BMO Harris Bank has formed partnerships with AI software platform Genivity and financial wellness solution SpringFour.
Last year, Genivity was one of the three companies to win awards at BMO Harris/1871 FinTech Partnership program. Through the new partnership, Genivity will pilot its software with BMO Wealth Management’s US business in Chicago and Florida.
The deal with SpringFour will see its personal finance solution available to the customers of BMO Harris.
BMO has formed these partnerships to aid its digital transformation which include enhancing its own offerings but also leveraging partnerships to give customers new tools.
Genivity offers an AI software platform to help advisors engage with clients through this life stage, health risk and elder care cost planning. Its current solution, Genivity HALO, is an assessment service which builds a personalised cost projection of a client’s lifestyle, longevity and health costs.
BMO Wealth Management US president Darrel Hackett said, “Healthcare cost in retirement is a top concern for many of our clients, and with Genivity’s platform our team of advisors will not only be able to better prepare our clients in this area, but also manage the risks that come with planning for unforeseen circumstances. We value this new partnership and are excited to pilot the benefits with a segment of our clients.”
SpringFour is a financial health platform designed to help consumers improve their cash flow. The company offers two solutions S4Desktop and S2Direct. Its S4Desktop solution gives consumers access to service reps, financial counsellors, servicing agents and other professionals to help access tools to lower expenses and improve savings.
The S4Direct solution integrates with a business’ website or financial management platform to seamless user experience to improve financial management.
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