BMO Financial Group (TSX:BMO)(NYSE:BMO), today launched a powerful new treasury management platform that will help corporate customers manage their day-to-day banking needs online from a single point of contact.
Called "BMO Online Banking for Business," this new service will provide business customers with a single screen or "personal dashboard" to manage all of their global cash management and foreign exchange services online.
"With the personalization that the platform offers, our clients will be able to easily define their own banking experience by selecting what they want to see and where they want to see it on their homepage. And there is more to come, including the integration of online and mobile channels," said Marnie Kinsley, Executive Vice-President, Global Treasury Management, BMO Financial Group.
Ms. Kinsley launched the service today in San Antonio, Texas while attending the 2010 Association of Financial Professionals (AFP) annual conference.
The new service, one of the first of its kind to be offered in Canada, will significantly improve online usability and security. It will feature a new home page and customized options to seamlessly manage global cash management and foreign exchange activity from one point of contact. The online service is also set to include the ability to centrally manage investments, loans, trade finance, and corporate card transactions.
In 2011, Online Banking for Business will be introduced to BMO's commercial banking and corporate card customers. The platform will augment existing systems to provide all business banking clients, from corporate to small business, with a comprehensive view of their financial information, accounting and banking services in an easy-to-use, Internet environment.
"BMO's new platform provides enhanced administration for seamless access to cross-border capabilities which is a competitive differentiator for BMO," said Marc Harrison of Greenwich Associates, a Connecticut-based consulting firm which provides independent market analysis. "Next generation banking platforms such as Online Banking for Business set themselves apart by putting the workflow of the client at the center of the action."
"We are the bank that defines great customer experience and we are committed to delivering a superior online banking service by offering our business clients simple, secure and customizable access to all their banking needs," said Ms. Kinsley.