- CMA's independent survey scores banks on quality of service
- VTB reaches agreement on the acquisition of Bank Vozrozhdenie
- House purchase activity slowed in June but remortgaging activity remains high, says UK Finance
- FCA makes it easier for customers to use and compare current accounts
- FreeAgent secures Open Banking registration from FCA
- New FCA rules double pressure on traditional banks to provide seamless service, says Intelenet
- Deutsche Bank Wealth Management steps up growth plans expired
- DevOps adoption will accelerate over the next two years in the financial services sector, finds Claranet expired
- NatWest and RBS launch 2018 Student Account expired
- Fundsquire hires new UK Managing Director expired
- Robo-advice will offer competitive advantage to traditional wealth managers, says GlobalData expired
- RBS launches the ‘100 Women’ event series expired
10th August 2018
BMO Harris deepens partnerships with Fintech start-ups
BMO Harris is partnering with two Chicago-based tech start-ups to bring their solutions to specific customers: Genivity is an AI software platform helping advisors engage clients through life stage, health risk and elder care cost planning; SpringFour has created a financial wellness platform for the financial services industry that helps improve payment performance, reduce delinquencies and increase customer engagement by connecting customers with appropriate non-profit resources in their area.
Darrel Hackett, President, BMO Wealth Management US, said: "Healthcare cost in retirement is a top concern for many of our clients, and with Genivity's platform our team of advisors will not only be able to better prepare our clients in this area, but also manage the risks that come with planning for unforeseen circumstances. We value this new partnership and are excited to pilot the benefits with a segment of our clients."
Ernie Johannson, Group Head, US Personal and Business Banking, BMO Harris Bank, said: "We are excited to take a step forward in enhancing the level of financial support we offer our customers by leveraging SpringFour's resources. We are committed to aiding customers in their journey to achieve and sustain financial stability."
BMO is building a better all-around customer experience by focusing on a digital transformation that includes enhanced digital capabilities and leverages partnerships that ultimately complement the existing strengths within the bank.
"Our mission is to make sure that no one runs out of money in retirement due to health and elder care costs," said Heather Holmes, founder and CEO of Genivity. "It is great to know BMO shares our values and passion for expanding the conversation to the next generation around the topic that matters most to them, the health and wellbeing of their loved ones."
"We are excited to bring SpringFour to BMO customers because we know that by offering targeted local resources to people when they need financial help, we can help get them back on track with their payments and create opportunities for savings," said Rochelle Nawrocki Gorey, Co-Founder and CEO, SpringFour. "Our solution aligns with BMO's strong emphasis on customer experience and will create more meaningful conversations between employees and customers."