More NewsBMO Combines Treasury and Payments Division

BMO Combines Treasury and Payments Division

Canada’s Bank of Montreal (BMO) has launched a combined treasury and payments division, as part of an initiative to help corporate clients tackle their increasingly complex treasury and payments challenges.

BMO began exploring the idea of combining its traditional treasury/cash management business with its corporate card organisation last year, said Kevin Kane, BMO’s managing director and head of sales for treasury and payment solutions in the US.

“The more we listened to what our clients and prospects were telling us, we really wanted to bring those two teams together,” said Kane.

“Things are getting more complex; the pace of change is picking up, especially with the evolution from paper to electronic in the payments space. We interpreted those macro trends and listened to their corporate objectives and came forward with ideas to simplify and streamline their payments environment.

“We look at their disbursement side, the payments distribution, how many vendors they have, the suppliers they work with, how they use automated clearing house [ACH] and payments cards, and then analyse that and make recommendations of where they can gain savings and process improvements.”

Related Articles

Infosys Finacle to power Santander UK’s international cash management system

More News Infosys Finacle to power Santander UK’s international cash management system

4w The Global Treasurer
Preparing for GDPR? Here’s four things to consider

More News Preparing for GDPR? Here’s four things to consider

4m Elliott Wiseman
Cash flow in focus for investors

Cash Management Cash flow in focus for investors

5m Conor Deegan
Treasury TV: Karen Pugsley, Domino's Pizza Group

More News Treasury TV: Karen Pugsley, Domino's Pizza Group

5m Victoria Beckett
Treasury TV: Yeng Butler compares US and European MMF reforms

Compliance Treasury TV: Yeng Butler compares US and European MMF reforms

5m Victoria Beckett
Treasury TV: Tim de Knegt, The Port of Rotterdam

10 Minutes With The Treasury Treasury TV: Tim de Knegt, The Port of Rotterdam

6m Victoria Beckett
Banks are selling clients short with short dated cash deposit U-turns

Banking Banks are selling clients short with short dated cash deposit U-turns

6m Victoria Beckett
What does sterling’s Brexit boost mean for UK manufacturers?

More News What does sterling’s Brexit boost mean for UK manufacturers?

6m Tasja Botha