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Bank of Montreal: My BMO Info, artificial intelligence at the heart of digital strategy

Dernière mise à jour : 11 nov. 2021

By Trusted Magazine editorial team.

The Bank of Montreal (BMO) focused on digital innovation and launched "My BMO Info", a solution powered by artificial intelligence to help customers manage their daily finances and cash flow and provide them with personalized banking information. Fully integrated with the mobile experience, My BMO Info uses artificial intelligence (AI) to provide personalized, automated and actionable information to everyday banking customers. "For all of our digital solutions, we are focused on finding ways to create value for customers and change the way they interact with their bank," as recently stated by the bank's top management. The bank is in fact committed to harnessing the power of AI to help customers manage their finances. In addition, My BMO Pulse helps customers take control of their finances and better develop their savings skills. With the solution, customers will enjoy the following benefits:

  • Customised tips: by leveraging the power of AI, customers can receive more than 20 pieces of information tailored to their personal accounts, including tips on saving money, spending habits and personal cash flow;

  • Actionable intelligence: Rather than simply capturing everyday behaviours, My BMO Info will provide customers with actionable channels and flows to help them stay on top of their personal finances. For example, the solution offers the ability to transfer funds to a savings account when there is enough money in a chequing account to cover expenses;

  • Self-learning platform: thanks to an integrated learning algorithm, over time, the platform will improve the selection and prioritisation of each client's information.

The solution is powered by the Personetics Engage application, which combines artificial intelligence, predictive analytics, natural language understanding and machine learning technologies to create a highly engaging customer experience.

As part of the health crisis, and to help customers bank remotely with confidence, BMO has introduced the ability to reset or change a MasterCard PIN through Online or Mobile Banking. In addition, the Bank offers a number of remote credit card management features, including credit card PIN resets, fee challenges through Online Services, credit score verification and simulation, and remote credit card blocking or unblocking and replacement. In the past year, the Bank also introduced two innovations by introducing the automated bill payment process, BMO's QuickPay feature, and a digital line of credit solution that gives customers the ability to securely apply for a line of credit on their mobile devices.

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