BMO launches AI Agent Assist to speed up credit card transaction queries

BMO has introduced AI Agent Assist, an agentic AI tool that supports staff at its Virtual Connect contact centre when clients call about credit card transactions.

The tool matches transactions, retrieves policies and prepares cases, so employees switch between fewer systems and clients wait less on hold. BMO says it was built on a human-in-the-loop principle, so staff keep control of key decisions.

BMO receives more than 500,000 calls a year from Canadian clients about credit card transactions, with an average resolution time of 12 to 14 minutes. It targets a 20% to 30% cut in resolution time and automatic processing of about 40% of eligible credit refund requests, with qualifying cases credited the same day.