BMO, the Bank of Montreal, has secured top honors on the global stage with its groundbreaking NewStart Pre-Arrival Account Opening program. The innovative digital banking initiative earned BMO two prestigious awards, affirming its position as a leader in the financial services sector.
Qorus and Accenture’s Banking Innovation Awards turn 10 and 2023 winners announced
In the Core Offering Innovation category, BMO clinched the Gold in the Qorus-Accenture Banking Innovation Award. This accolade underscores BMO's role in advancing the banking industry by exceeding customer expectations and setting new standards in core banking offerings.
The BAI Global Innovation Award recognized BMO for its transformative approach to digital innovation, particularly in enhancing the customer experience. The NewStart program stood out for its seamless account opening process, significantly easing the transition for newcomers immigrating to Canada.
Sumit Sarkar, Head of Customer Growth at BMO, expressed gratitude for the global recognition, emphasizing the bank's dedication to supporting newcomers. Gregory Brown, Head of North American Digital Product Management, highlighted BMO's commitment to pushing the boundaries of what's possible in digital banking.
The NewStart program underwent significant enhancements in April 2023, allowing for instant processing of pre-arrival account applications. This expansion also included residents from countries participating in the Government of Canada's Student Direct Stream accelerated visa application process.
BMO's digital leadership extends beyond these awards, including recognition as Fast Company's Best Workplace for Innovators in 2023 and top scores on the J.D. Power 2023 Online Banking Satisfaction Survey.
Empowering newcomers for financial progress, BMO's NewStart Program provides a suite of no-fee banking products. Paired with the BMO SmartProgress initiative, a free online financial education program, BMO continues to pave the way for a seamless and innovative banking experience globally.