BMO Harris Bank chooses FIS to power an expanded retail digital platform

By Pavithra R

BMO Harris Bank, a part of BMO Financial Group, has announced expanding its relationship with Financial service technology provider FIS with a major, multi-year program to transform its core banking systems to support the bank’s growth plans in the U.S.

As a FIS client, BMO will implement the FIS Modern Banking Platform to power an expanded retail digital platform, which will offer U.S. consumers a range of mobile-first deposit and checking accounts. The bank has significantly extended its retail footprint beyond the Midwest, with a national banking platform and accepting digital deposits in all 50 states.

“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,” said Victor Tung, U.S Chief Technology and Operations Officer, BMO.

The multi-year technology modernization program will provide BMO with greater agility to support its continued growth in the U.S. market, bring new products to market quickly, and increase operational efficiencies. The technology agreement also includes FIS Payments One, Digital One, the Code Connect application programming interface (API) gateway, and a range of call center, card production, and back-office managed services.

“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 U.S. market. We value our long partnership with this forward-looking bank and look forward to continuing to work with them,” said Bruce Lowthers, President, FIS.

Established in 1882, BMO Harris Bank provides a broad range of personal banking products and solutions. Its commercial banking team provides a combination of sector expertise, local knowledge and mid-market focus throughout the United States.