Montreal, May 15, 2017 – National Bank and the Institute for Data Valorization (IVADO) are proud to formalize a partnership to support the development of Montreal’s data science ecosystem. Through this agreement, the Bank and the Institute will promote innovation in the financial services industry, increase networking between universities and the private sector in the field of artificial intelligence, and encourage philanthropic data analysis initiatives.
National Bank is a founding member of the organization and the only representative from the banking industry. Founded in Montreal in 2015, IVADO aims to bring together industry professionals and academic researchers to develop cutting-edge expertise in data science.
- The partnership will be based on data-driven innovation.
- The agreement will give IVADO’s researchers access to the Bank’s business environment to supply information for their research work and drive innovation in financial services with applications that meet industry needs.
- National Bank will be collaborating with various IVADO partners including HEC Montréal’s Tech3Lab, the most important user experience (UX) lab in North America.
- Targeted initiatives, especially internships for students in the field of artificial intelligence, will help support networking between universities and organizations.
- Together with IVADO, National Bank will encourage the sharing of best practices in data management, analysis, and governance with not-for-profit organizations.
- IVADO is a Campus Montréal project—a joint initiative between HEC Montréal, Polytechnique Montréal, and the Université de Montréal—to which National Bank made a historic $10 million donation in 2013.
“Artificial intelligence is the backbone of the Fourth Industrial Revolution and National Bank is proud to be associated with the IVADO ecosystem and its team of researchers. Developments in technology are bringing about major change in the banking industry and many other sectors as well. In light of this, we believe that supporting environments that foster innovation is strategically important and our partnership with IVADO will contribute to this goal. This is a promising collaboration with spinoffs that will benefit many facets of our society,” stated Christian Faubert, Vice-President – Information Technology, Data and Content Integration Services at National Bank.
“With National Bank signing on as a founding member, IVADO will receive significant support in terms of research and the transfer of technology in the field of finance. We’re extremely pleased with this new collaboration which will no doubt give rise to several innovative development projects,” stated Valérie Bécaert, Director of Partnerships and Knowledge Mobilization at IVADO.
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About National Bank of Canada
With $234 billion in assets as at January 31, 2017, National Bank of Canada, together with its subsidiaries, forms one of Canada’s leading integrated financial groups. The Bank has more than 21,000 employees and is widely recognized as a top employer. The Bank’s securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank’s activities at nbc.ca or via social media such as Facebook, LinkedIn and Twitter.
Founded by the Université de Montréal, HEC Montréal and Polytechnique Montréal, IVADO aims to bring together industry professionals and academic researchers to develop cutting-edge expertise in data science, operational research and artificial intelligence. In essence, IVADO creates opportunities for knowledge exchange and collaborations between the specialists, partners, researchers, and students in its network.
The objective of IVADO is to be the link between academic expertise and the business needs of organizations, from multinational corporations to start-ups. With over 1000 affiliated scientists (researchers, post-docs, PhD candidates, and research associates), IVADO is an advanced multidisciplinary centre for knowledge in sectors including statistics, business intelligence, deep learning, applied mathematics, data mining, and cybersecurity.
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