Direct integration with BMO Online Banking for Business offers customers a more efficient way to manage their banking transactions
The partnership highlights BMO’s strategy to offer innovative Open Banking solutions to business customers
TORONTO And CHICAGO, November 17, 2022 /CNW/ – BMO and FISPAN have partnered to offer BMO Online Banking for Business customers direct access to their day-to-day banking activities from their enterprise resource planning (ERP) or accounting system.
By integrating payments, reporting and reconciliation with these systems, customers now have an easier and more efficient way to execute and manage their business transactions.
Without leaving their ERP system, BMO business customers will be able to:
View account and balance information in real time
Send wire transfers and other domestic electronic payments
Automatically reconcile their transactions
“We recognize that our customers have competing needs and as their banking partner, we are focused on helping them move forward by providing simple and seamless solutions,” he said Sean Ellery, Head of Digital and Innovation, Commercial Banking, BMO. “This partnership aligns perfectly with our commitment to providing leading digital experiences for our customers, giving them more time to focus on what matters most – growing their business.”
This partnership represents BMO’s continued investment in leveraging the power of Open Banking to tailor its services to the diverse needs of its Commercial Banking clients:
BMO recently announced a partnership with Xero that allows corporate customers to connect and manage their Online Banking and Xero accounts
BMO’s developer portal makes banking APIs available to customers who want to build custom integrations between their business systems and BMO accounts
“We are excited to work with BMO on these integrations,” he says Lisa Shields, Chief Executive Officer, FISPAN. “We share BMO’s emphasis on innovation and a better business banking experience for its customers, making this partnership a perfect fit.”
“FISPAN’s open architecture simplifies and accelerates direct integration into ERP systems,” said Gurreet Sidhu, CIO, Treasury and Payment Solutions, BMO. “This partnership is another example of BMO securing industry-leading partnerships with suppliers that help us meet the growing needs of our customers.”
BMO is leading the way as a future-ready, digitally-enabled bank by leveraging the potential of emerging technologies for real-time computing and information. As the industry moves towards Open Banking, BMO supports customers by building a robust API infrastructure, backed by security, to enable safe and secure financial decisions.
About BMO Financial Group
Serving customers for 200 years and counting, bm extension is a highly diversified financial services provider – the eighth largest bank, by assets, in North America. With total assets of $1.07 trillion as of July 31, 2022and a diverse and highly committed team of employees, bm extension provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, bm extension Wealth management e bm extension Capital markets.
FISPAN is the market leader in ERP-banking. Our turnkey platform makes it easy for banks to offer business banking services integrated into their customers’ business application. FISPAN powers the best commercial banking experiences by removing friction and adding value to how bank customers run their business. Founded in 2016, FISPAN is based in Vancouver, BC and led by the CEO and founder, Lisa Shields. To learn more, visit fispan.com.
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SOURCE BMO Financial Group
See original content: http://www.newswire.ca/en/releases/archive/November2022/17/c5732.html