Bank of America Employs AI to Answer Client Payments Questions
Bank of America is using AI to help its Global Payments Solutions team serve clients.
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.
“But a growing cohort of banks and financial institutions are rethinking the value of customer dialogue. With conversational AI now capable of much more than deflecting calls, financial services are beginning to treat conversation itself as a high-value asset: a gateway to data, engagement, and ultimately, revenue.”
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