Macquarie Group (ASX:MQG) launched "Q," an artificial intelligence-powered support assistant exclusively for Macquarie Bank customers for their everyday banking services, the company said in a statement Monday.

Q is available in the Macquarie Mobile Banking app and Macquarie Online platforms, the company said. It uses advanced language processing to understand and respond to common customer questions and requests and can escalate customer queries to a Macquarie staff.

Two-factor authentication and encryption is used to protect customer data and conversations, the company said.

The company expects Q to provide customers with personalized spending insights by category or merchant as it continues to develop.

Macquarie Group's shares fell past 1% in recent trading on Monday.