Canada-based Bank of Montreal (BMO) has launched two new chatbots for Facebook Messenger and Twitter.

Both chatbots are driven by artificial intelligence (AI) technology and are equipped with natural language processing capabilities.

The personal banking chatbot for Facebook Messenger, known as BMO Bolt, provides guidance and information to customers in real time.

BMO Bolt has been developed in collaboration with conversational banking technology firm Finn AI.

Available round the clock, the chatboot is capable of answering 250 common questions, such as those related to banking products, foreign exchanges rates, branch locations and ATMs among others.

For Twitter, the bank introduced BMO Virtual Assistant – a menu-based question and answer chatbot.

The chatbot, which has been developed in association with Massively, helps users find the information they need quickly and easily.

BMO Financial Group chief digital officer Brett Pitts said: “The launch of these chatbots, 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 personalised experiences through both self-service and assisted-service channels.”

Pitts added that these new features will offer users more choice and control with respect to their connection with the bank while offering another convenient option to get the answers they need quickly.