On Friday, BMO Harris Bank announced it has formed a partnership with technology and entrepreneurship ecosystem 1871 to launch a new Chicago-based fintech three-month mentorship program. The new program, which is called the BMO Harris/1871 FinTech Partnership, will offer six selected startups with the following:
A three-month mentorship program with access to mentors and resources from BMO Harris Bank- A working space at 1871, a 140,000 square-foot pure innovation space
- The potential opportunity to pilot their technology with BMO Harris Bank
While sharing more details about the program, Alexandra Dousmanis-Curtis, Group Head of U.S. Retail and Business Banking at BMO Harris Bank, stated:
“Innovation is crucial for any business to succeed in today’s business environment. We’re partnering with 1871 to present new enhancements to our industry with the opportunity to refine our capabilities for our current and prospective customers of tomorrow and beyond.”
Darrel Hackett, President of BMO Wealth Management U.S, added:
“Chicago is a rich technology epicenter and 1871 has played a critical role in that transformation. Our mentorship program with 1871 will enable us to forge a strong working environment for startups to take advantage of and explore new ideas that resonate in the financial services industry and ultimately with our customers.”
Fintech companies from across the Chicago area are invited to apply before May 15th for one of the six placements. After three months, all of the six startups will present their product to a panel of judges consisting of bank executives for a chance to share in the total cash prize of $50,000.