Boston, November 6, 2019 – Business banking complexity leads to real-world financial expenditure for banks and their enterprise customers alike. But simplifying front-end digital channels remains a challenge for most banks and in turn requires significant modernization of back-office infrastructure. Making digital channels in business banking simpler is a hard task that many banks continue to struggle with, but BMO’s Treasury and Payment Solutions team redefined and transformed its digital channels to simplify business banking and bring services in line with customer expectations.

Aite Group’s Impact Innovation Awards are designed to recognize and celebrate innovation achieved by financial institutions leveraging technology to surpass the status quo. Award recipients are leading the industry by identifying and implementing new products, capabilities, or levels of automation and effectiveness that are bringing our industry one step closer to next-generation banking. Other reports in this series feature Aite Group’s Impact Innovation Award in Cash Management and Payments for customer experience, customer experience for small businesses, customer experience by a global bank, customer experience in cards, operational efficiency, product development, and product development in real-time payments.

Clients of Aite Group’s Wholesale Banking & Payments service can download this nine-page Impact Brief. To learn more about the topic covered in this Impact Brief, please contact us at [email protected].