mbanx (later BMO mbanx Direct) was a Canadian

virtual bank A direct bank (sometimes called a branch-less bank or virtual bank) is a bank that offers its services only via the Internet, email, and other electronic means, often including telephone, online chat, and mobile check deposit. A direct bank has no ...

that operated as a division of

Bank of Montreal The Bank of Montreal (BMO; french: Banque de Montréal, link=no) is a Canadian multinational investment bank and financial services company. The bank was founded in Montreal, Quebec, in 1817 as Montreal Bank; while its head office remains in ...

starting in 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 Online banking, also known as internet banking, web banking or home banking, is an electronic payment system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial inst ...

revolution, mbanx was deemed the "first North America-wide virtual, full-service bank";mbanx - Pioneering the Virtual Bank
Heather Smith, '' CIO Canada'', October 26, 2000 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 (legally Robert Dylan, born Robert Allen Zimmerman, May 24, 1941) is an American singer-songwriter. Often regarded as one of the greatest songwriters of all time, Dylan has been a major figure in popular culture during a career sp ...

's " The Times They Are a-Changin'". The advertisements used the

logotype A logo (abbreviation of logotype; ) is a graphic mark, emblem, or symbol used to aid and promote public identification and recognition. It may be of an abstract or figurative design or include the text of the name it represents as in a wordma ...

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 who did not transition to a local BMO branch continue to be serviced by a

direct banking A direct bank (sometimes called a branch-less bank or virtual bank) is a bank that offers its services only via the Internet, email, and other electronic means, often including telephone, online chat, and mobile check deposit. A direct bank has no ...

"branch" within the main bank.

References

External links

Official website
currently redirects to BMO.com Defunct banks of Canada Bank of Montreal Banks established in 1996 Banks disestablished in 2000 {{Bank-stub