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
