BMO is applying AI to transform our end-to-end commercial credit journey. The first agent for this transformation was launched in 2026 and focuses on automating the generation of commercial credit assessments, which previously underwriters created manually.
Aura is a GenAI powered assistant that reviews information from multiple systems and synthesizes it into a coherent narrative to support lending decisions.
By bringing together information from approved internal systems, Aura generates draft commentary for key sections of commercial credit submissions, helping teams start with a structured draft rather than a blank page. Throughout the process, underwriters review, validate and refine the generated commentary, remaining accountable for analysis, due diligence and credit decisions.
“By fiscal 2028, this focus on our clients’ credit journey will reduce our credit underwriting time by roughly 50%, with 70% of all commercial processes being powered by AI."
Aura is one example of how BMO is applying AI within the credit workflow as part of its underwriting transformation. Aura has moved from targeted testing into use within selected Commercial Banking underwriting workflows, reflecting BMO’s broader focus on applying AI where it can support more efficient, consistent processes.
Scaling AI responsibly
Responsible implementation is central to scaling AI, particularly in areas such as underwriting where trust, judgment and risk management are essential.
BMO’s Responsible AI Principles guide how the bank builds, operates and uses AI. The framework is anchored in:
- Accountability
- Reliability
- Security
- Explainability
- Transparency
- Fairness
- Privacy
- Sustainability
Together, these principles help ensure AI-enabled capabilities are developed and applied within a clear governance framework.The result is a model that enhances client engagement while keeping experienced bankers at the centre of decision-making.
Human oversight remains a critical part of this model. Aura provides draft commentary, but underwriters are responsible for reviewing outputs and making final decisions.
“Today, 95% of our teams use AI daily, and that adoption is translating into real outcomes,” Haward-Laird said.
Aura reflects BMO’s broader approach to applying AI: using technology to augment teams, embed capabilities directly into workflows and create more capacity for higher-value work.
As BMO continues to advance its commercial credit transformation, AI is expected to play an increasingly important role in helping teams focus on analysis, judgment, client support, and opportunities that can create the greatest value.
