Bank of Montreal has added an AI-driven feature to its PFM platform that helps customers identify potential cash shortfalls.
The BMO CashTrack Insight feature uses AI and machine learning models to provide customers with real-time financial insights that predict an upcoming cash shortfall, such as an account balance dropping below zero.
The system looks up to seven days in advance across Canadian chequing and savings accounts to warn customers of potential shortfalls and offers suggestions on how to resolve potential issues before they happen.
[BMO:] "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."