The Royal Bank of Canada this month announced the launch of the RBC FinSec Incubator.
RBC’s FinSec Incubator is described by the bank as “a powerful new program that will help emerging fintech and cybersecurity startups meet the complex needs of the financial sector.”
Aimed at helping early-stage companies transform the financial ecosystem by enhancing product security and resilience to achieve product-market fit, the Incubator program is being launched by RBC in collaboration with the Rogers Cybersecure Catalyst at Toronto Metropolitan University.
“We are thrilled to launch the RBC FinSec Incubator,” stated Angelo Casanas, Director of Innovation at Rogers Cybersecure Catalyst.
The partnership “represents a significant step forward in our commitment to innovation in the cybersecurity and fintech sectors,” according to Casanas.
“This program is uniquely positioned to help startups not only fine-tune their technologies but also gain essential insights into the financial industry’s complex ecosystem,” the director said.
The RBC FinSec Incubator will allow startups to demonstrate their technologies to industry experts and potential investors, as well as establish connections within the finance sector and understand industry procurement requirements, according to Adam Evans, who serves RBC as senior vice president and chief information security officer.
“The RBC FinSec Incubator is strategically aligned with our mission to drive innovation and security within the broader financial services sector,” stated Evans. “Through collaboration with these startups, we’re enhancing the security and resilience of financial services for Canadians.”
The program is open to early-stage fintechs that possess a need for more cybersecurity as well as startups developing tech-enabled product solving a compelling cybersecurity problem facing the financial services industry.
Headquartered in Brampton, Rogers’ Catalyst empowers organizations to tackle the challenges of cybersecurity.
Royal Bank of Canada employs 94,000 people worldwide who serve more than 17 million clients across Canada and 28 other countries.
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