Artificial Intelligence | News | Insights | AiThority
[bsfp-cryptocurrency style=”widget-18″ align=”marquee” columns=”6″ coins=”selected” coins-count=”6″ coins-selected=”BTC,ETH,XRP,LTC,EOS,ADA,XLM,NEO,LTC,EOS,XEM,DASH,USDT,BNB,QTUM,XVG,ONT,ZEC,STEEM” currency=”USD” title=”Cryptocurrency Widget” show_title=”0″ icon=”” scheme=”light” bs-show-desktop=”1″ bs-show-tablet=”1″ bs-show-phone=”1″ custom-css-class=”” custom-id=”” css=”.vc_custom_1523079266073{margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}”]

Bank of Montreal Introduces AI-enhanced Feature for Identifying Potential Cash Shortfalls

A Canadian multinational investment bank and financial services company, Bank of Montreal has launched an AI-enhanced tool for its Personal Financial Management (PFM) platform to support clients to recognize possible cash deficiencies.

According to a statement, Bank of Montreal’s CashTrack Insight feature utilizes artificial intelligence (AI) and machine learning (ML) models to produce real-time financial insights that can forecast when there would be a cash shortage.

Canadian bank’s CastTrack framework searches up to seven days in advance through various checking and saving accounts to alert consumers about possible cash shortcomings. The predictive technology, therefore, offers effective recommendations for addressing future cash scarcity issues before they eventually exist.

Recommended AI News: Google Updates Google Photos to Allow Users Train its AI

“We took the time to understand where customers were having challenges and found that close to a third face cash flow challenges each year. As we continue to navigate COVID, we know too that some Canadians are facing additional financial headwinds brought about by this pandemic,” said Brett Pitts, Chief Digital Officer, BMO Financial Group. “We wanted to come up with a way to help that was unique in the market. With CashTrack, we’re providing a more accurate, holistic view of a customer’s account – allowing them to take control of their finances. This is another step for us as we look for real ways to help our customers improve their finances.”

Related Posts
1 of 41,183

Established in 1817 as Bank of Montreal, the BMO Financial Group is a North American-based highly diversified financial services provider with over 46,000 employees. The Bank provides over 12 million clients with retail finance, asset management, and investment banking products and services. The BMO works across three primary operating units, including Personal and Commercial Banking, Investment Management, and BMO Capital Markets.

As reported in August 2020, Bank of Montreal developed an API gateway to allow small business customers to quickly and safely exchange their data with Intuit’s QuickBooks accounting suite.

Recommended AI News: AvidXchange Announces Integration With Concur Invoice

Bank of Montreal’s management noted that the portal seeks to make exchanging financial details with QuickBooks Online, thus enabling SMBs to save time. Through this upgrade, small companies won’t need to navigate through their online banking and accounting applications.

Bank of Montreal’s self-serve transactions soared to around 95% of overall retail transactions, following the COVID-19 pandemic. Prior to the crisis, between 89-90% of all retail transactions were self-serving.

Recommended AI News: Fintech and AccountsFlow Partner for Industry-Leading Quickbooks Online Integration

3 Comments
  1. Ensest Erotik film Eş değiştirme Fake Taxi Gizli Çekim Götten arkadan s** Karışık pornolar Kızlık
    Bozma Lolita Mobil HD Okulda s** S** filmleri Tecavüz Video Tube8 Su gibi boşalma.

  2. Iron waste reclaiming center says

    Metal recycling and reclamation Ferrous metal reprocessing facility Iron salvage and recycling

    Ferrous waste repurposing, Iron salvage services, Scrap metal refurbishing and recycling

  3. Copper alloys Copper scrap business intelligence Metal reclamation and reutilization solutions
    Copper cable scrap prices per pound, Scrap metal shearing, Copper logistics

Leave A Reply

Your email address will not be published.