BMO Financial Group has announced the launch of its Real Financial Progress Hub, a digital platform that provides customers with access to personal finance advice, tools and resources to help them achieve their financial goals.
The hub lets customers to explore financial goals such as budgeting, saving, homebuying, retiring and building credit from one digital platform, per a Monday (Nov. 6) press release.
“For the first time, our customers can explore any financial goal and even multiple goals at once,” BMO Head of U.S. Consumer Strategy Paul Dilda said in the release. “We have brought all of our personal finance resources into one convenient spot to make financial progress easier.”
The Real Financial Progress Hub also includes the BMO Real Financial Progress Index, a quarterly indicator of how consumers feel about their personal finances and whether they are making financial progress.
BMO has also expanded its low- and no-cost offerings, available nationwide and supported in-person throughout the 22 states where BMO operates more than 1,000 branches. Those offerings include the BMO Savings Builder Account, offers rewards when savings goals are met. The BMO Smart Money checking account provides low fees and no overdraft fees, and the BMO Smart Advantage Checking Account has no monthly maintenance fee or minimum monthly balance requirements and offers unlimited transactions at ATMs nationwide.
Other offerings include the BMO SmartProgress online personal finance education platform, the BMO Total Look platform, the BMO CreditView service for accessing credit reports and building credit, BMO Cash Back Rewards Cards and the Credit Builder Account.
BMO Financial Group is the eighth largest bank in North America by assets, per the release, with total assets of $1.25 trillion as of July 31, 2023. The bank serves over 13 million customers across Canada, the U.S. and select global markets.
The collaboration is designed to provide real-time access to wages as they are earned, so employees can access their funds immediately through their direct-deposit accounts.