The #FintechAccelerator innovation program will fuel the
success of a leading group of national start-ups looking to expand
their businesses
TORONTO, May 26, 2017 /CNW/ - BMO Financial Group and
the DMZ at Ryerson University announced
today that they would be extending their partnership with the
launch of the "DMZ-BMO Fintech Accelerator" program,
benefitting Canada's top financial
technology startups.
Following the success of 2016's "The Next Big Idea in Fintech"
program, the goal of the partnership is to foster innovation and
growth for financial services technology startups and identify the
ideas BMO can integrate and take to scale quickly.
The program, which will take place at the DMZ – the leading
university-based incubator in North
America – will include:
- a four-month incubation period in Toronto for the top six selected
entrepreneurs;
- mentorship from BMO leaders throughout the process; and
- a culminating event where each finalist will pitch their
technology to a panel of BMO and industry-expert judges for a
chance to execute a pilot with the bank and additional cash
prizes.
The 2016 cohort identified FormHero and its platform of
reimagining forms as a standout opportunity to simplify the BMO
customer experience, and has since undergone a proof of concept
with the bank.
"Innovation and continuously evolving with our customers' needs
is a constant driver for all that we do at BMO, which is why this
expanded partnership with the DMZ is a natural fit," said
Andrew Irvine, Head, Canadian
Business Banking & BMO Partners, BMO Bank of Montreal. "The talented entrepreneurs that we
get the chance to work with through this program have so much to
offer to our industry. We look forward to collaborating with them
and helping to provide opportunities that will enhance the Canadian
Fintech landscape and ultimately provide a better customer
experience."
"Partnerships in Fintech are a key element to building
innovations that offer opportunities to benefit Canadian consumers
and businesses alike," said Abdullah
Snobar, executive director of the DMZ at Ryerson University. "The DMZ-BMO Fintech
Accelerator not only signals a desire to facilitate a dynamic
financial services sector, but will also provide the country's best
tech startups with the opportunity to receive critical resources to
help grow their business."
Fintech companies from across Canada are invited to apply by June 25 for one of the six placements, which will
be awarded to companies that would be most likely to benefit from a
period of incubation at the DMZ.
Applications to the DMZ-BMO Fintech Accelerator
program are due by June 25. For more
information, eligibility and to apply, visit
dmz.to/BMOfintech
About BMO Financial Group
Established in 1817, and currently marking its 200th year of
operations, BMO Financial Group is a highly diversified financial
services provider based in North
America. With total assets of $719
billion as of April 30, 2017,
and more than 45,000 employees, BMO provides a broad range of
personal and commercial banking, wealth management and investment
banking products and services to more than 12 million customers and
conducts business through three operating groups: Personal and
Commercial Banking, Wealth Management and BMO Capital Markets.
About the DMZ at Ryerson
University
The DMZ is one of Canada's
largest business incubators. The top-ranked university incubator in
North America and third in the
world, the DMZ is a hub of innovation, collaboration and
commercialization. Since opening in April
2010, the DMZ and Ryerson Futures Inc.-its affiliated
accelerator program-have incubated and accelerated 282 startups,
which have collectively raised more than $306 million in funding and fostered more than
2,681 jobs. For more information about the DMZ, visit
www.ryerson.ca/dmz
SOURCE BMO Financial Group