23 October 2017
visit www.avoka.com

Bank of Montreal joins eScout e-commerce network

17 August 2001  |  1280 views  |  0 Bank of Montreal joins eScout e-commerce network

Canada's Bank of Montreal has taken a stake in B2B network eScout and plans to offer its 440,000 small and mid-sized enterprise customers free access to the online marketplace.

In the US, more than 75,000 buyers and 100 suppliers currently buy and sell goods and services over the Web with eScout.

Marnie Kinsley, executive vice president, e-business, Bank of Montreal, says: "Through eScout, our customers will save time and money by purchasing competitively-priced supplies online through a single site and will have access to a variety of resources through a trusted network of buyers and sellers."

Bank of Montreal customers will have free access to eScout later this year when rollout begins in Southwestern Ontario. The full launch is scheduled to take place in early 2002.

In addition to a multi-year licensing fee, Bank of Montreal will invest approximately C$10.8 million in eScout. Charles Piermarini, senior vice president of Venture Creation for Bank of Montreal, is to join eScout's board of directors.

The deal with BMO marks the venture's first incursion into the Canadian marketplace. eScout's US network of 1300 regional and community banks represents 15 percent of American banks.

Chicago-based Harris Bank, a member of the Bank of Montreal Group of Companies, is one of the eight founding members of eScout.

KeywordsB2B

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

BMO InvestorLine launches online retirement planning tool

BMO InvestorLine launches online retirement planning tool

10 August 2001  |  2668 views  |  0 comments
Banks losing battle for online SME relationships

Banks losing battle for online SME relationships

03 August 2001  |  3975 views  |  0 comments
Bank of Montreal and Mail Boxes Etc to test shared branch

Bank of Montreal and Mail Boxes Etc to test shared branch

05 July 2001  |  2598 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.atos.netvisit www.niceactimize.com

Top topics

Most viewed Most shared
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
19183 views comments | 28 tweets | 41 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
15126 views comments | 23 tweets | 32 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
10946 views comments | 12 tweets | 23 linkedin
Eight banks form joint venture to launch blockchain trade platformEight banks form joint venture to launch b...
8984 views comments | 14 tweets | 28 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job