BMO joins forces with Personetics to empower customers in achieving their financial savings aspirations

North American bank sees success with Personetics AI-powered savings solution, helping customers reach financial milestones.

Personetics has announced the success of BMO’s Savings Amplifier offering. The BMO Savings Amplifier offering has helped tens of thousands of BMO customers set over 100,000 savings goal targets through the BMO Mobile app. BMO customers have rated the Savings Amplifier offering 4.7 out of 5 stars.

The exceptional rating reflects the programme’s effectiveness in helping customers achieve their savings goals and make real financial progress.

In 2022, BMO partnered with Personetics to build an AI-powered savings solution within its mobile banking app. With competitive interest rates, unlimited no-fee, self-serve transfers and no minimum balances or monthly fees, the BMO Savings Amplifier offering is designed to empower customers to take control of their savings journey by enabling them to open new savings accounts online, set personalised savings goals, establish automated transfers to advance their goals and monitor their progress through the BMO Mobile Banking app.

The transfers maintain a minimum balance selected by the customer

With a few clicks, customers can build savings and gain visibility into achieving their financial dreams, all directly within the familiar BMO Mobile Banking app.

Peter Poon, Head & VP, Digital Self-Service, Innovation & Technology, BMO, said: “This solution demonstrates BMO’s continued commitment to support evolving customer needs and empower them to make real financial progress. Collaborating with Personetics has helped us turn data into clear, actionable insights that empower our customers to conveniently manage their finances, and confidently achieve their financial goals.”

Jody Bhagat, President of the Americas at Personetics, commented: “Through automated fund allocation, goal-based targets and personalised nudges, Personetics is bringing leading solutions to BMO, helping them to empower their customers to save efficiently. BMO wanted a state-of-the-art personalised engagement solution, and our experienced team did even more by launching a programme that was simple and intuitive for customers.”

Originally published on Retail Banker International, 1 November 2024: https://www.retailbankerinternational.com/news/bmo-partners-with-personetics-to-help-customers-reach-personal-savings-goals/?cf-view