- Exclusive banking partnership will help Canadian newcomers
access digital tools and resources to support their financial
journey.
TORONTO, Jan. 23,
2024 /CNW/ - BMO is helping newcomers to
Canada make real financial
progress through a new, strategic partnership with PeaceGeeks, a
non-profit organization that developed "Welcome to Canada," a free, multilingual mobile app that
helps newcomers find trusted, relevant information and personalized
recommendations to plan their new journey.
As the organization's exclusive banking partner, BMO will
provide newcomers access to trusted online resources, capabilities,
and educational content to support financial literacy as they
establish their lives in Canada.
Content on the "Welcome to Canada" app's banking section will cover
topics including an introduction to Canadian banking terms and
financial products, how to build credit history, and tips for
establishing savings habits and building long-term wealth. The
mobile app also seamlessly directs newcomers to banking products
and services, locates nearby bank branches, and will soon help with
booking appointments with financial advisors at BMO.
"BMO's commitment to supporting newcomers at every step of their
financial and personal journey is grounded in our Purpose, to
Boldly Grow the Good in business and life," said
Sumit Sarkar, Head, Customer Growth,
BMO. "BMO's partnership with innovative organizations like
PeaceGeeks makes it easier for newcomers to find and use free and
trusted financial information to help them make real financial
progress as they embark on the next chapter of their lives in
Canada."
"When newcomers arrive in Canada, they have a world-class system of free
public and private resources to support them," said Jennifer Freeman, CEO, PeaceGeeks. "However,
many people are unaware of those resources, and miss valuable
opportunities – to find employment, better understand Canadian
banking systems, improve their English or French, or upskill their
education – which can make moving to Canada easier. Welcome to Canada puts personalized information to
navigate their journey and hit the ground running in the palm of
newcomers' hands. We are pleased to be partnering with BMO to
ensure financial literacy and access to banking is as easy as
possible for newcomers."
Through BMO's exclusive relationship, those considering,
planning, or who have recently moved to Canada can access personalized financial
information and recommendations catered to their individual
priorities and needs for different cities and provinces, including
cost of rent and childcare. Currently available in Alberta, British
Columbia, Manitoba,
Ontario and Saskatchewan, the app's content is accessible
in 10 languages, including English, French, Arabic, Chinese,
Punjabi and more.
BMO continues to pave the way as a digitally enabled,
future-ready bank focused on delivering leading digital experiences
that help newcomers to Canada make
real financial progress. In 2023, BMO's New to Canada program was recognized for Best Use of
Tech in Retail Banking from the Banking Tech Awards, an
organization that celebrates key developments and innovation in
banking, finance and technology. In December
2023, BMO's NewStart® Pre-Arrival Account Opening
program received the BAI Global Innovation Award and
Qorus-Accenture Banking Innovation Award, underscoring BMO's
ongoing efforts to pioneer advancements in digital banking and
reflecting the bank's mission to provide an exceptional banking
experience beyond borders.
BMO Helps Newcomers to Canada
Make Real Financial Progress
- BMO's NewStart Program: The BMO NewStart program
provides customers with a suite of best-in-class, personalized,
no-fee banking products, including chequing and savings accounts,
customized mortgage options, access to a credit card with no credit
history, investments, and worldwide money transfers to establish
their finances.
- Pre-Arrival Account Opening Program: BMO's industry
leading digital banking program allows online applicants in
eligible jurisdictions to have their BMO Pre-Arrival bank account
applications processed instantly. The program also enables
applicants from 13 countries to open a bank account and an
International Student GIC if eligible, before they arrive in
Canada, making their financial
transition easier and quicker.
- BMO SmartProgress: To help with their transition, BMO
SmartProgress is a free online financial education program that
provides newcomers with a customized, on-demand, and interactive
learning experience. This financial literacy platform is geared to
help educate newcomers on the Canadian banking system and assist
them in creating good financial habits while they start their new
lives. It features bite-sized content, including videos and tools,
to give newcomers a better understanding of complex financial
topics, including budgeting and credit management, homeownership,
and investing in their future.
- BMO Newcomer Talent Program: BMO's Newcomer
Talent Program is a recruitment program for displaced persons,
immigrants, and refugees, providing support and creating employment
opportunities for newcomers to Canada and the
United States. This program includes personalized
recruitment pages that make it easy for jobseekers to introduce
themselves to BMO and explore job opportunities in both
Canada and the United States.
To learn more about how BMO can help customers make financial
progress visit www.bmo.com/main/personal.
About BMO Financial Group
BMO Financial Group is the
eighth largest bank in North
America by assets, with total assets of $1.3 trillion as of October 31, 2023. Serving customers for 200 years
and counting, BMO is a diverse team of highly engaged employees
providing a broad range of personal and commercial banking, wealth
management, global markets and investment banking products and
services to over 13 million customers across Canada, the United
States, and in select markets globally. Driven by a single
purpose, to Boldly Grow the Good in business and life, BMO
is committed to driving positive change in the world, and making
progress for a thriving economy, sustainable future, and inclusive
society.
SOURCE BMO Financial Group