(January 25 – 14:50 ET) – Strategic alliances provide a powerful means of growing in today’s fast-paced, competitive marketplace as more and more companies realize they cannot go it alone.

That was the message from Lloyd Darlington, president and CEO, Emfisys, and head E-business, Bank of Montreal Group of Companies, who spoke to the Toronto Board of Trade Art of Alliances Breakfast Series today.

“Strategic alliances are one answer for companies wishing to experience their own long boom,” said Darlington. “Bank of Montreal has certainly discovered the power of these partnerships.”

“Alliances tap the power of several companies to bring new products to market faster when first-mover advantage is crucial,” said Darlington. “They allow companies to take full advantage of rapidly changing technology, and allow companies to turn internal expertise into marketable products.

“Alliances enable companies to expand the geographical reach and scope of their operations,” he added. “And, they make good financial sense.”

To illustrate his message, Mr. Darlington pointed to Bank of Montreal’s experience building successful alliances. Among the examples he discussed was the bank’s wireless banking venture, Veev.

Veev was launched with a software company, 724 Solutions, and telecommunications carrier, Bell Mobility.

“Veev introduced North America’s first integrated wireless banking and investment service, an accomplishment beyond the reach of each of the individual partners,” said Darlington. “The bank has great strengths in e-commerce, information technology and processing capabilities,” added Darlington. “But we also realize that alliances with other technology companies can build strength on strength.”

“Whatever industry you’re in, alliances provide a powerful means of growing your business in today’s competitive marketplace,” concluded Darlington.
-IE Staff