Chicago-based BMO Harris Bank has begun working with two local fintech startups that it met through a mentorship programme.
Genivity and SpringFour were among six firms to take part last year in the first BMO Harris/1871 Fintech Partnership programme, operated by the bank with Chicago tech and entrepreneurship centre 1871.
Genivity has built an AI software platform that helps wealth advisors engage clients through life stage, health risk and elder care cost planning. BMO Harris's wealth management business is now preparing to pilot the technology in a small number of markets.
SpringFour has created a financial wellness platform for the FS industry that aims to improve payment performance, reduce delinquencies and increase customer engagement by connecting clients with non-profit resources in their area. BMO Harris customers will now have access to these resources through the bank's website.