The NBI in Fintech – Generating value for startups and banking


Monthly Archives: September 2016

The NBI in Fintech – Generating value for startups and banking

As our NBI in Fintech program draws closer to an end, we’ve connected with our friends at BMO to provide an update on our six startups who’ve shown tremendous growth with their innovations that are contributing to a more advanced and robust financial ecosystem in Canada.

Below is Cam Fowler’s, Group Head of Canadian Banking, BMO, take on our partnership and how the program is going so far.

This past April, BMO announced a new partnership with the DMZ. So why has one of the largest Canadian banks joined up with the leading university-based innovation incubator in North America? The answer is simple: partnering is an excellent way to bring the best experience to our customers.

Banks must continue to move quickly in a market that is adapting to digital capabilities. Customer expectations have increased and this introduces new opportunities and operating models. BMO has focused on empowering customers to bank how they want, where they want and when they want. We’re bringing customer-focused solutions to market more quickly than ever before.

So where do partnerships with groups like the DMZ fit in? First, we share a focus on supporting the entrepreneurial community and building momentum to make Canada a global leader in innovation. Through the DMZ we can stay current and be a part of helping fresh ideas gain scale. Together we have broader reach across geographies and industries through our joint strengths – ours in the financial services industry, matched with the technologies of these start-ups.

This is a partnership that benefits both our customers and community – we’re stronger together. Our collaboration will help us maintain pace with the evolving needs of customers and ensures that the next big idea gets the support it needs to become a reality.

Partner or perish in the innovation economy

An executive director must prepare an organization for what lies ahead. This means understanding shifts in various verticals from organizational silos to discovering innovation opportunities. It also requires finding the right performance indicators that will increase those activities that create repeatable results.

This past year the DMZ has found measurable outcomes from our corporate partners that contributed to our overall mission in supporting startup success. With a few —Goodman’s LLP, BMO and IBM, among others– under our belt, we have learned much about developing impactful partnerships that have been mutually satisfying and rewarding.

As the newest member of HuffPost’s lineup of contributors, I share my thoughts on the importance of partnerships in a market rooted in innovation as well as the challenges and benefits of corporate collaboration. Read about it here.