TORONTO, Sept. 29, 2022 /CNW/ - BMO's Innov8 program has ranked first in the Best Fintech Accelerator and Incubator Award category at the recent 2022 Finovate Awards. The recognition reflects BMO's commitment to deliver leading digital experiences for customers that help them make real financial progress.

Finovate's Best Fintech Accelerator and Incubator Award recognizes an accelerator or incubator that consistently nurtures quality fintech companies and supports them on their innovation journey. BMO's first-place ranking reflects the consistent delivery of high quality fintech solutions and its support of the broader innovation ecosystem.

"This recognition is a testament to our value-oriented approach to innovation, focused on developing leading digital experiences that help customers make real financial progress," said Peter Poon, Head of Canadian Digital Service and Innovation, BMO. "BMO's Innov8 program allows us to ideate, test, and, in many cases, commercialize market-leading concepts that exceed our customers' evolving digital expectations."

BMO was also a Finalist in the Best Customer Experience Solution category for the Automated Digital Enrolment solution, which was recognized for accelerating digital onboarding and engagement.

BMO InnoV8 Initiative

BMO's InnoV8 initiative was launched in 2017 with the goal of exploring, testing, and accelerating the commercialization of "seed stage" technologies that enhance the customer experience. The BMO Innov8 program has been behind the launch of many of BMO's leading digital capabilities, including CashTrack, CalendarPay, and QuickPay features.

The Finovate recognition adds to BMO's market-recognized track record for digital innovation, including:

  • Canada Mobile Banking Emerging Features Benchmark rankings (2022)
  • BAI Global Innovation Awards (2022)
  • Celent Model Bank Awards (2020)
  • Business Transformation and Operational Excellence Industry Awards (BTOES) (2020)

About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $1.07 trillion as of July 31, 2022, and a team of diverse and highly engaged employees, BMO 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, BMO Wealth Management and BMO Capital Markets.

SOURCE BMO Financial Group

Copyright 2022 Canada NewsWire

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