Bank of Montreal (BMO) has become the first bank in North America to license Demica’s supply chain finance technology platform under a ‘white label’ agreement. The deal includes a range of support services including buyer integration and supplier onboarding.
“We are excited to be working with Demica as our strategic partner for supply chain finance services,” said Peter Grills, head of global trade at BMO. “We’ re impressed by the platform’s new features and functional simplicity and we look forward to offering this enhanced service to our customers.”
Maurice Benisty, chief commercial officer at Demica, described the agreement with BMO as, “An important step for Demica, as we grow our business in North America. We have established dedicated local resource to serve BMO and are very focused on delivery for them and their customers.”
BMO also works with PrimeRevenue as a partner in a deal announced in 2006.