Finance Montréal Aims to Grow FinTech Start-up Sector with IBM Cloud Collaboration
MONTREAL – Finance Montréal announced today a new partnership with IBM which will help FinTech start-ups in Montreal accelerate their growth and connect with like-minded enterprises. Through the partnership, qualifying FinTechs will have access to IBM technology, as well as its leading experts, data and resources designed to help guide and jumpstart entry into the marketplace.
Finance Montréal was created in 2010 to develop and promote Québec’s financial services industry. The organization works to enhance Montreal’s reputation as a world-class financial hub and fosters cooperation with local businesses to attract talent and investment from around the world.
The partnership between IBM and Finance Montréal includes up to USD10,000 each month, up to a maximum of USD120,000, in IBM public cloud credits for eligible start-ups in their first year of business. FinTechs will be able to access IBM public cloud to leverage higher value services and software, including Watson, IBM Blockchain, IBM Analytics and IBM Security.
- Watson: FinTechs can infuse AI into their business processes, helping them to make more accurate predictions, automate decisions and optimize processes.
- IBM Blockchain: Offers the ability to secure cross-border transactions and build an ecosystem of trust for partners and clients around the world.
- IBM Analytics: Makes data simpler and more accessible, reducing the amount of time it takes to perform repetitive tasks, ultimately resulting in higher impact work.
- IBM Security: Helps FinTechs to assess threats through tools like threat intelligence and AI that deliver solutions with competitive advantages.
The partnership also includes access to online tutorial trainings, lunch and learns from local AI experts, and innovation sessions twice a year about emerging technologies and the evolution of AI. Through the Montréal FinTech Station, FinTechs in residency will also access IBM Garage and Design Thinking methodology sessions, enabling them to deliver customer-focused solutions at an accelerated go-to-market pace.
“At the Montréal FinTech Station, we strive to provide our start-ups with services that go beyond simply renting a workspace”, said Matthieu Cardinal, Vice-President FinTech Development and Corporate Affairs. “Thanks to our partnership with IBM, we can now give those start-ups access to a full suite of cutting-edge technology that will increase their capacity to bring quality solutions to market.”
“Whether you’re looking to disrupt an industry or create meaningful solutions that change people’s lives, more and more of our clients are leveraging IBM public cloud solutions and capabilities to drive innovation,” said Denis Desbiens, President, IBM Quebec. “We look forward to growing this ecosystem with Finance Montréal and FinTechs around the world as they scale their solutions on an open and secure platform that will change the way we work.”
IBM’s partnership with Finance Montreal is part of its global Startup with IBM program, committed to providing access to IBM technology, its startup community and support in order to help developers grow their business.
ABOUT FINANCE MONTRÉAL AND THE MONTRÉAL FINTECH STATION
Created in 2010, Finance Montréal, Québec’s financial cluster, has a mission to make Montréal a world-class financial hub, and foster cooperation among its member institutions to accelerate the industry’s growth. The organization engages in international business development activities to attract foreign financial companies to Montréal by promoting various tax incentives including the IFC tax credit. It also administers the Montréal FinTech Station, a development centre for businesses in the financial technology sector. To learn more about Finance Montréal, visit www.finance-montreal.com, and Montréal FinTech Station at www.stationfintech.com/en.
For more information about IBM Canada, visit www.ibm.com/ca-en/.
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