BMO Launches Technology & Innovation Banking Group for Fintechs

On April 30, 2019, BMO Financial Group launched a dedicated Technology & Innovation Banking Group to serve fintech and technology companies. The group is led by Andre Salvi and aims to provide a comprehensive suite of services including funding, advisory, and strategic partnership facilitation for tech firms at various stages of growth. BMO designed the group to build on its prior collaborations with fintech companies, centralizing its technology banking capabilities under one umbrella.

The initiative reflects BMO's strategy to deepen relationships with the innovation economy and position itself as a preferred banking partner for emerging technology firms. Financial terms of the group's capitalization were not disclosed. The launch underscores a broader 2019 trend of major banks creating specialized units to compete for fintech business and embed themselves more deeply in the innovation value chain.