercial banks, investment banks, and insurance companies. The state is thriving as these industries evolve, and we are the location of choice for fintech, insurance-tech, and blockchain businesses such as AML Rightsource, BetterMortgage, Brex, Curve, MasterCard, Oscar, PolicyGenius and Zipari.

From front-office executive, quantitive analytics, trading and client relationship offices to back-office IT infrastructure, claims processing, and technical support operations, New York has the workforce and infrastructure to make businesses successful.

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New York State’s highly educated workforce and low operating costs have attracted world-class companies like Equitable, GEICO, BNYMellon, Travelers Insurance, Chase and Citi to establish professional back-office operations throughout upstate New York.

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New York is ranked #2 in fintech investment, with more than $10.4 billion in VC invested in 2022. New York is home to more than 1,500 active fintech startups, including 35 unicorns. In 2022, NYS fintech companies completed 502 VC deals.

Financial Services and Insurance in New York State

Discover why New York State is the ideal place to launch or expand your business.

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$8.8 Trillion

Amount held by New York State financial and insurance institutions 

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#2 in the U.S.

New York is home to many Fortune 500 HQs

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9,000+

Number of NYS insurance (and related) business locations

Opportunities to grow your business in New York State

Construction of the New NY Bridge in New York's Mid-Hudson Region.

Tax-Based Incentives

All forms of tax incentives that enable savings and cost advantages to businesses.
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Operational Support

Programs offering assistance or training to ensure more competitive businesses.
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Growth Support

Funds, loans and other means of financial support to stimulate business growth.
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Innovation Development Support

Financial incentives to foster university collaboration, research and innovation.

Industry Contact

For press inquiries, please contact [email protected]

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Headshot of James Kostenblatt
James Kostenblatt
Senior Director, Industry Development - Strategic Business Development
Financial Services and Insurance