BMO will leverage the AWS to modernise its banking platforms and power its digital transformation into a cloud-first organisation


Bank of Montreal Head Office. (Credit: Pierre5018/Wikipedia.)

BMO Financial has selected Amazon Web Services (AWS) as its preferred, strategic cloud provider to modernise its banking platforms and develop digital financial services applications for its ongoing digital transformation.

The company will leverage AWS’s portfolio of cloud capabilities, including analytics, machine learning, serverless, compute, storage, and database.

It will develop and scale digital platforms and services for its global customers, meeting severe security and compliance standards.

Also, the Canadian financial services company aims to roll out a complete, hands-on cloud skills training programme for its non-technical and IT employees.

BMO Financial Group chief technology and operations officer Steve Tennyson said: “We continue to make bold moves at BMO to accelerate our digital transformation.

“AWS’s 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.

“AWS 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.”

BMO has selected AWS’s cloud technologies to streamline its internal business processes, extract insights from decades of financial transaction data, and deliver secure applications and services to customers.

The company will transfer its strategic workloads in retail and commercial banking, investment banking, and wealth management operations to AWS.

Also, it is migrating its online and mobile banking applications to AWS to create a consolidated data lake, adopt the serverless architecture, and deploy advanced capabilities.

The bank will use Amazon Connect to provide an easy and more customer-centric experience for its call centre, in addition to supporting remote working capabilities for employees.

Amazon Web Services sales and marketing senior vice president Matt Garman said: “BMO is reimagining banking and financial services, and embracing a cloud-first strategy that will help the company continuously develop new services for its customers.

“By selecting AWS as its preferred cloud provider, BMO can rely on AWS’s 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.”