BMO introduces mobile alerts

Source: BMO

BMO Bank of Montreal today announced the launch of BMO Alerts, the latest addition to BMO's suite of online and mobile banking tools designed to help Canadians stay on top of their day-to-day finances.

With the introduction of the new tool, BMO is the first major financial institution to offer a free, integrated mobile alerts service that is provided across all mobile platforms and delivered via multiple channels, including email, text message (SMS) and iPhone 'push' notification.

"When it comes to day-to-day finances, it can be easy to lose track of each and every expenditure, often resulting in unwelcomed surprises at the end of the month," says Lynne Kilpatrick, Senior Vice President, BMO Bank of Montreal. "BMO Alerts puts further understanding of personal finances into the pockets of our customers to help them stay on course in achieving their long-term financial goals - any time, any place."

BMO Alerts allows customers to customize their notifications based on personalized account settings, including:

-- Account Balance Alerts - Customers can set a balance for their personal bank account and are notified when it falls below the specified amount
-- Withdrawal Alerts - Allows customers to easily keep track of their money by notifying them when a withdrawal is made that is greater than the specified amount.
-- Deposits Alerts - Notifies the customer when a deposit is made that is greater than the amount specified; and
-- Debit Card Security Alert - Immediately alerts customers if unusual activity is suspected on their BMO Debit Card. Customers who receive this alert should take immediate action by contacting a local BMO branch.

According to a recent BMO study, conducted by Leger Marketing, more Canadians are living at or beyond their means compared to last year (32 per cent versus 20 per cent), and those living paycheque-to-paycheque has increased by more than 10 per cent since August 2010 (27 per cent versus 16 per cent respectively).

Ms. Kilpatrick notes that as household debt levels in Canada continue to be a cause for concern, Canadians should be looking for more services and tools to help them make responsible financial decisions and managmanage their day-to-day spending and savings more effectively.

The introduction of BMO Alerts is part of BMO's ongoing commitment to 'Making Money Make Sense.' Since 2009, BMO has introduced various tools to help Canadians stay on top of their personal finances, including BMO SmartSteps, BMO SmartSteps for Business, BMO SmartSteps for Students, BMO SmartSteps for Investing, BMO SmartSteps for Parents, BMO SmartSteps for Homeowners and BMO MoneyLogic.

The Leger survey was completed on-line from Monday, May 9th, to Thursday, May 12th, 2011, using Leger Marketing's online panel, LegerWeb. A sample of 1512 Canadians 18 years of age or older were surveyed. A probability sample of the same size would yield a margin of error of +/-2.5 per cent, 19 times out of 20.

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