dailyblend
In the recent Fast Company’s 2024 list of the World’s Most Innovative Companies, BMO has emerged as a luminary of innovation, particularly in the realm of personal finance. This distinction places BMO as the sole bank from Canada and the U.S. to be recognized, amidst a competitive field of over 600 global organizations spanning 58 industries. The accolade celebrates BMO’s commitment to revolutionizing personal finance through cutting-edge digital tools and services, aimed at facilitating genuine financial progress for its customers in North America.
Fast Company‘s rigorous evaluation process, focusing on innovation, impact, timeliness, and relevance, has spotlighted BMO’s efforts in revamping its digital banking experience. By modernizing its underlying technology, BMO has not only achieved new heights in customer satisfaction but also significant improvements in task completion rates and digital product application volumes.
Erminia Johannson, BMO’s Group Head of North American Personal and Business Banking, highlighted the award as a testament to the bank’s digital-first approach and its dedication to providing best-in-class, convenient banking experiences that empower customers financially.
Innovative offerings like BMO’s Savings Goals within their Mobile Banking app, the Same Day Grace feature for avoiding fees, and the NewStart® Program for newcomers to Canada underscore BMO’s commitment to financial inclusivity and progress. Moreover, the BMO InnoV8 program has been pivotal in exploring and commercializing new technologies that enhance customer experiences, boasting a sevenfold return on investment.
Beyond these innovations, BMO also provides a range of low- and no-cost services aimed at improving financial literacy, managing credit, and providing comprehensive insights into spending patterns, both in Canada and the U.S. Additionally, the Real Financial Progress Hub launched by BMO offers a wealth of personal finance resources, advice, and tools tailored to help customers achieve their financial goals.
This recognition by Fast Company not only underscores BMO’s leadership in digital banking innovation but also reaffirms its commitment to making banking more accessible, efficient, and empowering for customers across North America.
