Dovetail delivers BMO Harris Bank payments upgrade
Andrew Irvine, BMO Financial Group
Payment systems specialist Dovetail has helped US-based BMO Harris Bank with the upgrade phase of its wire platform replacement project.
Dovetail’s solution provides “modular, out-of-the-box” payments processing capability that enables the bank to “improve in the short term while working towards an ultimate goal of full legacy replacement”, comments Martin Coen, CEO of Dovetail.
Dovetail is a long-standing supplier of payments software to BMO Harris’ parent, Canada-based BMO Financial Group.
The upgrade at BMO Harris is for payment processing for all of its customers in the US transacting wire payments. This also includes straight-through processing (STP), currency holiday processing, real-time Swift debit and credit advices, real-time FX rates, data reporting and account information.
Andrew Irvine, head of North American treasury and payment solutions, BMO Financial Group, says the upgrade was taken due to customer feedback and it represents a “significant investment in our business”.
Dovetail says the system helps BMO Harris to automate labour-intensive activities and make use of workflow monitoring tools to manage daily volumes.
BMO Harris Bank provides personal banking products and solutions through more than 600 branches and approximately 1,300 ATMs in Illinois, Wisconsin, Indiana, Kansas, Missouri, Minnesota, Arizona and Florida.
