Scotiabank partners with Mexican university to open fintech accelerator

Toronto-based Bank of Nova Scotia announced Thursday that it has partnered with the Monterrey, Mexico–based Instituto Tecnológico y de Estudios Superiores de Monterrey to launch the bank’s first fintech accelerator. The accelerator, named Factory A, will be located in Mexico City.

Factory A will choose 10 fintech ventures made up of young entrepreneurs from Latin America, who will have access to prototype labs, legal and public relations services, and mentorship, Scotiabank says in a release.

The ventures will develop solutions in data analytics, alternative scoring, electronic payments, Internet of Things, KYC and cybersecurity.

“We are pleased that the partnership is providing a solid foundation for fintech growth in the region,” said Enrique Zorrilla, CEO, Scotiabank in Mexico, in the release.

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.