- Global awards recognize innovative achievements for
companies in financial services sector.
- BMO NewStart® Pre-Arrival Account Opening program
allows for instant processing of eligible pre-arrival account
applications for residents from 13 countries.
TORONTO, Nov. 29,
2023 /CNW/ - BMO today announced its industry-leading
online banking offering, the NewStart® Pre-Arrival Account Opening
program, has received two global awards:
- BAI Global Innovation Award: The premier award
celebrates achievements for financial institutions that embrace
digital innovation to transform the customer experience. BAI
highlighted the NewStart® Pre-Arrival Account Opening program's
best-in-class experience that helps newcomers with account opening
and money movement, easing the stress of immigrating to
Canada.
- Qorus-Accenture Banking Innovation Award: Named
the Gold winner in the Core Offering Innovation category, BMO's
Pre-Arrival Account Opening Program was recognized for its role in
advancing the banking industry and meeting and exceeding customers'
evolving needs and expectations.
"We're grateful to have been globally recognized for our
commitment to supporting newcomers throughout their journey and
empowering them to make progress in building their lives in
Canada," said Sumit Sarkar, Head, Customer Growth, BMO.
"Driven by our Purpose, to Boldly Grow the Good in business and
life, we remain dedicated to continue making meaningful change
and delivering the best in-class experiences that help newcomers
make a seamless transition into the next chapter of their financial
journey and ensure they have the resources they need to thrive in
Canada."
"Investments in innovation have enabled us to offer
industry-leading banking services that transcend borders and help
newcomers to Canada get a head
start on making real financial progress," said Gregory Brown, Head, North American Digital
Product Management, Sales and Marketing, BMO. "The Pre-Arrival
Account demonstrates how BMO is pushing the boundaries of what's
possible to ensure our customers benefit from service excellence
and advancements in digital banking."
In April 2023, BMO enhanced its
online pre-arrival account opening capabilities for newcomers to
Canada by allowing online
applicants in eligible jurisdictions to have their BMO Pre-Arrival
bank account applications processed instantly. In addition, the
NewStart program was expanded to residents of countries that are a
part of the Government of Canada's
Student Direct Stream accelerated student visa application process,
including Antigua and Barbuda,
China, Colombia, Costa
Rica, India, Morocco, Pakistan, Peru, Philippines, Senegal, Saint Vincent and the Grenadines, Trinidad
and Tobago, and Vietnam. The awards underscore BMO's
ongoing efforts to pioneer advancements in digital banking and
reflect BMO's mission to provide an exceptional banking experience
beyond borders.
BMO continues to pave the way as a digitally enabled,
future-ready bank, focused on delivering leading digital
experiences that help customers make real financial progress. These
awards build on BMO's record of market-recognized digital
innovations, including Fast Company Best Workplace for Innovators
(2023), receiving the highest scores on the J.D. Power 2023 Online
Banking Satisfaction Survey (2023), Best Fintech
Accelerator and Incubator Award, Finovate Awards (2022), Canada
Mobile Banking Emerging Features Benchmark ranking (2022), and BAI
Global Innovation Awards (2022).
BMO Helps Newcomers to Canada Make Real Financial
Progress:
- BMO's NewStart Program: BMO's NewStart program provides
customers with a suite of best-in-class, personalized, no-fee
banking products, including chequing and savings accounts,
customized mortgage options, credit with no credit history,
investments, and worldwide money transfers to establish their
finances.
- BMO SmartProgress: To help with their transition, BMO
SmartProgress is a free online financial education program that
provides newcomers with a customized, on-demand, and interactive
learning experience. This financial literacy platform is geared to
help educate newcomers on the Canadian banking system and assist
them in creating good financial habits while they start their new
lives. It features bite-sized content, including videos and tools,
to give newcomers a better understanding of complex financial
topics, including budgeting and credit management, homeownership,
and investing in their future.
To learn more about how BMO can help customers make financial
progress, visit www.bmo.com/main/personal.
For more information about the BAI Global Innovation Awards,
visit:
https://www.bai.org/global-innovation-awards/global-innovation-awards-finalists/.
For more information about the Qorus-Accenture Banking
Innovation Awards, visit:
https://bankinginnovation.qorusglobal.com/.
About BMO Financial
Group
BMO Financial Group is the eighth largest bank in North
America by assets, with total assets of $1.25
trillion as of July 31, 2023. Serving customers for 200
years and counting, BMO is a diverse team of highly engaged
employees providing a broad range of personal and commercial
banking, wealth management, global markets and investment banking
products and services to over 13 million customers
across Canada, the United
States, and in select markets globally. Driven by a single
purpose, to Boldly Grow the Good in business and life,
BMO is committed to driving positive change in the world, and
making progress for a thriving economy, sustainable future, and
inclusive society.
SOURCE BMO Financial Group