Partnerships will bring new digital products to customers
BMO has announced a deepening of its relationship with two fintech startups as the traditional financial institutions seek ways to leverage the burgeoning demand for digital solutions.
The partnerships will run through BMO Wealth Management and BMO Harris Bank in the US and include an award winner in BMO Harris’s FinTech Partnership program last year.
Genivity will be used by FAs at BMO Wealth Management in two suburbs of Chicago and two cities in Florida. It is an A.I. software platform helping advisors engage clients through life stage, health risk and elder care cost planning.
"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," said Darrel Hackett, President, BMO Wealth Management U.S. "We value this new partnership and are excited to pilot the benefits with a segment of our clients."
Financial heath
Meanwhile, financial health fintech SpringFour helps bridge the gap for customers facing financial difficulty by connecting them with trusted local, state and national resources.
It will be available to BMO Harris Bank customers through the bank’s website.
"We are excited to take a step forward in enhancing the level of financial support we offer our customers by leveraging SpringFour's resources," said Ernie Johannson, Group Head, U.S. Personal and Business Banking, BMO Harris Bank.
