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BMO Turns to Agentic AI to Resolve Card Issues

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BMO Turns to Agentic AI to Resolve Card Issues

BMO is employing an artificial intelligence (AI) agent to help clients resolve credit card transaction issues.

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The bank’s AI Agent Assist, announced Friday (Nov. 6), is designed for in-house use by employees and uses agentic AI to help those workers spend less time navigating systems as they assist clients who contact BMO’s Virtual Connect contact centre about their credit card transactions.

“Each year, BMO’s Virtual Connect contact centre receives more than 500,000 calls from Canadian clients about credit card transactions, with each call currently taking an average of 12-14 minutes to resolve,” the Toronto-based bank said in a news release.

With AI Agent Assist, BMO said it hopes to lower the time spent to resolve client inquiries by 20% to 30% and to process about 40% of eligible credit refund requests automatically.

“As a result, in the case of qualifying inquiries clients could receive their credit as soon as the same day,” the release said.

According to the release, the tool brings “AI-enabled transaction matching, policy retrieval and case preparation” straight to workers for review, helping them respond faster and reducing the need to place customers on hold.

“When clients call us about a credit card transaction, they want clarity and a quick resolution,” said Holly Jackson , who heads Virtual Connect. “AI Agent Assist gives our employees the information and guidance they need, so they can spend less time moving between systems and more time helping the client.


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