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Forbes names BMO among World’s Best Banks 2020

June 10, 2020 | Purpose, Recognition

For the first time,BMO has been recognized in both the U.S. and Canada on Forbes 2020 list of the World’s Best Banks.

The list is based on a survey of consumers who ranked banks on key attributes, including trust, fees, digital services and financial advice. Forbes partnered with Statista, a market research firm, to survey more than 40,000 customers in 23 countries on their current and former banking relationships.

“BMO is focused on helping customers make real financial progress as the economy recovers from the effects of the COVID-19 pandemic. Our customers are at the center of everything we do, especially during these extraordinary times,” said Ernie Johannson, BMO’s group head of North American personal and business banking. “As we continue to see a steady increase in our customers’ satisfaction, we are excited to be recognized by Forbes for BMO’s digital banking and more.”

Digital capabilities were referenced as critical to scores in Forbes’ summary of the results:

  • BMO continues to launch industry-first capabilities in Canada, including the ability to reset or change a MasterCard PIN via online or mobile banking. Two other firsts the team introduced over the last year were an automated bill paying process – BMO QuickPay – as well as a digital line of credit solution which provides customers with the option of applying for a line of credit securely on their mobile devices.
  • In the United States, BMO launched an enhanced digital and top-tier mobile banking platform in 2019, giving customers the feel of a local bank paired with digital capabilities expected from big banks. BMO is also industry leading in its approach to digital lending, and continues to innovate to exceed customer expectations.

To see the full list, visit Forbes website.

 Get the full view of recognition BMO has received on our Awards page.

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