BMO Recognized for Digital Innovation, Customer Experience and Delivery Excellence with Five Global Retail Banking Innovation Awards

TORONTO, Nov. 19, 2024 /CNW/ - BMO today announced it has received five Global Retail Banking Innovation Awards from The Digital Banker for its leadership in digital innovation, customer experience and delivery excellence.

• Outstanding Staff Training, Learning & Development Program Award: Created at BMO's Agile Center of Excellence, the Digital Agile Learning and Development Program was established to strengthen employees' skills and competencies for agile-specific roles to enable digital delivery at scale with quality and pace.
• Digital Lending Product of the Year Award: BMO PaySmart is a low-credit solution that has helped Canadians access a flexible tool to turn credit card purchases into equal monthly payments, enhancing their ability to manage cash flow and gain better understanding of their spending. Since its launch, PaySmart has empowered customers with clear insights into their spending habits and progress to achieve their goals.
• Best Payments Innovation Award: BMO SplitShare allows customers to split expenses between their Interac e-Transfer® contacts seamlessly and efficiently. Customers can share costs with anyone registered for Interac e-Transfer regardless of where they bank, providing a convenient one-stop solution.
• Outstanding Customer Service Innovation by a Retail Bank Award: BMO Digital Card Controls Suite is a quick solution for customers facing pressing issues such as a lost wallet, damaged cards, or forgotten PINs. Customers are empowered with the hassle-free option of not having to call or visit a branch.
• Best Gen-AI Retail Operations Initiative Award: A large language model (LLM) powered tool created in partnership with Deloitte, BMO Customer Feedback Assist helps employees save time by summarizing and categorizing feedback obtained from customer reviews to address emerging issues and trends. Taking elements of a traditional dashboard and adding LLM powered data, this cohesive solution improves employees' workflow to achieve customer satisfaction.

"These awards are yet another recognition of BMO's commitment to tangible innovation guided by a deep understanding of our customers' needs," said Mat Mehrotra, Chief Digital Officer and Head of Canadian Products, BMO. "BMO continues to be a trailblazer providing leading digital experiences that help customers make real financial progress."

The Global Retail Banking Innovation Awards is a global program recognizing industry organizations spearheading new standards of innovation in retail banking. The awards attribute excellence in the financial services industries for outstanding achievements in digitally led experiences.

BMO continues to pave the way as a digitally enabled, future-ready bank, focused on delivering leading digital experiences that help customers make real financial progress. This recognition contributes to BMO's Digital First journey and builds on the bank's strong track record of industry recognitions.

For more information about the Global Retail Banking Innovation Awards, please visit: www.thedigitalbanker.com/awards/global-retail-banking-innovation-awards/

For more information on BMO's tools and resources available to help customers set, track, and manage their personal finances, please visit: www.bmo.com/main/personal/

About BMO Financial Group

BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.4 trillion as of July 31, 2024. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to 13 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and inclusive society.

SOURCE BMO Financial Group