BMO introduces AI Agent Assist for credit card call-centre staff

BMO announced on Nov. 6 in Toronto that it is introducing AI Agent Assist, an internal agentic AI tool for employees at its Virtual Connect contact centre who handle client calls about credit card transactions.2

BMO said the tool brings transaction information and guidance directly to employees, which reduces the time they spend navigating systems.2 BMO said it designed the tool on a 'human-in-the-loop' principle, and its client service team remains accountable for reviewing AI-generated information and making servicing decisions.23

According to BMO's news release, Virtual Connect receives more than 500,000 calls a year from Canadian clients about credit card transactions, and each call currently takes an average of 12-14 minutes to resolve.2

BMO said it aims to cut the time spent resolving eligible inquiries by 20-30 per cent for eligible calls and to process about 40 per cent of eligible credit refund requests automatically; the release does not say how many calls or requests count as eligible.2

The tool provides AI-enabled transaction matching, policy retrieval and case preparation for employee review, and BMO said that for qualifying inquiries clients could receive their credit as soon as the same day.2

BMO said it is designing the capabilities behind the tool for reuse across other client experiences and business processes, in support of its goal of more than $1 billion in AI-enabled revenue growth, productivity improvements and operating efficiencies by 2030.23