BMO QuickPay Qorus Banking Innovation Awards 2019 - Winner

BMO QuickPay reinvents the way we pay bills by offering an innovative solution co-created with customers across their bill payment journey. The current process requires a customer to pay a bill weeks after they receive the statement, often on a channel different than the one they’ve received it (i.e., paper statement paid online). This highly fragmented experience increases cognitive load and forces a customer across multiple touchpoints, resulting in unhappy customers, millions of dollars in late bill charges, and thousands of costly full-service interactions. • 87% of Canadians have missed at least one bill due date in the past year • 91% of Canadians are not comfortable with preauthorized payments • 3+ million bills are paid late annually by BMO customers BMO QuickPay is a patent-pending, unique and automated experience that allows a user to pay a bill digitally without ever opening their mobile banking app or logging into online banking services. The “Zero UI” solution is designed to be as frictionless as possible - the customer simply forwards emails, PDFs and even photos of paper bill statements to a BMO email address. Then, AI & machine learning capabilities are applied to recognize all the bill details across a range of corporations and statement formats as well as models to keep the customers and the bank safe. The customer then receives a text message to confirm their bill details, with a choice to pay the bill immediately.