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Finn AI Launches Personal Banking Chatbot with BMO

Thursday, 15 March 2018 09:30 AM

New AI-Powered Virtual Assistant Provides Conversational Banking Platform via Facebook Messenger

VANCOUVER, BC / ACCESSWIRE / March 15, 2018 / Finn AI, the award-winning, conversational banking technology innovator, today announced it has partnered with The Bank of Montreal (BMO) to create a personal banking chatbot for their customers. This is the first ever public launch of a chatbot with a national, tier one, Canadian bank.

This latest launch by Finn AI reaffirms the company's commitment to help evolve how financial institutions interact with their customers.

''By leveraging artificial intelligence and the deepest banking domain expertise in the industry, Finn AI provides people with a simple, easy-to-use conversational banking platform so they can learn from their money and improve their financial literacy,'' said Jake Tyler, CEO, Finn AI. ''This product release is another example of the work Finn AI is doing with tier one banks from around the world to deliver superb, digital experiences to their customers.'', Thursday, March 15, 2018, Press release, Thursday, March 15, 2018, Press release picture

The virtual assistant will allow BMO to engage with their customers via natural language conversations, directly within their channel of choice - Canada's top instant messaging platform, Facebook Messenger1. In Canada, 84 percent of the population uses a smartphone to access Facebook2, with 38 percent performing mobile banking tasks from these devices.

''Our goal is to provide an exceptional customer experience and meet our customers where they are, and digital is increasingly becoming the preferred way for our customers to engage with us on a daily basis,'' said Brett Pitts, Chief Digital Officer, BMO Financial Group. ''The launch of this chatbot, and the integration of AI into our customer-facing technology provides an opportunity to build upon the relationships we have with our digitally active customers and create more convenient and personalized experiences through both self-service and assisted service channels.'', Thursday, March 15, 2018, Press release, Thursday, March 15, 2018, Press release picture

The content-rich virtual assistant, named BMO Bolt, is capable of answering 250 common inbound questions such as information on BMO products, foreign exchange rates, as well as branch locations and ATMs - with instant, 24/7 access to the personal banking chatbot.

The chatbot will learn to answer additional questions each time it interacts with a BMO customer, allowing the technology to continually evolve. For more complex queries or whenever the assistant is unable to help, BMO customers will be able to connect to a live social care associate during business hours. This transition will happen seamlessly within Facebook Messenger.

Customers can access BMO Bolt via BMO Facebook messenger on the BMO Financial Group Facebook page.

The partnership with BMO comes on the heels of a production launch with Banpro Grupo Promerica in Nicaragua and with the Canadian bank ATB Financial in late 2017. Finn AI also works with Commonwealth Bank of Australia and recently announced the hire of former Twitter executive Stephen Morse as Head of Global Strategic Accounts.

[1] Digital in 2018 Report: We Are Social & Hootsuite
[2] Digital in 2018 Report: We Are Social & Hootsuite

About BMO

Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $728 billion as of January 31, 2018, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.

About Finn AI

Finn AI is an award-winning, AI-powered virtual assistant built for personal banking and finance. We put a personal banker in every bank customer's pocket, helping them to manage their money wherever they are, whatever they need - via a simple natural conversation.

With customers on four continents, and delivering service in three languages, Finn AI and our team of data scientists, engineers, and financial industry experts are helping banks and credit unions transform customer engagement and increase financial literacy while delivering the convenience and savings of a digital-first experience.

For more information, please contact:

Media and Analyst Relations
Kristina Pereira Tully
Caliber Corporate Advisers
[email protected]
888.550.6385 ext. 5


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