Bank of America, (BofA), is elevating the experience of its business clients through enhancements to CashPro Chat, a virtual service advisor within the CashPro banking platform. CashPro is used by more than 40,000 corporate and commercial clients around the world to manage their treasury operations.
CashPro Chat now includes the same proprietary artificial intelligence (AI) and machine learning capabilities behind Erica – the company’s popular virtual financial assistant that’s been used by more than 38 million individuals to access account information, transfer funds, send money to friends and family, and more. Business clients can now experience the power of this advanced virtual assistant to quickly view transactions, find information about their accounts and navigate CashPro functionality. As needed, the virtual advisor will route more complex requests to specialized service teams to resolve.
“Finance teams today need access to information quickly, at any time of day, and from any location. Whatever we can do to eliminate friction will help them respond better and faster to real-time events and demands,” said Tom Durkin, Global Product Head of CashPro in Global Transaction Services (GTS) at Bank of America, BofA. “This latest enhancement to CashPro Chat is a great demonstration of how we’re doing just that.”
CashPro Chat supplements the CashPro Search feature, launched in May, that enables clients to easily find a specific transaction from potentially hundreds of bank accounts. This time-saving function acts like an online search engine that can locate information across multiple data sets using keywords.
“CashPro Chat has become one of the most heavily used service functions on our banking platform thanks to the efficiency it creates for our clients,” said Sue Caras, Head of Global Commercial Banking for GTS at Bank of America. “Through the integration of Erica, our virtual service advisor will become smarter and more sophisticated the more our clients use it.”
“Bank of America’s ability to innovate owes much to the company’s internal collaboration where best practices and cutting-edge technology can be leveraged across business lines,” said Patricia Hines, Head of Banking and Payments at Celent, a leading research and advisory firm focused on technology for financial institutions globally. “The Erica technology distinguishes the CashPro platform from its peers, giving the bank’s clients a best-in-class experience offered by a financial assistant.”
