The new features allow employees to focus on creativity, conversation and achievement of customer complex needs.
Bank of America (BOFA) revealed this week important ways that artificial intelligence improves its services for customers and employees thanks to the strategic deployment of the generative AI (GENAI), demonstrating a leap forward in the way the institution exploits AI. Two recent initiatives, ASKGPS and information on the capital markets of cashpro, highlight its commitment.
Askgps, an internal Genai assistant, transforms the way in which the Global Payments Solutions (GPS) team of Bofa serves its more than 40,000 commercial customers worldwide. Trained on more than 3,200 internal documents, ASKGPS allows employees to quickly receive answers to customer questions from customers, a process that could take an hour before and involve several specialists. This real -time intelligence should save tens of thousands of hours of employees per year, allowing a faster turnaround of product requests, more personalized solutions and improved strategic advice for customers. Mark Monaco, head of GPS, notes that ASKGPs are “more than a research tool – it is a strategic engine, helping our teams respond more quickly and providing the type of clarity and advice that customers are waiting for.”
Completing this, the bank has also unveiled information on the capital markets led by AI. The new feature provides C-Suite and Treasury teams with a centralized and mobile view of market and emission data for investment quality capital markets. It includes the commercial assessment driver provided by AI, which offers an objective score to quantify the macro backdrop for debt emission decisions.
Previously, the collection of this information required disparate emails, telephone calls and third-party canals. From now on, the data is automatically aggregated and presented on demand, allowing customers to act faster and effectively according to the relevant information on the market. Tom Durkin, World Product Manager of CashPro, underlines that this deepens the capacity of the application to “improve and simplify the decision -making of our quality customers in placement”.
These innovations are part of Bofa’s wider strategy to deploy AI through smart agents, research and summary, content generation and operations and coding. By automating routine tasks, the bank allows employees to focus on creativity, conversation and realization of customer complex needs, ultimately offering better service and strategic information to its diversified customers.