- FCA confirms greater access for SMEs to the Financial Ombudsman Service
- Nomura settles case of RMBS securitised by US Subsidiaries with US Department of Justice
- Number of first-time buyers reaches its highest level since June 2017
- Thriving SMEs to bolster growth of alternative finance
- UK Finance supports FCA plan to extend access to Ombudsman Service to smaller firms
- Monese launches business account in the UK, with Europe to follow soon
- ‘Rom-cons’ costing love-struck Brits thousands, says Barclays expired
- High-cost lenders should reassess their operational procedures, says Huntswood expired
- Mastercard is the first network to make signatures optional expired
- Federal Reserve study finds US payments fraud small but growing expired
- CEOs of big banks pull out of Saudi conference expired
- Study shows regional disparity in terms of where Angel investors are based and where they invest 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."