LONDON, 15 JANUARY, 2025: BMO, North America’s 8th largest bank with total assets of $1.41 trillion, has renewed its contract for the FundApps Shareholding Disclosure platform with FundApps, the compliance monitoring and reporting specialists.
“As one of Canada’s largest banks, BMO is a highly diversified financial services provider operating globally and we are pleased to support it through another period of growth and expansion in North America. BMO continues to be an important part of the dynamic and engaged compliance community here at FundApps, which includes a growing contingency of sell-side institutions. Beneficial ownership continues to be a focus for regulators and the upcoming SEC changes are proof of that. The FundApps partnership with BMO will enable it to stay on top of ongoing regulatory change while also futureproofing its compliance monitoring,” said Andrew White CEO, FundApps.
In 2023, BMO completed its acquisition of Bank of the West, significantly expanding its operations and accessing new banking markets.
“The renewal of our partnership with FundApps reinforces our commitment to our clients through continued investments in compliance monitoring and risk mitigation. By introducing automation into our compliance monitoring and reporting processes, we've unlocked greater efficiency while ensuring consistency, transparency, and effectiveness. As we continue to build a digitally enabled, future-ready bank, we're confident in FundApps' ability to provide adaptable answers and protection that meets the needs of our colleagues and helps us drive real financial progress for the customers, clients and communities we serve,” said Susan White, Chief Information and Operations Officer, BMO Capital Markets and BMO Commercial Bank.
The FundApps suite of compliance monitoring solutions enables BMO to automate the monitoring and disclosure process for beneficial ownership reporting, takeover panels, and short-selling in more than 100 jurisdictions globally. BMO is able to aggregate its positions from entity to portfolio level across the enterprise.
FundApps Shareholding Disclosure notifies BMO of reportable positions and prepares short disclosures to be submitted to the relevant regulator. The compliance monitoring software is SaaS-based and enables BMO to constantly keep up-to-date with constantly changing regulations across the globe.
About FundApps
FundApps is a company powered by experts, with a client community of 1000s and a culture underpinned by ethics. We make the best regulatory software so our clients can “get a good night’s sleep now they have FundApps’ *[real client quote]
Many lawyers, ex-regulators, info sec and other experts work for the B Corp that is FundApps. We are all about future-proofing our compliance monitoring and reporting software so we can monitor the $20 trillion (and growing) of AuM across 100 jurisdictions for the industry’s most active and happy global compliance community [we get top notch NPS + CSAT scores year after year].
Good people, good business, good ethics. We are FundApps.
About BMO Financial Group
BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.41 trillion as of October 31, 2024. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to 13 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and inclusive society.
