Finance Montréal launches new fintech hub

By zaymalz malz

Fintech industry group Finance Montréal has announced the launch a new fintech hub in the centre of the city in the aim of supporting the development of new financial technology firms, whilst also helping more traditional financial firms to accelerate their digital transformation initiatives.

“This project will make it possible to develop Québec's FinTech community and help bolster Montréal's position as an innovative financial hub," added Louis Lévesque, Chief Executive Officer of Finance Montréal,” said Louis Lévesque, Chief Executive Officer of Finance Montréal.

See also:

The facility, named the Montréal Fintech Station, has been financially backed by the Government of Quebec, receiving $1.5mn upfront whilst a further $9mn will be received over the following five years.

“Technology occupies a central and growing place in the financial sector and in this context, it becomes essential to pool our forces around a dynamic and well-structured pole in order to take advantage of the great expertise developed in the city, which attracts attention everywhere on the planet, especially when it comes to artificial intelligence,” said Quebec Minister of Finance, Carlos J Leitão.

Despite having been opened the hub will officially launch later this year, as the operators will spend the initial 12 months looking to establish connections and recruit participating fintech startups.

Finance Montréal has revealed that approximately 20 to 30 startups will begin working at the centre beginning late 2019.

“We hope to make the Montréal FinTech Station a state-of-the-art space that is dialed in to the global trends revolutionizing financial services. At the Station, financial sector players of all sizes will solve real business problems,” said Matthieu Cardinal, Head of the Montréal FinTech Station.

“Together, we will help create the financial solutions of tomorrow, to the benefit of companies and citizens.”

Share

Featured Articles

Top 10 cybersecurity specialists in the US

As cyber attacks grow in frequency and become increasingly sophisticated, Business Chief looks at the top 10 cybersecurity specialists in the US.

Silicon Valley Bank collapse: How did we get here?

US authorities have stepped in to protect all Silicon Valley Bank customers following the second-largest bank failure in the country's history

Top 10 best new leadership books by women to read in 2023

To mark IWD, here’s our pick of the best new leadership books – all penned by impressive women at the forefront of the ever-evolving world of work

Eight of the best business leadership podcasts

Leadership & Strategy

CEO John Pagano, leading Saudi Arabia's Red Sea Global

Leadership & Strategy

Top 10 female CEOs according to Fortune’s Global 500 list

Leadership & Strategy