BMO Launches BMO Sync, Powering Progress for Businesses Via Embedded Banking
BMO has launched BMO Sync, a pioneering embedded banking solution that integrates BMO Online Banking for Business services directly with Enterprise Resource Planning (ERP) and accounting systems. The first-of-its-kind solution in Canada allows clients to connect and automate their banking activities in under 30 minutes.
Developed in partnership with FISPAN, BMO Sync offers key features including automated payable workflows, improved cash flow management with near real-time visibility, and automated transaction reconciliation. The solution is compatible with systems like QuickBooks Online and Sage Intacct®.
The launch represents a significant step in BMO's Digital First strategy, aiming to streamline business operations and reduce errors through API-powered embedded banking. The service is now available to BMO Online Banking for Business clients in both the U.S. and Canada.
BMO ha lanciato BMO Sync, una soluzione bancaria integrata innovativa che integra i servizi di BMO Online Banking for Business direttamente con i sistemi di Pianificazione delle Risorse Aziendali (ERP) e di contabilità. Questa è la prima soluzione del suo genere in Canada e consente ai clienti di connettere e automatizzare le proprie attività bancarie in meno di 30 minuti.
Sviluppato in collaborazione con FISPAN, BMO Sync offre funzionalità chiave tra cui flussi di lavoro automatizzati per i debiti, una gestione del flusso di cassa migliorata con visibilità quasi in tempo reale e riconciliazione automatizzata delle transazioni. La soluzione è compatibile con sistemi come QuickBooks Online e Sage Intacct®.
Il lancio rappresenta un passo significativo nella strategia Digital First di BMO, mirata a semplificare le operazioni aziendali e a ridurre gli errori grazie a una banca integrata alimentata da API. Il servizio è ora disponibile per i clienti di BMO Online Banking for Business sia negli Stati Uniti che in Canada.
BMO ha lanzado BMO Sync, una solución bancaria integrada pionera que integra los servicios de BMO Online Banking for Business directamente con los sistemas de Planificación de Recursos Empresariales (ERP) y contabilidad. Esta solución, primera de su tipo en Canadá, permite a los clientes conectar y automatizar sus actividades bancarias en menos de 30 minutos.
Desarrollado en asociación con FISPAN, BMO Sync ofrece características clave como flujos de trabajo automatizados de cuentas por pagar, una mejor gestión del flujo de efectivo con visibilidad casi en tiempo real y conciliación automática de transacciones. La solución es compatible con sistemas como QuickBooks Online y Sage Intacct®.
El lanzamiento representa un paso significativo en la estrategia Digital First de BMO, que busca simplificar las operaciones comerciales y reducir errores a través de la banca integrada impulsada por API. El servicio ya está disponible para los clientes de BMO Online Banking for Business tanto en EE.UU. como en Canadá.
BMO이 BMO Sync를 출시했습니다. BMO Online Banking for Business 서비스를 ERP(기업 자원 계획) 및 회계 시스템과 직접 통합하는 혁신적인 임베디드 뱅킹 솔루션입니다. 캐나다에서 최초의 이 솔루션은 고객이 30분 이내에 은행 활동을 연결하고 자동화할 수 있도록 합니다.
FISPAN과의 협력으로 개발된 BMO Sync는 자동화된 지불 워크플로우, 거의 실시간 가시성을 통한 개선된 현금 흐름 관리, 자동 거래 조정 등의 주요 기능을 제공합니다. 이 솔루션은 QuickBooks Online 및 Sage Intacct®와 같은 시스템과 호환됩니다.
이번 출시는 BMO의 디지털 우선 전략의 중요한 한 걸음을 나타내며, API 기반의 임베디드 뱅킹을 통해 비즈니스 운영을 간소화하고 오류를 줄이는 것을 목표로 합니다. 이 서비스는 이제 미국과 캐나다의 BMO Online Banking for Business 고객에게 제공됩니다.
BMO a lancé BMO Sync, une solution bancaire intégrée révolutionnaire qui intègre les services de BMO Online Banking for Business directement avec les systèmes de Planification des Ressources Entreprises (ERP) et de comptabilité. Cette solution, la première de son genre au Canada, permet aux clients de se connecter et d'automatiser leurs activités bancaires en moins de 30 minutes.
Développé en partenariat avec FISPAN, BMO Sync offre des fonctionnalités clés telles que des flux de travail automatisés pour les paiements, une gestion améliorée des flux de trésorerie avec une visibilité quasi en temps réel et une réconciliation automatique des transactions. La solution est compatible avec des systèmes comme QuickBooks Online et Sage Intacct®.
Ce lancement représente une étape significative dans la stratégie Digital First de BMO, visant à rationaliser les opérations commerciales et à réduire les erreurs grâce à une banque intégrée alimentée par API. Le service est désormais disponible pour les clients de BMO Online Banking for Business aux États-Unis et au Canada.
BMO hat BMO Sync gestartet, eine bahnbrechende eingebettete Banklösung, die die Dienste von BMO Online Banking for Business direkt mit Enterprise Resource Planning (ERP) und Buchhaltungssystemen integriert. Die erste ihrer Art in Kanada ermöglicht es den Kunden, ihre Bankaktivitäten in weniger als 30 Minuten zu verbinden und zu automatisieren.
Entwickelt in Zusammenarbeit mit FISPAN, bietet BMO Sync wichtige Funktionen wie automatisierte Zahlungsabläufe, verbesserte Cashflow-Management mit nahezu Echtzeit-Transparenz und automatisierte Transaktionsabstimmung. Die Lösung ist mit Systemen wie QuickBooks Online und Sage Intacct® kompatibel.
Die Einführung stellt einen wichtigen Schritt in BMOs Digital First-Strategie dar, die darauf abzielt, Geschäftsabläufe zu optimieren und Fehler durch API-gestützte eingebettete Bankdienstleistungen zu reduzieren. Der Service ist nun für Kunden von BMO Online Banking for Business sowohl in den USA als auch in Kanada verfügbar.
- First-to-market embedded banking solution in Canada
- Reduces operational time with 30-minute setup and automated workflows
- Expands digital banking capabilities through ERP integration
- Cross-border availability in both U.S. and Canadian markets
- None.
Insights
BMO's launch of BMO Sync marks a strategic milestone in the banking sector's digital transformation landscape. By enabling seamless integration with major ERP systems like QuickBooks Online and Sage Intacct, BMO is positioning itself at the forefront of embedded banking innovation. The 30-minute onboarding timeframe is particularly noteworthy, as it significantly reduces the traditional implementation cycles that typically span weeks or months.
The strategic implications are substantial: First, this positions BMO as a technology leader in the commercial banking space, potentially attracting tech-savvy business clients and improving client retention through deeper system integration. Second, the automation of payable workflows and real-time cash position visibility addresses critical pain points for treasury departments, potentially driving increased transaction volumes and fee income.
The partnership with FISPAN leveraging API technology demonstrates BMO's pragmatic approach to innovation - building on established technologies rather than developing proprietary solutions, which accelerates time-to-market and reduces development risks. This aligns with broader industry trends where banks are increasingly partnering with fintech firms to enhance their digital capabilities.
The cross-border availability in both U.S. and Canadian markets is particularly significant, as it provides BMO with a competitive advantage in serving multinational businesses and could drive market share gains in the lucrative commercial banking segment. This move also positions BMO to capture a larger share of the growing embedded finance market, which is projected to see substantial growth in the coming years.
- 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
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
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
About BMO Financial Group
BMO Financial Group is the eighth largest bank in North America by assets, with total assets of
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SOURCE BMO Financial Group
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