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BMO taps Demica supply chain finance tech

BMO taps Demica supply chain finance tech

Bank of Montreal is joining forces with working capital outfit Demica to provide clients with supply chain finance options.

In a North American first for Demica, it is licensing its technology platform to the bank on a white label basis and providing support services including buyer integration and supplier onboarding.

The firm is using an SaaS deployment in the Microsoft Azure environment to deliver the platform and product support required to take BMO’s corporate customers live in a fully white labelled environment.

Maurice Benisty, chief commercial officer, Demica, says: "The alliance with BMO is an important step for Demica, as we grow our business in North America. We have established dedicated local resource to serve BMO and are very focused on delivery for them and their customers."

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