- FS industry agrees new code supporting victims of financial abuse
- The World Alliance of International Financial Centres launches
- Banks and law firms commit to new working practices for better mental health
- The FCA consults on its approach ahead of the UK’s exit from the EU
- Regulators must work together to avoid breakdown in cross-border financial services, says UK Finance
- Voice ID launches to customers of Lloyds, Halifax and Bank of Scotland
- Date of Bank of England stress testing results announced expired
- NAB choses Brilliance Financial Technology to transform pricing processes expired
- Target Group strengthens its Client Services team with double hire expired
- Over half of the UK’s workforce wants more help from employers with financial planning expired
- Fintech finance firm Duologi aims for ambitious growth expired
- JP Morgan mandatory coding training sets it apart from crowd, says Infosys 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."