back Back

BMO Financial selects AWS as its preferred cloud provider

By Pavithra R

June 10, 2021

  • Bmo
  • Canada
Share

BMO Financial selects AWS as its preferred cloud providerBank Of Montreal (BMO), helping simplify the payments process for Canadian businesses selected Amazon Web Services (AWS) as its preferred, strategic cloud provider.

BMO will use AWS to modernize its banking platforms and build digital financial services applications as part of the company’s ongoing digital transformation. By leveraging AWS’s extensive portfolio of cloud capabilities, including analytics, machine learning (ML), serverless, compute, storage, and database, BMO will develop and scale digital platforms and services for its global customers, meeting and strengthening stringent security and compliance standards. Additionally, BMO will launch a comprehensive, hands-on cloud skills training program for its non-technical and IT employees.

“We continue to make bold moves at BMO to accelerate our digital transformation. AWS’s proven experience in the financial services industry is helping us advance our long-term strategy and deliver on our mission to innovate relentlessly on behalf of our customers. AWS gives us the reliable global infrastructure we need to rapidly scale our business, as well as the comprehensive set of cloud capabilities to move faster and expand the use of analytics, machine learning, and high-performance computing across our entire operation,” said Steve Tennyson, Chief Technology and Operations Officer, BMO Financial Group.

With over 12 mn customers and $950 bn in assets, BMO is the eighth-largest bank in North America. The financial services company chose AWS for its comprehensive set of cloud technologies and proven reliability and operational experience, which will help the bank streamline its internal business processes, extract insights from financial transaction data, and deliver secure applications and services to customers.

BMO is moving strategic workloads to AWS that support its retail and commercial banking, investment banking, and wealth management operations. The bank is also migrating its online and mobile banking applications to AWS to innovate faster and set up an operating model that will enable broad and rapid cloud adoption; this includes creating a consolidated data lake, adopting serverless architecture, and deploying advanced capabilities like high-performance computing and machine learning.

The bank is also migrating its online and mobile banking applications to AWS to innovate faster and set up an operating model to enable broad and rapid cloud adoption; this includes creating a consolidated data lake, adopting serverless architecture, and deploying advanced capabilities like high-performance computing and machine learning.

“BMO is reimagining banking and financial services, and embracing a cloud-first strategy that will help the company continuously develop new services for its customers. By selecting AWS as its preferred cloud provider, BMO can rely on AWS’s scale, performance, and unparalleled portfolio of capabilities to drive innovation across its entire business to continue to differentiate its offerings and remain a leader in financial services,” said Matt Garman, Senior Vice President of Sales & Marketing at Amazon Web Services, Inc.

Established in 1817, BMO is a leading bank driven by a single purpose: to Boldly Grow the Good in business and life. As the 8th largest bank, by assets, in North America, it helps customers make the most of their money.

Previous Article

June 10, 2021

Visa partners with Airwallex to launch Airwallex Borderless Cards in Hong Kong

Read More
Next Article

June 10, 2021

HC3 partners with Papaya to provide pay-by-photo capabilities for physical statements

Read More






IBSi Daily News Analysis

May 28, 2024

Bmo

Latin America becomes a hotbed for FinTech unicorns and tech innovation

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Payment challenges impact every aspect of airline operations, study shows

Read More

May 28, 2024

Chetwood Financial acquires CHL Mortgages for Intermediaries

Read More

May 28, 2024

UAE banks see strong start to 2024: credit outlay and deposits increase

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023