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BMO partners with Dynatrace to upscale digital banking capabilities
Thu, 15th Feb 2024

North America's eighth largest bank, BMO (Bank of Montreal), has partnered with unified observability and security company Dynatrace to scale its digital capabilities and deliver superior experiences to its customers worldwide. The partnership comes amid growing demand for digital banking interactions and focuses on refining operating efficiencies to boost customer loyalty.

Dynatrace's unified platform combines broad and deep observability and continuous runtime application security with Davis hypermodal AI to provide answers and intelligent automation from data at an enormous scale. This enables innovators to modernise and automate cloud operations, deliver software faster and more securely, and ensure flawless digital experiences. 

In this new partnership, the data acquired from Dynatrace's platform is enabling BMO to devise real-time accurate answers and ensure rapid issue resolution, which has culminated in an 80% decrease in the bank's mean time to identify problems and streamline root cause analysis timelines. Complementing traditional banking services, BMO is primarily hinging upon two of Dynatrace's technologies, Grail and Davis AI, to refine its digital services.

Angela Sim, Chief Technology, Resiliency, Experience and Operations Officer, BMO, remarks, "To drive our digital-first strategy and continue delivering speed and scale for our customers, BMO innovates rapidly and with confidence." The Dynatrace platform, Sim notes, has equipped her team to incorporate the principles of site reliability engineering and secure reliability at the core of the bank's digital services. This transformation has resulted in improved response time and increased service availability.

Grail, Dynatrace's data lakehouse, integrates, stores, and processes BMO's data, preserving the context of its originating environment. Dynatrace's Davis AI then capitalises on this unified data, delivering real-time accurate answers and allowing the Technology, Resiliency, and Experience Operations (TREO) team at BMO to identify, report, and resolve any issues instantly. "With the help of Dynatrace, we have significantly improved our response time and are increasing our continuous service availability," adds Sim.

Dynatrace has already demonstrated its efficacy; for instance, a task like log analytics, which previously necessitated time-consuming manual inputs, is now accomplished in mere seconds courtesy of Dynatrace's platform. Sim affirms, "The Dynatrace platform has already delivered significant benefits to BMO... In a rapidly evolving market, these efficiencies allow us to free up human resources, enabling employees to focus on delivering expert advice and strategic innovation."

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 over 13 million customers across Canada, the United States, and in select markets globally. 

In the expanding digital banking landscape, BMO's strategic collaboration with Dynatrace presents an intriguing example of leveraging advanced technology to offer customers an enhanced banking experience, highlighting the critical role of real-time, accurate data processing in the swift identification and resolution of banking issues.