Bank of Montreal (BMO) conducted a three-year project to improve and automate the retail banking business. Beginning in 1999, BMO established a global benchmark in retail banking technology. The effort is called the Customer First initiative, which included Technological change in Information system operations. It made use of Artificial Intelligence and Machine learning, particularly Reinforcement learning in order to develop the POS, Manager Workstation and Internet Financial Service applications.

Bank of Montreal (BMO) conducted a three-year project to improve and automate the retail banking business. Beginning in 1999, BMO established a global benchmark in retail banking technology. The effort is called the Customer First initiative, which included Technological change in Information system operations. It made use of Artificial Intelligence and Machine learning, particularly Reinforcement learning in order to develop the POS, Manager Workstation and Internet Financial Service applications.

 

The Bank of Montreal has undergone change by using advanced technologies. The organization used the advanced technology in the Information system and Manager workstation, meaning that there is an addition of Customer Relationship Management and processing of internet transactions. This helps them achieve reducing the operations time while increasing their profits.

The trend of the Information Technology has changed the whole concept of management and transactions. An essential change for Bank of Montreal is the use of various technologies in their information system processes, this includes robotic process automation, artificial intelligence, machine learning and reinforcement learning.

 

The paper analyses the underlying technology of the information system that allows the bank to deal with changing demands and involves new products, capabilities, and business processes. The system is based on a modular, high-performance decision support architecture equipped with a scalable, open interface communication process. Among key technologies are listed: neural networks, genetic programming, support vector machines, rule-based expert systems, and fuzzy logic.

 

 

 

Problems and solutions that our team found in recent articles:

1. Bank of Montreal ought to start using Reinforcement learning to apply the principle of human motivation in its Information system operations; Point-of-Sale system (POS), Manager WorkStation (MW) [1]. This method has a basing on principles that underlie the control of behavior, which has led to the development of software and hardware which would enable real-time training of applications.

The advancement of Bank of Montreal’s Information technology systems is a positive outcome in the face of recent technological change. All across North America, banks are updating there information systems to conform with the current technological methods of operation. The one exception though, is The Bank of Montreal.

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