Bank of Montreal launches second fintech accelerator

Bank of Montreal (BMO) announced the launch of second four-month fintech accelerator program with the DMZ incubator at Ryerson University in as move to strengthen its fintech collaborations, Finextra reported.

The collaboration aims to foster fintech innovation as well as growth and identify the ideas that BMO can integrate and take to scale in a quick manner. BMO is inviting early-stage companies or startups to apply for the accelerator, where six startups will be selected.

The selected participants will gain mentorship and training ahead of a competitive pitch to a panel of BMO and industry-expert judges for a chance to execute a pilot with the bank and additional cash prizes, the report said.

“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,” Andrew Irvine, head, Canadian Business Banking & BMO Partners, BMO Bank of Montreal, said.

Last year cohort, the first fintech accelerator by BMO, identified FormHero and its smart forms platform as a standout opportunity to simplify customer onboarding.