- Solution speeds up the bill payment process and helps to do away with late bill payments
TORONTO , Nov. 12, 2019 /CNW/ – BMO today announced the launch of BMO QuickPayTM, a new automated way for customers to pay their bills without needing to log into online or mobile banking. BMO QuickPay provides everyday banking customers with a frictionless way to pay their bills, while also putting them in complete control of the payment from start to finish.
“We’re continually looking for opportunities to deliver digital solutions that empower customers,” said Brett Pitts , Chief Digital Officer, BMO Financial Group. “With BMO QuickPay, we leveraged machine learning capabilities to introduce a consumer friendly solution that will help do away with late bill payments. This is another great example of how we’re looking for opportunities to reimagine everyday banking experiences, while keeping our customers at the heart of it.”
BMO QuickPay is designed to enable customers to email their bills to BMO, utilizing optical character recognition and machine learning capabilities to recognize the biller, account number, amount, and due date across a range of corporations and statement formats.
With BMO QuickPay, customers benefit from:
- Greater control: Customers have the ability to verify the payment amount before it leaves their account and are able to approve or cancel the transaction.
- 6X faster: The bill payment process is up to six times faster for customers than paying a bill manually.