Mbanx
Encyclopedia
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| Canada Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean... virtual bank Virtual bank A direct bank is a bank without any branch network. It offers its financial services by:* Telephone banking* Online banking* Automated teller machines * Mail banking* Mobile banking... |
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| Bank of Montreal The Bank of Montreal , , or BMO Financial Group, is the fourth largest bank in Canada by deposits. The Bank of Montreal was founded on June 23, 1817 by John Richardson and eight merchants in a rented house in Montreal, Quebec. On May 19, 1817 the Articles of Association were adopted, making it... |
mbanx (later BMO mbanx Direct) is a Canadian
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
virtual bank
Virtual bank
A direct bank is a bank without any branch network. It offers its financial services by:* Telephone banking* Online banking* Automated teller machines * Mail banking* Mobile banking...
that has operated as a division of Bank of Montreal
Bank of Montreal
The Bank of Montreal , , or BMO Financial Group, is the fourth largest bank in Canada by deposits. The Bank of Montreal was founded on June 23, 1817 by John Richardson and eight merchants in a rented house in Montreal, Quebec. On May 19, 1817 the Articles of Association were adopted, making it...
since October 1996. "mbanx" was erroneously thought by some to be a new brand name for the entire bank, as BMO focused virtually all its marketing efforts on the new unit during its first few months.
Developed at the start of the Internet banking revolution, mbanx was deemed the "first North America-wide virtual, full-service bank"; it had no branches and was run separately from BMO proper. It launched to much fanfare, with an advertising campaign featuring Bob Dylan
Bob Dylan
Bob Dylan is an American singer-songwriter, musician, poet, film director and painter. He has been a major and profoundly influential figure in popular music and culture for five decades. Much of his most celebrated work dates from the 1960s when he was an informal chronicler and a seemingly...
's "The Times They Are a-Changin'
The Times They Are a-Changin' (song)
"The Times They Are a-Changin" is a song written by Bob Dylan and released as the title track of his 1964 album, The Times They Are a-Changin. The song was ranked #59 on Rolling Stones 2004 list of The 500 Greatest Songs of All Time....
". The advertisements used the logotype form mbanx.
However, by the early 2000s, BMO and all other major Canadian banks had integrated Internet banking into their regular, branch-based services, making mbanx redundant. As a result, BMO has not advertised under the mbanx name since 2001 or earlier, and the division was eventually reabsorbed into the bank's main operations. Former mbanx customers now receive services under the BMO banner; those that did not transition to a local BMO branch continue to be serviced by a direct banking "branch" within the main bank.
External links
- Official website; currently redirects to BMO.com