Mr. James DeCosimo reports
DIGITAL BANKING FIRST: BMO INTRODUCES AUTOMATED DIGITAL ENROLMENT FEATURE TO HELP CUSTOMERS BANK ONLINE
To help Canadian customers bank where and how they want, Bank of Montreal has introduced a digital solution that more quickly and seamlessly enrolls customers into commonly used mobile banking features. The solution, automated digital enrolment, is a first for a major Canadian financial institution.
With BMO's automated digital enrolment, new and existing personal banking customers will benefit from the following:
- Simplified experience to getting on-line: It automatically sets up and enables popular mobile banking features including remember me, security alerts, biometric authentication, Interac e-transfers and autodeposit.
- Quicker enrolment: The solution reduces enrolment time from 15 minutes to under three minutes to help customers bank on the go, faster.
- Activating on-line anywhere, anytime: When opening an account in branch, it provides a contactless, digital on-boarding experience to support in-branch physical distancing. The solution can also be leveraged by customers at anytime on their own as well when first setting up mobile banking.
"We know the positive impact digital solutions can have on our customers' financial lives. We wanted to find an innovative way to help get customers set up and banking when and where they want," said Mathew Mehrotra, chief digital officer, North American personal and business banking and wealth management, BMO. "With this new feature, we'll make activating digitally easy for our customers, while also letting them, almost instantly, take advantage of features that will help them make real financial progress."
BMO's automated digital enrolment solution is for new and existing customers that are registering for digital banking through the BMO mobile banking app.
BMO is committed to providing leading, customer-centric digital experiences. This solution adds to a growing list of digital firsts for the bank. In a little over a year, BMO has introduced three other firsts for Canadian financial institutions. The bank introduced an automated bill paying process -- BMO QuickPay -- as well as a digital line of credit solution, which provides customers with the option of applying for a line of credit securely on their mobile devices. BMO also introduced the ability to reset or change a Mastercard PIN through on-line or mobile banking, to help customers bank with confidence remotely.
About Bank of Montreal
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider -- the eighth-largest bank, by assets, in North America. With total assets of $973-billion as of Jan. 31, 2021, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management, and investment banking products and services to more than 12 million customers, and conducts business through three operating groups: personal and commercial banking, BMO Wealth Management and BMO Capital Markets.
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