Financial institution of America’s CashPro platform is present process a metamorphosis, fueled by synthetic intelligence (AI), real-time information and digital capabilities.
This has contributed to CashPro netting greater than 40,000 company and business shoppers around the globe. The worldwide treasury administration platform now helps every little thing from mobile-based biometric logins to self-service forecasting utilizing machine studying. “Shoppers … are searching for extra productiveness and effectivity out of instruments that assist them handle money, funds and receivables,” stated Tom Durkin, world product head of CashPro in World Funds Options at Financial institution of America. In keeping with Durkin, the money circulate managed by BofA’s company shoppers sits on prime of a treasure trove of information for all of the totally different methods that run by the financial institution. Globally, he informed PYMNTS, exchanging info from commerce, provide chains and overseas trade offers distinctive visibility into an organization’s treasury operations.
Durkin stated CashPro now delivers “predictive, extra customized suggestions to shoppers to assist drive the precise treasury selections [via a secure platform],” citing CashPro Forecasting, CashPro Chat and QR Signal-In as examples.
The Inside Stack
Financial institution of America has embedded AI not solely in its client-facing merchandise however all through its inside know-how stack.
“We’re leveraging AI … to assist [develop] software program,” stated Andrew McKibben, head of Worldwide Expertise and CIO for World Company and Funding Banking at BofA. “It improves the productiveness of a software program engineer — helps them write code, helps them write check instances [and] enhance time to market. It improves high quality as effectively.”
McKibben stated that innovation is decentralized by design. “We [believe] that each one workers can innovate or be forward-thinking, no matter their function,” he stated. “We showcase it and we rejoice it.”
That strategy has yielded greater than 7,800 patents from practically 8,000 workers, with 1,400 of these patents in AI and machine studying.
The financial institution’s “Nice Wall of Patents” within the Chicago workplace, with members of the CashPro staff. From left: Adam Jalali, Trish Gillis (patent holder), Scott Mumma (patent holder) and Alyssa Salloum. Credit score: Financial institution of America
In generative AI, the financial institution’s efforts embrace content material classification, summarization, and era, which allows Financial institution of America to help shoppers extra effectively and successfully.
“You may immediate and ask questions of all of our analysis studies in a library and generate content material that is perhaps helpful [for someone internally, or in discussions with] a consumer,” McKibben stated.
Forecasting Effectivity
On the treasury aspect, Durkin pointed to CashPro Forecasting as one of many clearest examples of AI-driven effectivity. It learns from a consumer’s historic money flows, routinely choosing probably the most correct stability for every account and utilizing it to forecast future money positions. On the finish of every day, the fashions are retrained primarily based on the brand new money flows from that day, permitting them to repeatedly be taught and modify for modifications in seasonality and different operational impacts particular to every firm.
“There’s nothing extra vital to the treasurer than preserving and understanding the place their money is,” Durkin stated, including that folks historically have used a spreadsheet to forecast, and that might take as much as per week to finish. By the point it’s finished, the info is old-fashioned. Nonetheless, with CashPro Forecasting, the modeling is completed inside minutes.
CashPro Forecasting additionally helps scenario-based modeling. “If I create sure fashions and occasions, how will the mannequin situation work? How will that work inside this unit — if I’ve a subsidiary working within the EU versus a subsidiary that’s working out of Brazil?” Durkin stated. Shoppers can develop forecasts as much as a 12 months into the long run.
Along with forecasting, shoppers are more and more utilizing self-service options like account verification letters to do issues like substantiate account info for a beneficiary. Financial institution of America stated adoption has soared by 21% within the first quarter of 2025 from the fourth quarter of 2024.
Durkin stated their shoppers not must name the service heart — they’ll generate the letters themselves. Shoppers are actually asking the financial institution to supply the function outdoors of the U.S. as effectively.
CashPro Chat is one other synthetic intelligence instrument constructed on the identical platform as Erica, the financial institution’s consumer-facing digital assistant. CashPro Chat helps treasurers and different monetary professionals to rapidly view transactions, discover details about their accounts and navigate CashPro performance. In keeping with Durkin, 40% of queries are self-serviced by this instrument.
The evolution of the CashPro App is one other core a part of the financial institution’s technique. “The app itself actually began as … a transactional instrument,” Durkin stated. “However we see extra alternative for [it] to be a personalised instrument [once] you’ve informed it what you want, what you don’t like, and what you wish to faucet into.” A key demonstration of the app’s recognition is how it’s used to approve funds. Final 12 months, the amount of cost approvals exceeded $1T. The financial institution believes the determine underscores the belief that treasurers have within the app to conduct strategic enterprise selections.
Saving Grace
Daylon Bailey, treasury operations supervisor at Highgate Motels, stated the CashPro App has been “our saving grace. Major directors like myself, lots of instances, we’re typically going into CashPro App to make selections, so it’s good to have entrance and heart that info that we’d like proper then and there — whether or not I have to approve a consumer change, I have to approve a wire or take a look at optimistic pay. It’s very intuitive. It’s like having the web-based platform within the palm of your hand.”
McKibben highlighted safety as a key development. The financial institution is including further safety layers for cover, together with stronger authentication by QR sign-in and push notifications earlier than signing in. Push code notifications have been added in Might whereas adoption of QR sign-in is rising quickly, growing 60% from 2023 to 2024.
CashPro Insights is one other functionality that delivers worth because it helps company shoppers make smarter treasury selections by analyzing their transactional information. It offers tailor-made suggestions, resembling encouraging shifts from paper checks to digital funds and highlighting alternatives to boost account safety. CashPro Insights is designed to “drive effectivity” and assist shoppers higher perceive “what they need to be doing, not simply what they’re doing right this moment,” Durkin stated.
Angela Brown, assistant treasurer of Continental, stated, “the quantity of information we are able to now faucet into utilizing CashPro Insights is jaw-dropping. We had been creating these KPIs internally and it took us many steps to get to those identical precious information factors. Now they’re proper at our fingertips.”
Shoppers are responding to the enhancements. “Some prospects will say, ‘CashPro is aware of extra about my enterprise than a few of my staff does,’” Durkin stated. “As a result of it sees all that.”
With regards to agentic AI, McKibben stated the financial institution is being intentionally strategic. “We’re occupied with constructing that, however we additionally wish to be certain that we’ve the precise controls round its use,” he stated. “We’re deep into evaluating it.”
CashPro additionally affords flexibility, which is additionally a key differentiator.
“CashPro can meet the shoppers wherever they’re, whether or not by the cell app, on-line platform, or an API rail,” Durkin stated. “Some shoppers could pull real-time information by the CashPro API, use the web expertise for CashPro Chat, and depend on the cell app to assessment and approve funds.”
Trying forward, Durkin stated extra automation and intelligence are coming. “We’re going to proceed to drive that out in areas the place shoppers achieve higher entry to info and extra environment friendly supply.”
McKibben stated the broader development is towards real-time treasury capabilities. “[Traditionally the data available to treasurers was based on what is already available but increasingly, data is becoming more ‘real-time’]. You need prospects to get actually precious insights into the info and their money circulate to make extra dynamic … selections… That’s a continued focus space for us.”
Durkin closed with a mirrored image on CashPro’s future: “I believe it’s already fairly sensible, however as with every human, you’re by no means finished studying.”
