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BMO Harris Bank and Lively partner to offer personalized HSA experience

By Pavithra R

June 25, 2021

  • America
  • Bmo
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BMO Harris Bank and Lively partner to offer personalized HSA experience Lively, the creators of the modern Health Savings Account (HSA), has announced partnering with BMO Harris Bank, a part of BMO Financial Group, to bring a modern HSA experience to eligible individual BMO customers and commercial banking clients, making HSA arrangements for their employees and commercial customers through a new referral agreement.

Lively will deliver new HSAs for BMO customers providing them with a more engaging HSA experience that will help make real financial progress through powerful health savings tools.

“HSAs are at the forefront of innovation across finance and healthcare. Customer-centric companies like Lively and BMO know how important it is to challenge the legacy HSA experience by providing consumers with the financial tools needed to tackle rising healthcare costs both today and into the future. As Americans struggle to save due to rising healthcare costs and the aftermath of the pandemic, there’s never been a more important time to provide a personalized approach to healthcare finance. Working with a best-in-class financial institution like BMO will deliver that customer innovation on an incredible scale,” said Alex Cyriac, CEO and co-founder of Lively.

Besides leveraging Lively’s proprietary technology, BMO will realize cost savings in operations, compliance and support while continuing to hold deposits. The new BMO HSA delivered by Lively will offer multiple investment options, expand HSA features for account holders and administrators, and offer a modern HSA experience coupled with Lively’s renowned support.

“BMO is continually innovating to deliver a convenient customer experience when it comes to money management – including health care costs. This means constantly evaluating our suite of customer offerings to ensure we’re meeting our customers’ needs.

In addition to the new referral relationship, BMO will also make a strategic investment into Lively. Lively plans to use the capital to continue building its leading capabilities and increase its growth opportunities in the HSA market.

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