BMO names Well Fargo veteran as its new Chief Digital Officer
The Bank of Montreal, operating as BMO Financial Group, has named Brett Pitts as its first Chief Digital Officer with the position having been newly created.
BMO currently stands as one of the largest financial groups within Canada, holding over $700bn in assets, providing financial services to approximately 12mn customers, with over 45,000 employees across its network.
Pitts has worked for Wells Fargo for 17 years, having held a number of senior digital positions within the US firm during this time, including his most recent employment as its Executive Vice President and Group Head of Digital.
"Brett is known for his deep industry expertise and for delivering innovative digital banking solutions," said Cameron Fowler, President, North American Personal and Business Banking, BMO Financial Group. "I am excited to have Brett join BMO and look forward to partnering with him to redefine our banking experiences and leverage the transformative power of digital across the bank."
In his new role, effective 30 November, Pitts will be required to lead the bank’s digital portfolio and oversee its North American digital operations, continuing to build upon the inroads that BMO has made by accelerating its digital agenda.
ServiceNow pumps millions into EU service compliance
ServiceNow, the digital workflow company, has announced a multimillion euro investment to help EU customers meet compliance requirements.
The legal, technical and organisational safeguards will help companies to comply with the the Schrems II judgment and European Data Protection Board (EDPB) Recommendations issued in June 2021.
ServiceNow’s investment means all EU-hosted data will be exclusively handled within the EU, and the cloud-hosted digital workflow provider claims its solution will come “without impact on current delivery and service”.
ServiceNow upgrade: free of charge
There will be no cost for current customers to opt in to the data compliance solution, even though ServiceNow is investing an unspecified multimillion euro sum and hiring more than 80 new staff across the bloc.
Mark Cockerill, vice president legal, EMEA and global head of privacy at ServiceNow, said: “With any regulation change, cloud services companies have a choice. They can adopt a ‘wait and see’ approach or get proactive and help customers and partners innovate. At ServiceNow we are on the front foot, continually investing in our customers, allowing them to operate with the highest level of choice and control over their EU data.
ServiceNow upgrade: ‘peace of mind’
“Our new EU-centric service delivery model will give our current customers and partners peace of mind. For customers and partners operating in highly regulated industries, or in the public sector, or those that have yet to make the switch to the cloud, this model gives them certainty and simplicity when selecting the cloud service that best suits their needs.”
Carla Arend, lead analyst, cloud in europe for IDC, said, “The Schrems II ruling has led European organizations to revisit their cloud-related data protection policies and processes when it comes to international data transfers through cloud services.
“Contractual, privacy, and security safeguards and the assurance that data will be kept and handled in the EU help European organizations to comply with European data protection laws while taking advantage of global cloud platforms. Vendors, such as ServiceNow, that invest to support their customers in response to this ruling are providing essential choice to their customers.”