Under the terms of the deal, Strands Personal Finance has deployed its PFM service for BMO Financial Group’s online banking customers. The service, dubbed BMO MoneyLogic, is set to provide users with tools to manage and control their finances.
The tool is set to make available a set of options, such as automatic categorization of expenses, budgeting and saving goals, alerts and reporting, thus enabling BMO’s online customers to have access to a dashboard view of their financial data.
US-based financial services group BBVA was the first financial institution to implement Strands PFM service in 2008, followed by Netherlands-based financial institution ING in 2010.
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