TLDR: Bank of America has launched AskGPS, an in-house developed generative AI assistant designed to streamline global payments solutions for its 40,000+ business clients. Trained on over 3,200 internal documents, AskGPS provides instant answers to complex queries, aiming to save tens of thousands of employee hours annually and enhance client advisory services.
Bank of America (BofA) has introduced a significant advancement in its client-facing operations with the launch of AskGPS (Ask Global Payments Solutions), a new generative AI assistant. This innovative tool is set to transform how the bank’s Global Payments Solutions (GPS) team serves its extensive base of more than 40,000 business clients worldwide.
Developed entirely in-house, AskGPS leverages a vast knowledge base, having been trained on over 3,200 internal documents and presentations. This comprehensive dataset includes critical resources such as product guides, term sheets, and frequently asked questions (FAQs). The primary objective of AskGPS is to provide immediate and accurate answers to client inquiries, ranging from simple to highly complex, a process that previously could be time-consuming and resource-intensive.
Mark Monaco, head of GPS at Bank of America, emphasized the strategic importance of this new technology, stating, “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.” This sentiment was echoed by Jarrett Bruhn, head of Data & AI for GPS at Bank of America, who added, “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.”
Historically, a sophisticated client inquiry might have required an employee up to an hour to resolve, often involving multiple phone calls to product specialists across different regions and time zones. With AskGPS, employees can now achieve the same results almost instantly, leading to a projected saving of tens of thousands of employee hours each year.
The benefits extend directly to Bank of America’s clients through several key improvements: faster turnaround times on product and onboarding inquiries, more tailored solutions derived from thousands of vetted internal resources, and enhanced strategic guidance as salespersons and bankers utilize AI to identify best practices and precedents across various sectors and geographies.
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AskGPS complements BofA’s existing suite of AI solutions within its GPS team, which includes the widely adopted CashPro Chat with Erica technology, utilized by 65% of business clients for real-time account and transaction support. Other existing tools are CashPro Forecasting, which employs predictive analytics for cash position projections, and Intelligent Receivables. This launch aligns with Bank of America’s broader strategy of deploying AI across four core domains: intelligent agents, search and summarization, content generation, and operations and coding, all aimed at automating routine tasks and empowering employees.
