BMO Announces Partnership with Quantum Industry Canada and Chicago Quantum Exchange

• Partnerships focus on technology commercialization, research collaboration, workforce development and knowledge‑sharing across North America
• Aligns with recently announced BMO Institute for Applied Artificial Intelligence & Quantum, and the bank's focus on responsible technology adoption 

TORONTO, CHICAGO and SAN FRANCISCO, April 13, 2026 /PRNewswire/ - BMO today announced new partnerships with Quantum Industry Canada (QIC) and the Chicago Quantum Exchange (CQE), strengthening the bank's engagement with leading quantum research, industry and policy organizations.

The partnerships build on BMO's April 9 announcement of the BMO Institute for Applied Artificial Intelligence & Quantum, a new Centre of Excellence focused on the responsible application and governance of AI and the advancement of quantum capabilities. Together, these initiatives reflect BMO's commitment to innovating, developing and integrating technologies that will shape the future of financial services and the broader economy.

Through its collaborations with QIC and CQE, BMO is participating in early‑stage, structured ecosystem partnerships focused on knowledge‑sharing, workforce development and dialogue across academia, industry and policy communities. These engagements support BMO's long‑standing approach to personalizing client experiences, augmenting team expertise and process automation, while contributing to the emergence of applications of quantum technologies that will impact the delivery of financial services.

"Quantum technologies present significant long‑term potential, along with important questions around security, governance and real‑world application," said Dr. Kristin Milchanowski, Chief AI & Quantum Officer, BMO. "These partnerships enable us to engage constructively with leading organizations across Canada and the U.S. as the field continues to develop, while taking a responsible, informed approach grounded in collaboration, learning and readiness."

BMO's participation in Quantum Industry Canada connects the bank to Canada's premier business-led quantum consortium, bringing together leading companies and strategic partners across the full quantum stack. Through QIC, BMO engages directly with Canada's quantum ecosystem, contributing perspectives informed by its expert technology bankers, enterprise‑scale financial services experience and long‑term readiness considerations.

"Canada has played an outsized role in building the quantum era. The focus now is on translating that leadership into real capability, markets, and advantage," said Quantum Industry Canada's CEO Lisa Lambert. "BMO's participation reflects the shift from exploration to execution, and the role leading financial institutions play in scaling Canada's quantum economy."

Through its partnership with the Chicago Quantum Exchange, BMO will engage with a Midwest-based intellectual hub that advances the science and engineering of quantum information, prepares the quantum workforce, and drives the quantum economy in collaboration with leading universities, national labs, and industry partners. With BMO's U.S. headquarters located in Chicago, the relationship provides a local foundation for ongoing dialogue, convenings and workforce‑focused engagement, including exposure to emerging research and student talent relevant to financial services.

"The CQE is building and scaling a full‑spectrum quantum ecosystem by working closely with partners in key industries, like finance, to drive progress across the discovery‑to‑deployment pipeline," said David Awschalom, the University of Chicago's Liew Family Professor of Quantum Engineering and Physics and the founding director of the CQE. "Quantum technologies offer significant potential for financial institutions, from quantum networks that may enhance the protection of personal information to quantum computing approaches that could help identify fraud more effectively over time. Engaging in early, cross‑sector dialogue with partners like BMO that share our commitment to responsible and efficient quantum sector growth is an important part of building a strong quantum economy."

Together, these partnerships reflect BMO's long‑term approach to emerging technologies as a financial advisor and capital provider, and as an innovator – engaging early with leading research and industry organizations, investing in knowledge and talent, and building the governance and institutional understanding required to evaluate potential applications responsibly as the quantum ecosystem matures.

Recently, BMO became the first Canadian bank to join the IBM Quantum Network, extending its technology leadership in North America. BMO has also been recognized by Evident AI as one of the world's top 10 banks for AI innovation, received the Commercial Banking Impact Award for Artificial Intelligence and Advanced Analytics from Datos Insights, and was named one of Fast Company's Most Innovative Companies.

About BMO Financial Group
BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.5 trillion as of January 31, 2026. Serving clients for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to approximately 13 million clients across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and stronger communities.

SOURCE BMO Financial Group