Seamless integration with leading Enterprise Resource Planning and accounting systems to offer clients a more efficient way to manage accounts payables and reconciliation tasks
BMO, in partnership with FISPAN, has announced the launch of BMO Sync, a solution that integrates BMO Online Banking for Business services directly into Enterprise Resource Planning (ERP) and accounting systems such as QuickBooks Online, Sage Intacct, and other leading ERPs. In a few simple clicks, this solution enables Online Banking for Business clients to automate common tasks and access their banking activity in one place, boosting efficiency and saving time. This solution is the first of its kind in Canada.
Financial Technology Insights: The Digital Divide: Overcoming Technological Barriers for Financial Inclusion
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.”
Financial Technology Insights:ZK International’s XSigma Corp. Plans to Launch XSigma Wallet
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.”
Financial Technology Insights:IoTeX Launches DePIN AI Reserve to Empower Token Holders
“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 U.S. and Canada who are using leading ERP and accounting systems
To share your insights with the FinTech Newsroom, please write to us at news@intentamplify.com
Source: prnewswire
