BMO customer solutions will accelerate after the bank announced partnerships with two Chicago-based tech startups.
The partners enhancing BMO customer solutions
Genivity is an AI software platform helping advisors engage clients through life stages, health risk and elder care cost planning.
SpringFour has created a financial wellness platform for the financial services industry that helps improve payment performance, reduce delinquencies and increase customer engagement by connecting customers with appropriate non-profit resources in their area.
SpringFour’s technology platform helps bridge the gap for customers facing financial difficulty. The platform connects customers with trusted local, state and national resources. SpringFour has built a robust list of resources over the last decade to help consumers facing financial difficulties.
The platform is easy to navigate. Furthermore it will enhance BMO customer solutions by providing customers with various resources in their area willing to assist them. BMO Harris customers will have access to SpringFour’s resources through the bank’s website.
Ernie Johannson, group head of US Personal and Business banking at BMO, stated: “We are excited to take a step forward in enhancing the level of financial support we offer our customers by leveraging SpringFour’s resources.
“We are committed to aiding customers in their journey to achieve and sustain financial stability.”
In 2017 BMO held its Harris/1871 FinTech Partnership programme. Genevity was one of three companies to win awards. Its innovate financial planning software tool will drive BMO customer solutions. By harnessing AI, the tool will help wealth advisors engage in important healthcare discussions and then estimate future long-term health care costs.
Darrel Hackett, president of BMO Wealth Management US, added: “Healthcare cost in retirement is a top concern for many of our clients. In addition, with Genivity’s platform our team of advisors will not only be able to better prepare our clients in this area, but also manage the risks that come with planning for unforeseen circumstances.”