CHARLOTTE, N.C.–Bank of America said it has turned to AI to help its Global Payments Solutions team serve clients.
According to BofA, its new Ask Global Payments Solutions (AskGPS) tool lets employees pose “simple to complex” client queries and get answers within seconds. The tool was created in-house and trained on more than 3,200 internal documents and presentations, such as product guides, term sheets and FAQs, the bank said.
“AskGPS turns institutional knowledge into real-time intelligence,” Mark Monaco, head of GPS at Bank of America, said in a statement. “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.”
BofA said that prior to introduction of the tool, sophisticated inquiry might take an employee an hour to carry out and involve phone calls to product specialists all over the world. With AskGPS, employees can get the same result almost instantly, thus letting the bank potentially save tens of thousands of hours each year, the bank said.
‘Faster Turnaround’
In addition, it said clients will get “faster turnaround on product and onboarding inquiries, more tailored solutions, and enhanced strategic guidance, as salespeople and bankers leverage AI to surface best practices and precedents across sectors and geographies,” the release said.
“AskGPS is a bold leap forward in how we harness GenAI across the enterprise,” Jarrett Bruhn, head of data and AI for GPS at Bank of America, said in a statement. “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.”
