News Releases

TORONTO, August 15, 2008 – BMO Spend & Payment Solutions, a division of BMO Financial Group, announced today that it has been awarded a new contract by the Ontario Government to provide a fully integrated corporate travel and purchase card program that will enhance the Province's ability to track, analyze and manage purchasing and employee travel-related expenses.

The Province is now partnered with a single card issuer that will deliver an integrated solution that enhances reporting, controllership and cardholder compliance.

“The BMO card program will become an integral part of the Province's Single Sign-On Web Portal which enables employees to submit and reconcile work related expenses quickly and easily,” said Roman Zydownyk, Assistant Deputy Minister. Roman leads the Enterprise Financial Services Division of Ontario Shared Services for the government of Ontario.

“The Province of Ontario has been a valued strategic partner and we're delighted to continue working with them,” said Terry Wellesley, Managing Director of BMO Spend & Payment Solutions. “Together we have built a card program that will realize potential cost savings for the Province by streamlining their spend management functions and we're taking our card program to the next level by having it fully integrated into their Web Portal for employees."

“As a result, BMO is able to improve the efficiency of routine transactions in a common area already accessed online that minimizes steps employees must take to use their cards and reconcile expenses. This degree of functionality is increasingly in demand by corporate and government organizations,” Wellesley added.

The fully integrated solution for the Province will also work seamlessly with BMO's details Online, the bank's proprietary database for reporting, analysis and management that enables managers of corporate card programs to review employee spending in real time, enabling greater expense oversight, streamlined activities, and better cash flow for their business transactions.

“BMO has been a great partner. They helped design a highly efficient card program that meets the Province's business requirements,” said Roman Zydownyk. “They've consistently demonstrated that they have the scale to grow with us and can continue to help improve our operations year after year.”

BMO Spend & Payment Solutions is a Top 10 North American provider of advanced commercial and corporate card solutions that has continued to grow its commercial card business by partnering with large and mid-market corporations and public agencies in a range of industries throughout North America.

In April, BMO Spend & Payment Solutions announced that it had expanded its Canadian customer base in both the public and private sectors when it reached card-issuing agreements with four new card partnerships in British Columbia.

“We find that public sector organizations and corporations often have needs that intersect,” said Terry Wellesley. “They want to work with a card partner that can help them streamline purchasing and accounts payable functions, and apply spend controls that can be easily tracked.”

About BMO Spend & Payment Solutions
A division of BMO Financial Group, BMO Spend & Payment Solutions (formerly BMO ePurchasing Solutions) is a leading commercial card, spend and payment solutions provider in North America. BMO Spend & Payment Solutions' products are widely used by Corporations, non-profit and government sector organizations to manage, control and gain better visibility into their commercial spending.

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