Bank of Montreal (BMO) is expanding its BMO SmartProgress online education platform. The initiative features interactive resources on personal finance topics. The aim is to empower Canadians to make real financial progress through informed financial decisions.
Financial literacy topics include homeownership, budgeting and credit management.
The latest findings from BMO’s Real Financial Progress Index found 77% of Canadians wish they knew more about saving and investing (50%). Retirement planning (35%), budgeting (30%), credit scores (22%) and home buying (19%) are other key topics.
In addition, a separate BMO survey found 58% of Canadians consider financial literacy tools and resources an important aspect of online banking. Meantime, two thirds (65%) want access to personalized advice.
BMO SmartProgress organises topics including budgeting, credit management and homeownership into playlists. This enables Canadians to learn more about how to manage their finances in a widely- accessible and innovative platform.
“BMO SmartProgress is a convenient resource for all Canadians looking to strengthen their understanding of important, personal financial topics and make confident financial decisions,” said Gayle Ramsay, Head, Everyday Banking, Segment & Customer Growth, BMO.
“Digital tools like these support our commitment for a thriving economy. They empower our customers to take their financial plans to the next level and make real financial progress.”
BMO SmartProgress launched in 2022 as part of its NewStart Programme
BMO initially launched BMO SmartProgress for Newcomers to Canada. This is part of its NewStart Program in November 2022, with financial literacy topics for new Canadians as they begin to build their finances. BMO is now making the platform available to all Canadians to learn more about important personal finance topics. At the same time, it helps consumers build their financial literacy anywhere and at any time.