Financial institution of America is utilizing AI to assist its World Funds Options workforce serve purchasers.
The brand new Ask World Funds Options (AskGPS) software, introduced Tuesday (Sept. 30), lets workers pose “easy to advanced” consumer queries and get solutions inside seconds. The software was created in-house and educated on greater than 3,200 inside paperwork and displays, similar to product guides, time period sheets and FAQs.
“AskGPS turns institutional data into real-time intelligence,” Mark Monaco, head of GPS at Financial institution of America, stated in a information launch supplied to PYMNTS. “It’s greater than a search software—it’s a strategic engine, serving to our groups reply quicker and ship the type of readability and recommendation purchasers anticipate in right this moment’s setting.”
Earlier than this software, the discharge added, refined inquiry would possibly take an worker an hour to hold out and contain cellphone calls to product specialists everywhere in the world. With AskGPS, workers can get the identical consequence virtually immediately, thus letting the financial institution doubtlessly save tens of hundreds of hours annually.
Purchasers, in the meantime, will get quicker turnaround on product and onboarding inquiries, extra tailor-made options, and enhanced strategic steerage, as salespeople and bankers leverage AI to floor greatest practices and precedents throughout sectors and geographies,” the discharge stated.
“AskGPS is a daring leap ahead in how we harness GenAI throughout the enterprise,” stated Jarrett Bruhn, head of information and AI for GPS at Financial institution of America. “By turning static content material into dynamic intelligence, we’re not simply bettering entry—we’re reworking how our groups study, reply and lead with perception.”
Commercial: Scroll to Proceed
The brand new software is the most recent in an extended line of latest efforts by the banking sector to make use of AI to drive buyer engagement.
Analysis from the June 2025 Embedded Finance Tracker® Sequence report, “Past the Bot: Why Embedded Conversational AI Is Banking’s Subsequent Strategic Benefit,” a PYMNTS Intelligence collaboration with Galileo, reveals that 72% of consumers say personalization will help decide the place they financial institution.
Within the period of digital banking, this implies a very powerful transaction won’t be a cost or a mortgage however a easy query. “Are you able to assist me enhance my credit score restrict?” “What’s this cost on my account?” “How a lot can I safely spend this month?”
“For many years, questions like these had been routed to name facilities and logged — if in any respect — as afterthoughts,” PYMNTS wrote.
“However a rising cohort of banks and monetary establishments are rethinking the worth of buyer dialogue. With conversational AI now able to far more than deflecting calls, monetary companies are starting to deal with dialog itself as a high-value asset: a gateway to information, engagement, and finally, income.”
