Insight & Analysis

Press release: Fintech Rimilia expands into Canada

Published: Aug 2019
Newspaper press release

15th August 2019 – Rimilia, a global leader in financial relationship management solutions that transform how businesses optimise their end-to- end customer financial relationships, today announces the opening of a new regional technical hub in Toronto, Canada. This is the second office that Rimilia has opened in the last six months as a result of continued high growth. The Toronto office will focus on Tech Services, Customer Support and AI Development to support North American located customers and tap into and contribute to the flourishing AI industry growing in Canada’s largest city. Rimilia partnered with Toronto Global, a team of experienced business advisors assisting global businesses, to expand into Toronto.

Rimilia provides the most advanced financial relationship management solutions for customers such as Expedia, Avis, and HSBC who utilise the power of an AI engine to automate their Accounts Receivables, streamline and enhance customer acquisition, reduce their Days Sales Outstanding (DSO), increase customer loyalty and leverage deep learning and insights for better decision making.

Kevin Kimber, Chief Executive Officer, stated, “We are extremely excited to open our new technical hub in Toronto, the centre of the global AI community. Toronto has one of the largest AI-focused workforces in the world as well as the highest concentration of AI startups. With other fast growth and global companies like Uber, Airbnb, HSBC and Facebook all opening AI hubs in the city, it’s a natural decision for us to join the ecosystem and continue our commitment to deliver the latest in AI capabilities to our customers. The opening of this hub supports the strategic expansion of the Rimilia brand, and Toronto is an ideal location giving direct access to high-tech talent, which will be crucial to support our next wave of growth.”

Commenting on Rimilia’s opening in Toronto, Chris Yip, Dean of University of Toronto Applied Science and Engineering, said, “With deep roots as leaders in machine learning and neural networks, the University of Toronto has always been a beacon to pioneers in AI. Today, we have a critical mass of researchers, students and industry partners, like Rimilia, collaborating to push the field forward — Toronto is truly the top destination for AI leaders globally.”

Commenting on behalf of the Ontario province, Vic Fedeli, Ontario Minister of Economic Development, Job Creation and Trade, said, “Our government’s ‘open for business’ and our ‘open for jobs’ approach is accelerating Ontario as a place for businesses to create opportunities in innovative areas such as Artificial Intelligence. Rimilia’s decision to create a new global hub in Toronto reinforces the province’s reputation as a global player in the growing fintech sector.”

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