Bank of America Unveils GenAI Assistant for Global Payment Solutions

Bank of America rolls out GenAI assistant for Global Payment Solutions business

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community. Serving more than 40,000 business clients worldwide, the newly launched Ask Global Payments Solutions (AskGPS) was built in-house and trained on over 3,200 internal documents and presentations - including product guides, term sheets, and FAQs. "AskGPS turns institutional knowledge into real-time intelligence," says Mark Monaco, head of GPS at Bank of America. "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." Previously, a sophisticated inquiry could take an employee an hour to complete and involve making phone calls to product specialists across different regions and time zones. Now, using AskGPS, employees can achieve the same result almost instantly. "AskGPS is a bold leap forward in how we harness GenAI across the enterprise," says Jarrett Bruhn, head of Data & AI for GPS at Bank of America. "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." AskGPS complements existing AI tools provided by Bank of America's GPS team, including CashPro Chat and Forecasting, and Intelligent Receivables.

Bank of America Employs AI to Answer Client Payments Questions | PYMNTS.com

The new Ask Global Payments Solutions (AskGPS) tool, announced Tuesday (Sept. 30), 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. "AskGPS turns institutional knowledge into real-time intelligence," Mark Monaco, head of GPS at Bank of America, said in a news release provided to PYMNTS. "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." Before this tool, the release added, 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. Clients, meanwhile, 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," said Jarrett Bruhn, head of data and AI for GPS at Bank of America. "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." The new tool is the latest in a long line of recent efforts by the banking sector to use AI to drive customer engagement. Research from the June 2025 Embedded Finance Tracker® Series report, "Beyond the Bot: Why Embedded Conversational AI Is Banking's Next Strategic Advantage," a PYMNTS Intelligence collaboration with Galileo, shows that 72% of customers say personalization can help determine where they bank. In the era of digital banking, this means the most important transaction might not be a payment or a loan but a simple question. "Can you help me increase my credit limit?" "What's this charge on my account?" "How much can I safely spend this month?" "For decades, questions like these were routed to call centers and logged -- if at all -- as afterthoughts," PYMNTS wrote.

Bank of America's New GenAI Assistant Transforms Global Payments Solutions

BofA is using generative AI to transform how its Global Payments Solutions ("GPS") team serves the company's more than 40,000 business clients worldwide. The newly launched Ask Global Payments Solutions ("AskGPS") was built in-house and trained on over 3,200 internal documents and presentations - including product guides, term sheets, and FAQs. Through AskGPS, employees can now pose simple to complex client questions and receive answers within seconds. The AI assistant directly benefits Bank of America clients through: Faster turnaround on product and onboarding inquiries; More tailored solutions, grounded in thousands of vetted internal resources; Enhanced strategic guidance, as salespeople and bankers leverage AI to surface best practices and precedents across sectors and geographies. The larger AI story; AskGPS complements existing AI solutions provided by Bank of America's GPS team. They include: CashPro®? Chat with Erica®? technology. The virtual assistant is used by 65% of business clients for real-time account and transaction support; CashPro Forecasting that uses predictive analytics to forecast cash positions; Intelligent Receivables that uses AI and advanced data capture technology to bring together payment information and associated remittance detail from various payment channels. Bank of America continues to deploy AI across four key domains: intelligent agents, search and summarization, content generation, and operations and coding. These tools are designed to automate routine tasks and empower employees to focus on creativity, conversation, and complex client needs.