MTTR Matterport Inc

Matterport, Inc. (Nasdaq: MTTR) announced that BMO (NYSE: BMO), the eighth largest bank in North America by assets, has leveraged Matterport’s digital twin platform to streamline site visits across its physical footprint for multiple areas of the bank.

BMO provides a broad range of personal and commercial banking, wealth management, global markets, and investment banking products and services to 13 million customers. In December 2021, BMO announced its plans to acquire Bank of the West (BOTW). Part of that process included transforming 503 BOTW retail branches to BMO, each of which required rebranding and technology updates.

With a need to review each of the locations to create plans for rebranding and other work, BMO utilized Matterport’s Capture Services, the company’s global network of expert capture technicians, to swiftly generate 3D digital twins of each space, including accurate floor plans. In three months, BMO digitally captured all 503 BOTW branches, saving costs for travel and site visits, and approximately 6,000 hours of equivalent survey work.

Previously, the team responsible for this type of work relied on multiple on-site visits to each location to scope the design and technology updates required to bring the interior of the branch to comply with BMO brand standards. Critical documentation like floor plans was often missing from record drawings, creating an early design hurdle.

BMO also leveraged Matterport’s exportable schematic floor plans to create a full complement of assets in a fraction of time, further reducing site visits.

“BMO’s Digital First model is critical to how we do business. That’s why engaging Matterport was so important for this work. It enabled us to create digital twins that not only significantly reduced branch disruptions but also saved time and money,” said Lisa Near, BOTW Program Manager, North American Physical Channels, BMO.

“Our work with BMO is a great demonstration of the scale and precision our customers can expect from Matterport,” said Jay Remley, Chief Revenue Officer, Matterport. “Our global network of capture professionals enables organizations just about anywhere in the world to manage the transition and operations of property acquisitions more seamlessly, helping brands like BMO get up and running faster, with a fraction of the time and resources.”

Since the BOTW project, the platform has seen widespread demand across multiple departments in BMO. As BMO takes on over 50 projects each year across the US, the bank expects to continue reducing branch visits while saving significant time, money, and carbon emissions with Matterport’s end-to-end solutions.

Matterport is leading the digitization of the built world, helping customers better access, understand and utilize properties through its next-generation 3D digital twin. Learn more about Matterport’s case study with BMO, as well as the company’s solutions for Property Marketing, Facilities Management and Design and Construction Management at matterport.com.

About MatterportMatterport, Inc. (Nasdaq: MTTR) is leading the digital transformation of the built world. Our groundbreaking digital twin platform turns buildings into data to make every space more valuable and accessible. Millions of buildings in more than 177 countries have been transformed into immersive Matterport digital twins to improve every part of the building lifecycle from planning, construction, and operations to documentation, appraisal and marketing. Learn more at matterport.com and browse a gallery of digital twins.

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