Award recognizes digital channel capabilities

TORONTO–BMO Financial Group today announced it has received Aite Group’s 2019 Impact Innovation Award for Cash Management and Payments for Digital Channel Capabilities. The award recognizes the bank’s efforts to deliver a leading experience for online business banking customers across channels.

Aite Group’s Impact Innovation Awards in Cash Management and Payments celebrates innovation achieved by financial institutions that are introducing new products, capabilities, or levels of automation and effectiveness that bring the industry one step closer to next-generation banking.

“Across BMO, we’re focused on creating and investing in services that deliver great experiences for our customers,” said Sharon Haward-Laird, Head, North American Treasury & Payment Solutions, BMO Financial Group. “This award speaks to that commitment and our teams’ ability to push the envelope and be change makers.”

BMO was recognized for reimagining the online experience for commercial banking customers and delivering:

Biometric ID and mobile: The new business banking app provides added convenience by allowing payments to be approved while on-the-go. It also features biometric options – fingerprint, retina, voice, and face identification – for authentication on both desktop and mobile. This is a first for a financial institution in Canada.
Agile infrastructure: Revamped the underlying infrastructure of the online business banking platform to simplify the process for introducing software updates, leading to an improved experience.
Powered up self-service: Rolled out a single destination for client self-service – a centralized support hub called the Help Centre. Clients now experience a simplified onboarding experience when logging into the online business banking platform.

About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider – the 8th largest bank, by assets, in North America. With total assets of $839 billion as of July 31, 2019, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.

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