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The University of Utah announced Monday that it will launch a new financial technology center on campus in partnership with the private Stena Foundation and its founders, Steve and Jana Smith.
The foundation has “orchestrated,” the university said, funds of up to $65 million over 10 years to support the Stena Center for Financial Technology, which will include laboratories, a start-up incubator, venture funds and new degree and certificate programs. Reinvestments from the venture funds are expected to continue funding the center in perpetuity, according to a press release.
Ryan Christiansen, former senior vice president of data access partnerships at Mastercard, will lead the center as its inaugural executive director.
“The Stena Center for Financial Technology provides the ability to accelerate and incubate important advances in financial technology innovation and businesses that will continue to propel the fintech industry forward and cement Utah as a center of excellence,” University of Utah president Taylor Randall said in the press release. “This world-class center will leverage our unparalleled research and education with resources that provide critical hands-on experiences for students.”
As part of the launch, the university recently began offering a fintech minor. Plans are underway to add fintech undergraduate and master’s degrees within the next four years.
