Signalling the growing importance of industry innovation, the Autorité des marchés financiers (AMF) is establishing a research position in fintech at the Université du Québec à Montréal (UQAM).

The AMF, along with Finance Montréal, announced the creation of an inter-university fintech-focused research unit called the AMF-Finance Montréal research chair.

The unit will focus on a range of issues, including the impact of the fintech ecosystem on the financial sector, the impact of innovation on customer and employee experiences, investor protection, and innovations enabled by an exponential increase in computational power and big data.

The venture is being funded with $2 million over five years: half from the AMF and half from Finance Montréal.

UQAM professor Richard Guay will chair the scientific committee and the chair’s steering committee to manage the distribution of research funding between universities and research centers in Québec.

“The impacts of fintech on the financial services industry and on the regulatory environment are considerable and they challenge us directly,” said Louis Morisset, president and CEO of the AMF.

“The advancement of scientific knowledge will enable us to support the development of our financial sector and educate consumers,” said Matthieu Cardinal, vice president, fintech development and corporate affairs at Finance Montréal.