New features let employees to focus on creativity, conversation, and addressing complex client needs.
Bank of America (BofA) revealed this week significant ways that artificial intelligence is enhancing its services for clients and employees alike through the strategic deployment of generative AI (GenAI), demonstrating a leap forward in how the institution harnesses AI. Two recent initiatives, the CashPro App’s AskGPS and Capital Markets Insights, highlight its commitment.
AskGPS, an in-house GenAI assistant, is transforming how BofA’s Global Payments Solutions (GPS) team serves its more than 40,000 business clients worldwide. Trained on more than 3,200 internal documents, AskGPS lets employees quickly receive answers to complex client questions, a process that previously could take an hour and involve multiple specialists. This real-time intelligence is expected to save tens of thousands of employee hours annually, enabling faster turnaround on product inquiries, more tailored solutions, and enhanced strategic guidance for clients. Mark Monaco, head of GPS, notes that AskGPS is “more than a search tool—it’s a strategic engine, helping our teams respond faster and deliver the kind of clarity and advice clients expect.”
Complementing this, the bank has also unveiled AI-driven Capital Markets Insights. The new feature provides C-suite and treasury teams with a centralized, mobile view of market and issuance data for Investment Grade Capital Markets. It includes the proprietary AI-driven Trade Evaluation Driver, which offers an objective score to quantify the macro backdrop for debt issuance decisions.
Previously, gathering this information required disparate emails, phone calls, and third-party channels. Now, data is automatically aggregated and presented on demand, letting clients act more quickly and efficiently based on relevant market information. Tom Durkin, global product head of CashPro, emphasizes that this deepens the app’s ability to “enhance and simplify our investment-grade clients’ decision making.”
These innovations are part of BofA’s broader strategy to deploy AI across intelligent agents, search and summarization, content generation, and operations and coding. By automating routine tasks, the bank empowers employees to focus on creativity, conversation, and addressing complex client needs, ultimately delivering better service and strategic insights to its diverse client base.
