1. Bank of America launched AskGPS to enhance advisory services. 2. AskGPS saves employee hours with instant answers to inquiries. 3. AI transformation supports over 40,000 business clients globally. 4. Improved efficiency leads to tailored client solutions and strategic guidance. 5. Existing AI tools complement AskGPS for operational excellence.
The implementation of AskGPS is expected to enhance operational efficiency and client service delivery. Similar technological advancements have led to positive stock performances, as seen in other financial firms integrating AI solutions.
The article highlights a significant strategic initiative by Bank of America that could lead to improved client satisfaction and retention, essential for long-term growth.
Investment in AI technologies tends to yield long-term operational advantages and market competitiveness, as demonstrated by firms successfully implementing similar solutions to enhance client offerings and streamline processes.
"AskGPS" Expected to Save Tens of Thousands of Employee Hours Annually While Enhancing Advisory Services
NEW YORK, LONDON, and SINGAPORE, Sept. 30, 2025 /PRNewswire/ -- Bank of America 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.
"AskGPS turns institutional knowledge into real-time intelligence," said 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, creating the potential to save tens of thousands of hours annually.
The AI assistant directly benefits Bank of America clients through:
"AskGPS is a bold leap forward in how we harness GenAI across the enterprise," said 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."
The larger AI story
AskGPS complements existing AI solutions provided by Bank of America's GPS team. They include:
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.
Bank of America
Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 69 million consumer and small business clients with approximately 3,700 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 59 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock is listed on the New York Stock Exchange (NYSE:BAC).
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Reporters may contact
Louise Hennessy, Bank of America
Phone: 1.646.858.6471
louise.hennessy@bofa.com
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SOURCE Bank of America Corporation