BMO is among the first banks to collaborate with Codat to deploy its AI-powered insights to middle market clients.
LONDON and NEW YORK, May 5, 2026 – After nearly a decade building the data infrastructure connecting financial institutions to their business customers, Codat today announced the launch of a strategic repositioning and a new advisory intelligence platform purpose-built for commercial and business banks. As part of this launch, the company has entered into an agreement with BMO, making the bank among the first to collaborate on using Codat’s AI‑powered insights to personalize middle market client conversations and enhance advisory engagement.
A new vision for banking intelligence
Commercial banks face two compounding data problems: getting comprehensive, real-time financial data from their business customers, and turning it into actionable intelligence.
With IDC data showing 68% of enterprise data still untapped, the opportunity is clear. As business customers’ expectations grow, the most forward-thinking banks are investing in advisory intelligence to close the gap, helping relationship teams deliver more personalized, insight‑driven advisory engagement.
Advisory intelligence includes three main components: ongoing, on-demand access to business clients’ off-bank financial data; intelligent enrichment and analysis that transforms raw data into opportunities; and AI insights delivered exactly when and where they are needed.
Financial institutions are already seeing the value in this kind of intelligence. 70% of banks with more than $10B in assets have invested in data analytics platforms or capabilities in the past 18 months, according to a Bank Director survey.
“When Codat was founded, we set out to make business data accessible,” said Joey Rault, Chief Revenue Officer of Codat. “Today, we’re taking the next step: making it actionable.”
“Banks are realizing that winning in commercial banking means anticipating client needs, rather than just reacting to them. Advisory intelligence is the future of commercial banking, and we’re proud to be leading the charge.”
Purpose-built product suite
Alongside the strategic repositioning, Codat is introducing a purpose-built product suite with new AI features for commercial banking teams to help them grow revenue, enhance relationships, and simplify operations.
- FX Insights provides visibility into cross-border activity, payment flows, and currency exposure, enabling proactive hedging conversations that grow FX revenue and deepen client relationships.
- Spend Insights delivers comprehensive accounts payable (AP) visibility and rich supplier intelligence that drives higher card revenue and better supplier enablement conversion.
- Working Capital Insights helps treasury teams understand their clients’ complete financial picture needed to identify growth potential, build proposals, and close deals.
BMO collaboration
The company has entered an agreement with BMO, collaborating on the use of its Spend Insights capabilities to expand the bank’s ability to deliver personalized, data-driven card optimization insights that augment advisory conversations and automate spend analysis for middle market clients. BMO is among the first banks to work with Codat on applying these new AI‑enabled insights within a Commercial Card advisory context.
Through this collaboration, BMO treasury consultants can leverage AI-powered spend and supplier insights that enhance the quality and consistency of advisory conversations. By identifying suppliers that accept card payments and tailoring recommendations to individual client needs, they can position commercial card programs as part of broader treasury and payments discussions, unlocking meaningful opportunities for both clients and the bank.
“Our business clients expect insight-driven guidance that supports their growth and operational priorities. Through our collaboration with Codat, we’re able to bring advanced analytics and AI-powered insights into middle market conversations, strengthening our advisory approach and helping us deliver greater value to clients as their businesses grow.”
– Rose Grande, Head, North American Corporate Card Product & Programs, BMO
Rault concluded: “Banks today don’t always have the full picture when it comes to their business customers. Our collaboration with BMO demonstrates exactly what’s possible when institutions embrace advisory intelligence: faster time to value, stronger relationships, and a genuine competitive edge.”
About Codat
Codat provides an advisory intelligence solution purpose-built for modern commercial banking. Through rich, specialized data, forward-looking insights, and integrated workflows, Codat empowers banking teams to deepen their relationships, grow their revenue, and simplify their day-to-day work.
Founded in 2017 and backed by JPMorgan, PayPal, Amex, Plaid, and Shopify, Codat has successfully powered over 350,000 connections to business customers’ financial systems — and is trusted by industry leaders to turn scattered information into actionable, strategic advantages in real time, every time.
About BMO Financial Group
BMO Financial Group is the eighth largest bank in North America by assets, with total assets of $1.5 trillion as of January 31, 2026. Serving clients for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to approximately 13 million clients across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future, and stronger communities.