The Bank of Montreal has launched a new service that allows customers to sign up for a new bank account using their smartphones.
BMO says the initiative is the first of its kind from a major Canadian bank and will allow potential clients to open a new account with their smartphones in under eight minutes, without having to download an app or visiting a local branch. In a statement, BMO’s Head of North American Channels Niti Badarinath said:
“Mobile is increasingly important for customers to address their banking needs, and this service is another way we’re using our digital capabilities to empower our customers and simplify their lives. This customer-centric, mobile-first design provides a seamless user experience. It’s an example of how we’re quickly bringing to market solutions that are focused on streamlining banking processes.”
The bank collects customers’ social insurance numbers in order to comply with anti-money laundering laws and know-your-client rules that require the to verify customer identities.
To open an account, visit www.bmo.com/banking on your mobile device to get started.