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BMO HARRIS BANK AND LIVELY TO MODERNIZE HSA OFFERING WITH PERSONALIZED
EXPERIENCE

Leading North American bank expands its HSA technology

June 24, 2021 09:00 AM Eastern Daylight Time

SAN FRANCISCO & CHICAGO--(BUSINESS WIRE)--Lively, Inc., creators of the modern
Health Savings Account (HSA), today announced that it is working with BMO Harris
Bank (NYSE: BMO), to bring a modern HSA experience to eligible individual BMO
customers and commercial banking clients making HSA arrangements for their
employees and commercial customers through a new referral agreement. Beginning
this fall, new HSAs will be delivered by Lively, providing BMO customers with a
more engaging HSA experience that will help them make real financial progress
through more powerful health savings tools.

> “As Americans struggle to save due to rising healthcare costs and the
> aftermath of the pandemic, there’s never been a more important time to provide
> a personalized approach to healthcare finance. Working with a best-in-class
> financial institution like BMO will deliver that customer innovation on an
> incredible scale.”
> 
> Tweet this

According to Devenir, HSA assets doubled in the last three years to $82.2
billion held in over 30 million accounts, despite how unusual 2020 was for
consumers and health spending.

“HSAs are at the forefront of innovation across finance and healthcare.
Customer-centric companies like Lively and BMO know how important it is to
challenge the legacy HSA experience by providing consumers with the financial
tools needed to tackle rising healthcare costs both today and into the future,”
said Alex Cyriac, CEO and co-founder of Lively. “As Americans struggle to save
due to rising healthcare costs and the aftermath of the pandemic, there’s never
been a more important time to provide a personalized approach to healthcare
finance. Working with a best-in-class financial institution like BMO will
deliver that customer innovation on an incredible scale.”

Partnership Overview

BMO went through an evaluation process to decide how to best service and
personalize the HSA experience to unlock its full potential. In addition to
leveraging Lively’s proprietary technology, BMO will realize cost savings in
operations, compliance and support while continuing to hold deposits.

This relationship combines Lively’s industry-leading HSA solution with BMO’s
bold growth strategy. BMO continues to build a digital-first, future-ready bank
with solutions that allow customers across the United States to seamlessly bank
however, whenever is convenient for them. The new BMO HSA delivered by Lively
will offer multiple investment options, expand HSA features for account holders
and administrators, and offer a modern HSA experience coupled with Lively’s
renowned support.

“BMO is continually innovating to deliver a convenient customer experience when
it comes to money management – including health care costs. This means
constantly evaluating our suite of customer offerings to ensure we’re meeting
our customers’ needs,” said Paul Dilda, Head of Consumer Strategy at BMO Harris
Bank. “We have been impressed by Lively’s unprecedented growth and commitment to
putting customers first. Together, we will continue to help customers make real
financial progress.”

In addition to the new referral relationship, BMO will make a strategic
investment into Lively. Lively will use this additional infusion of capital to
continue building its leading capabilities and increase its growth opportunities
in the HSA market.

About Lively

Lively is the modern HSA experience built for—and by—those seeking stability in
the ever-shifting healthcare landscape. By harnessing modern innovation and deep
industry expertise, Lively is committed to bridging today's savings with
tomorrow's unknowns. Unlike traditional institutions hindered by bureaucracy,
Lively's commitment extends beyond initial set up to providing dedicated,
ongoing support and education for every step so each HSA can reach its maximum
potential with minimal headache. Lively is headquartered in San Francisco, CA
with additional offices in Boise, ID. For more information, please visit
livelyme.com or follow us on Twitter (@LivelyHSA).

About BMO Harris

BMO Harris Bank provides a broad range of personal banking products and
solutions through more than 500 branches and fee-free access to over 40,000 ATMs
across the United States. BMO Harris Bank's commercial banking team provides a
combination of sector expertise, local knowledge and mid-market focus throughout
the United States. For more information about BMO Harris Bank, visit the company
fact sheet. Accounts are subject to approval. BMO Harris Bank N.A. Member FDIC.
BMO Harris Bank is part of BMO Financial Group, a highly diversified financial
services provider with total assets of CDN$950 billion as of April. 30, 2021.




CONTACTS

Lively Contact
Jennifer Parson
lively@thekeypr.com

BMO Harris Contact
Laura Micheli
Laura.micheli@bmo.com


LIVELY, INC.

NYSE:BMO



#HASHTAGS

 * #BMOHARRIS
 * #LivelyHSA
 * #BMO
 * #BANKING
 * #HSA
 * #BANK
 * #HEALTHSAVINGSACCOUNT


SOCIAL MEDIA PROFILES

 * Lively/Facebook
 * Lively/Twitter
 * Lively/LinkedIn




MORE NEWS

 * June 15, 2021
   Lively Surpasses Half a Billion in Assets
 * May 18, 2021
   Lively’s Second Annual Wellness and Wealth Report Shows COVID-19 Accelerating
   Concerns Among Americans Over Rising Healthcare Costs
 * February 04, 2021
   Lively Releases 2020 Data Showing Volatile Healthcare Spending Due to
   COVID-19


CONTACTS

Lively Contact
Jennifer Parson
lively@thekeypr.com

BMO Harris Contact
Laura Micheli
Laura.micheli@bmo.com




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