Bank of Montreal Taps North Texas for its Newest Tech Hub » Dallas Innovates


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With plans to expand its brand throughout the US, the Bank of Montreal is setting up a tech hub in North Texas.

Adding to its existing operations in the region, the Canadian bank known as BMO plans to hire 50 new employees for its Irving team, as it looks to make the US a major focus of its business.

“This will become a living, breathing environment in a hub that we’re looking to continue to grow,” Sid Deloatch, BMO’s chief information and operations officer, told the Dallas Business Journal.

Boosting BMO’s 250-person DFW workforce

The new hires in areas like cybersecurity, engineering, development, and financial crimes will boost BMO’s current 250-person DFW workforce at a time when the company is looking to grow its tech offerings to clients. Irving is currently home to the bank’s transportation finance team. DFW also hosts some of the company’s wealth and commercial sales businesses.

A spokesperson for BMO told Dallas Innovates that in addition to its existing operations in the area, the company chose the region due to North Texas’ growing population and reputation as a tech hub.

The move will make North Texas the first tech hub for BMO outside of Toronto, where it’s headquartered, and Chicago, where its US operations are based. Globally, the company has around 50,000 employees and about $820 billion in assets.

Banks bet on North Texas for tech

The announcement of the new Irving tech hub comes as BMO is set to acquire San Francisco’s Bank of the West later this year, in a move that will see BMO’s footprint expand across the West and Midwest regions of the US, giving it more branches in America. than it has in Canada, according to The Dallas Morning News.

BMO isn’t the only bank using North Texas as a hub for its technology operations. As the DBJ notes, JPMorgan Chase and Bank of America both have large technological presences in the region. And earlier this year, Pittsburgh’s PNC Bank opened a 200-person tech hub in Farmers Branch in a move that local regional president Brendan McGuire said will help the company “stay ahead of the curve in banking” via the use of “groundbreaking technology” and the “spirit of entrepreneurship.”

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  • PNC Bank has officially opened its North Texas Technology and Innovation Hub in Farmers Branch. Designed to encourage a culture of collaboration, most of its 200 employees will focus on developing—and elevating—PNC’s innovation and technology endeavors. PNC calls it “the first hub of this type to be established in Texas.” Take a look inside in our photo tour below.

  • In this week’s roundup of hires and promotions in North Texas, you’ll also find news from Jacobs, WiNGS, TearLab, Activate Renewables, StreetLights Residential, The Expo Group, Lear Investment Management, and more.

  • The public ledger consensus service from Richardson-headquartered Hedera helped “gather, store, and order” millions of data points in the trial, which was sponsored by the UK government. Working with London-based aviation tech firm Neuron Innovations, Hedera helped advance the case for the safe sharing of long-distance airspace by commercial, military, and government drones.

  • The gender gap in computing is getting worse: In 1995, 37% of computer scientists were women, dropping to 24% today. State Farm is taking action with a new STEM summit to engage girls in science, technology, engineering, and math. Registration is open until Sept. 18.

  • Reminder Calendar

    North Texas has plenty to see, hear, and watch. Here are our editors’ picks. Plus, you’ll find our selections to “save the date.”


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