Discover how Bank of Montreal revolutionized its services to adopt a real-time payments solution.
Legacy financial institutions are now facing major competition from new market participants. International banks, fintechs and emerging payment processors all pose a challenge. But knowing that the introduction of competitors could be an opportunity, not a threat, Bank of Montreal (BMO) invested in a payments hub that would allow it to welcome global, real-time, cross-border payments.
BMO has already seen short-term benefits and predicts there will be “cost per payment” savings on future implementations and increased productivity generated through greater efficiency and leaner implementations.
Read about the catalysts for this change, challenges faced, lessons learned and upcoming plans in this case study.
