BMO and the DMZ at Ryerson University announced May 26 that they will be launching together the “DMZ-BMO Fintech Accelerator” program, which aims to stimulate innovation and growth for financial services technology.
"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," says 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."
Four-month incubation period in Toronto
The program will take place at the DMZ. It will be a four-month incubation period in Toronto for the top six selected entrepreneurs, a mentorship from BMPO leaders, 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.
"Partnerships in Fintech are a key element to building innovations that offer opportunities to benefit Canadian consumers and businesses alike," says 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."
Applications for one of the six placements are open until June 25, 2017 for Fintech companies interested in the program.