BMO Harris Bank in the US has strengthened its partnership with FIS to modernise its core and digital banking platforms.
Under the multi-year programme, BMO will implement the FIS Modern Banking Platform to power an expanded retail digital platform. The retail offering will enable customers to access mobile-first deposit and checking accounts.
The scope of the agreement also includes FIS Payments One, Digital One, the Code Connect API gateway as well as call centre, card production and back-office managed services.
The modernisation is expected to provide BMO with the capabilities to expedite the launch of new products. The upgrades will also help in increasing operational efficiency and fuel its growth in the US market.
BMO US chief technology and operations officer Victor Tung said: “BMO is building a digitally enabled, future-ready bank with leading efficiency, profitability and loyalty. We’re focused on accelerating our mobile technology so that our banking experience is increasingly convenient and seamless for BMO customers – however and whenever they choose to manage their money.
“Our expanded relationship with FIS will enable us to continue to launch leading digital solutions for our customers that help them make real financial progress.”
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FIS president Bruce Lowthers said: “As today’s consumers increasingly adopt digital technologies for every aspect of their financial lives, BMO is taking bold steps to meet the changing needs and preferences of its customers and position itself for success in the growing US market.
“We value our long partnership with this forward-looking bank and look forward to continuing to work with them.”
BMO Harris Bank focuses on providing personal banking products and solutions. It has more than 500 branches in the US.
In April this year, the lender partnered with fintech startup Hope Trust.