Case Study: BMO achieves a competitive, mission-aligned HSA and increased cross-sell with Lively

How BMO Offers a Competitive, Mission-Aligned HSA That Drives Cross-Sell and Increases Deposits

BMO, a major North American bank, sought to enhance its Health Savings Account (HSA) offering, which was previously a limited, in-house product that lacked a modern user interface, investment options, and educational resources. This basic offering did not align with BMO's "one bank" mission to provide a full suite of services and acted as a barrier to cross-selling other banking products. To address this challenge, BMO partnered with vendor Lively to provide a superior HSA solution.

Lively implemented a co-branded HSA platform for BMO, featuring a modern dashboard, investment options from Charles Schwab and Devenir, and comprehensive educational resources. Lively also provided extensive sales enablement support, including training for BMO's team and joint prospect calls. This partnership allowed BMO to offer a competitive HSA that reinforced its brand, simplified the customer experience, and created new cross-selling opportunities. The solution helped BMO advance its mission, increase core deposits, and provide a product that could serve as a door-opener for new commercial client acquisitions.

BMO

Kelly Turnquist

Relationship Manager