BMO Uses AWS to Modernize Banking Platforms
Amazon Web Services (AWS), an Amazon.com company, announced that BMO Financial Group (BMO) has selected AWS as its preferred, strategic cloud provider.
BMO will use AWS to modernize its banking platforms and build digital financial services applications as part of the companyâs ongoing digital transformation. Using AWSâs extensive portfolio of cloud capabilities, including analytics, machine learning, serverless, compute, storage, and database, BMO will develop and scale digital platforms and services for its global customers, meeting and strengthening stringent security and compliance standards. In addition, BMO will launch a comprehensive, hands-on cloud skills training program for its non-technical and IT employees.
With over 12 million customers and $950 billion in assets, BMO is the eighth-largest bank in North America. The financial services company chose AWS for its comprehensive set of cloud technologies and proven reliability and operational experience, which will help the bank streamline its internal business processes, extract insights from decades of financial transaction data, and deliver secure applications and services to customers. BMO is moving strategic workloads to AWS that support its retail and commercial banking, investment banking, and wealth management operations. The bank is also migrating its online and mobile banking applications to AWS to innovate faster and set up an operating model that will enable broad and rapid cloud adoption; this includes creating a consolidated data lake, adopting serverless architecture, and deploying advanced capabilities like high-performance computing and machine learning. As part of its move to personalize services, the bank is using Amazon Connect (AWSâs easy-to-use, scalable cloud contact center) to provide a seamless and more customer-centric experience for its call center, as well as to support remote working capabilities for employees.
âWe continue to make bold moves at BMO to accelerate our digital transformation. AWSâs proven experience in the financial services industry is helping us advance our long-term strategy and deliver on our mission to innovate relentlessly on behalf of our customers,â said Steve Tennyson, Chief Technology and Operations Officer, BMO Financial Group. âAWS gives us the reliable global infrastructure we need to rapidly scale our business, as well as the comprehensive set of cloud capabilities to move faster and expand the use of analytics, machine learning, and high-performance computing across our entire operation.â
âBMO is reimagining banking and financial services, and embracing a cloud-first strategy that will help the company continuously develop new services for its customers,â said Matt Garman, Senior Vice President of Sales & Marketing at Amazon Web Services, Inc. âBy selecting AWS as its preferred cloud provider, BMO can rely on AWSâs scale, performance, and unparalleled portfolio of capabilities to drive innovation across its entire business to continue to differentiate its offerings and remain a leader in financial services.â
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