BofA unveils “AskGPS” GenAI solution to revolutionise global payments operations - Trade Treasury Payments

Bank of America has implemented a new generative AI system that transforms how its Global Payments Solutions (GPS) division serves its global base of 40,000 corporate clients. The technology is a fundamental shift in client service capabilities for one of the world’s largest financial institutions.

Developed internally and fed with more than 3,200 proprietary documents, including technical product manuals, detailed term sheets, and frequently asked questions, the new AskGPS platform enables staff to receive instant answers to even the most intricate client inquiries.

According to Mark Monaco, head of GPS at Bank of America, “AskGPS turns institutional knowledge into real-time intelligence. It’s 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 in today’s environment.” 

From hours to seconds: the transformation of knowledge access

The impact on operational efficiency is notable. Complex inquiries that previously required up to an hour of staff time, often involving multiple calls to specialists across global time zones, can now be resolved nearly instantaneously. This breakthrough in knowledge management is projected to recover tens of thousands of employee hours annually that can be redirected toward higher-value advisory work.

This AI implementation marks a fundamental shift in knowledge utilisation across the organisation. By converting the bank’s extensive documentation into an interactive digital brain, Bank of America has effectively created a borderless, always-available expert system that transcends traditional operational constraints.

Client experience enhancement through technical innovation

The business impact extends directly to client interactions in three key areas. First, corporate customers experience dramatically shortened response times for technical and procedural questions. 

Second, the system enables more precisely tailored solution development by instantly analysing thousands of internal precedents and best practices. Finally, relationship managers can now provide significantly enhanced strategic consultation by leveraging AI-surfaced insights from across industries and markets.

As per Jarrett Bruhn, head of Data & AI for GPS at Bank of America, “AskGPS is a bold leap forward in how we harness GenAI across the enterprise. By turning static content into dynamic intelligence, we’re not just improving access—we’re transforming how our teams learn, respond and lead with insight.”

Complementing existing AI solutions 

This latest innovation builds upon Bank of America’s existing portfolio of AI-driven solutions, including the CashPro® platform, which features Erica® technology. It provides virtual assistance that has achieved a remarkable 65% adoption rate among business clients seeking instant account and transaction support.

Financial planning capabilities are enhanced through CashPro Forecasting, which applies sophisticated predictive modelling to generate accurate cash position projections.

For streamlining payment processing, the Intelligent Receivables system combines AI with advanced data recognition to consolidate payment information from disparate channels into unified, actionable insights.

The bank continues advancing its AI strategy across four strategic domains i) conversational AI agents ii) advanced information retrieval and synthesis iii) automated content creation iv) process automation through intelligent coding. These technologies are strategically designed to handle routine operations while freeing human talent for creative problem-solving and relationship-focused client engagement.

The successful implementation of AskGPS would showcase how financial institutions can leverage next-generation AI to create improvements in both internal operations and external service delivery.