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Ranked 13th in the 2018 Global Financial Centers Index, Montreal is an ideal location to set up an intelligent service center for financial institutions. The local business environment facilitates cost efficiencies while leveraging top talent to operate digital transformation.

Montreal’s Intelligent Financial Service Location Proposition

Sophisticated and large financial ecosystem, which offers:

  • Scalability in process capacity and scope
  • Capability to transition from transactional to knowledge based processes
  • Low operational risk
  • Significant cost savings (U.S. Tier 2 cities are 45% more expensive, New York, 75%)
Intelligent Service Location

Deep Labor Pool

  • Abundant skilled and experienced labor in Finance, IT, Shared Services and Transformation
    • 100,000 employed in the Financial Services Industry
      • 50,000 in banking, 30,000 in insurance, 15,000 in securities
      • Same professional designations in Montreal as in London or New York
      • High concentration of Chartered Accountants (CPAs) and CFAs
    • 91,000 IT professionals
    • 39,419 professionals with shared services skills
    • 22,815 finance transformation professionals
  • Constant stream of new local and international talents
    • Canada’s University Capital: 6 world-class universities, 155,000 students,
      • 53,000 graduates per year, 30,000 international students
      • 4,000 graduates / year in finance (8,300 enrolled)
      • 16,500 university and college students in IT
      • QS #1 Student City in the world 2017
    • Over 50,000 immigrants / year. 50% with university degrees.

Technology Hub

  • Ranked 8th in North America for IT job concentration
  • Ranked #1 in Canada for tech job concentration in 2016
  • 2,600 startups, 50 incubators, 125 Meetups Groups/45,000 members, “A” grade for availability of VCs
  • Global ITOs such as CGI, IBM, CapGemini, Accenture etc.
  • World Leading Artificial Intelligence, Blockchain and Smart Automation Capabilities
  • A vibrant upcoming fintech hub
  • World-class expertise in gaming, special effects, etc.

Business Environment

  • Adequacy Status for international data transfer with E.U. and U.S.
  • Downtown Montreal: tenant favorable market conditions (available office space to sublease & new buildings)
  • Major low cost data center capacity
  • International mobility and open visa policies for specialized workers and professionals

Proven Track Record

  • Some North American Service Centers successes in Montreal

Morgan StanleyBNP ParibasState StretSociete General

  • Existing leadership base of 24/7 Shared Services & Smart Services Centers
    (+47,000 FTEs) and Global Outsourcers (+10,000 FTEs)

Low Costs

  • The most competitive operating costs of North America’s 20 largest metropolitan areas (KPMG Competitive Alternatives, January 2017) in:
    • International finance services
    • Software development services
    • Shared service centers
  • Generous non binding tax incentive and grant programs for:
    • Finance Operations (tax credit of up to C$18,000 yearly on eligible employees wages)
    • Technology (tax credit of up to C$25,000 yearly on eligible employees wages)
    • Job Creation and Training (grant of 25% of eligible training costs for projects creating 50 jobs or more)
    • Scientific Research and Experimental Development (tax credit of up to 65% on SR&ED labor and costs)
  • For more information on available tax incentives, contact us.
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How Finance Montreal can help


Research on Local & Relevant Competencies Matrix and Processes

Business Case

Site Selection

Strategic Partner Network


Incentives (Fin Ops., IT and Labor Training)

HR Strategy and Recruitment


International Mobility



Introduction to Supportive Technological Synergies (e.g. Fintech cluster, Deep Learning Labs, Data Valorization Institute etc.)

Contact us


Steve Gauthier

Corporate Development
+1 (438) 320-6222


Bruno Seguin

Strategic Accounts
+1 (438) 320-6203


Archit Dhir

International Projects
+1 (438) 320-6218

Download the report

We invite you to fill the form above to get a copy of our report.

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