- Seamless integration with leading Enterprise Resource
Planning and accounting systems to offer clients a more efficient
way to manage accounts payables and reconciliation tasks
- Clients can connect and start using their accounts in under
30 minutes, freeing up time to grow their business
- Solution is first-to-market in Canada, revolutionizing integrated banking for
BMO clients on both sides of the border
TORONTO and CHICAGO, Feb. 4, 2025
/PRNewswire/ - BMO, in partnership with FISPAN, has announced the
launch of BMO Sync, a solution that integrates BMO Online
Banking for Business services directly into Enterprise Resource
Planning (ERP) and accounting systems such as QuickBooks Online,
Sage Intacct®, and other leading ERPs. In a few simple clicks, this
solution enables Online Banking for Business clients to automate
common tasks and access their banking activity in one place,
boosting efficiency and saving time. This solution is the first of
its kind in Canada.
Key features of BMO Sync include:
- Automated payable workflows, eliminating the need for
cumbersome file uploads and streamlining wire and domestic
electronic payment processing.
- Improved cash flow management and decision making with
near-real time cash position and transaction visibility.
- Easy onboarding so clients can get connected and automate
payments in under 30 minutes.
- Improved reconciliation with bank feeds, which automatically
import transactions into the ERP's reconciliation module.
"BMO Sync is a key component of our Digital First
strategy, which delivers leading digital experiences to our
clients," said Sean Ellery, Head,
Digital & Innovation, BMO Commercial Bank. "Embedding our
banking services within our clients' systems helps them save time,
reduce errors, and focus on what's most important to them – growing
their businesses."
BMO and FISPAN's partnership on BMO Sync is one of
several ways BMO is leveraging the power of its APIs (Application
Programming Interface) to offer more embedded banking options to
its clients.
"FISPAN is another example of BMO securing partnerships with
providers who help us bring industry-leading technologies and
capabilities to our clients," said Gurreet Sidhu, CIO, Treasury and
Payment Solutions at BMO. "Because their open architecture
simplifies and expedites direct integration with ERP systems, we
were able to build and deliver BMO Sync to our clients in
record time."
"Leading financial institutions are recognizing embedded banking
as a cornerstone of their treasury services roadmap," said
Lisa Shields, CEO at FISPAN. "We are
thrilled to be working with BMO to help their clients efficiently
manage their working capital."
BMO Sync is now available to BMO Online Banking for
Business clients in the U.S. and Canada who are using leading ERP and
accounting systems. Click here to learn more.
About FISPAN
FISPAN, the industry leader in banking connectivity, partners with
financial institutions to provide turnkey solutions that seamlessly
integrate with ERPs and accounting software. These integrations
automate workflows, enhance visibility, and strengthen security for
businesses. With more than 3,700 businesses on its platform and an
annual payment volume exceeding $71
billion, FISPAN continues to set the standard for banking
connectivity solutions.
About BMO Financial Group
BMO Financial
Group is the eighth largest bank in North America by assets, with
total assets of $1.41 trillion as of October 31, 2024. 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 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.
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content:https://www.prnewswire.com/news-releases/bmo-launches-bmo-sync-powering-progress-for-businesses-via-embedded-banking-302367414.html
SOURCE BMO Financial Group
