Bank of America launches AI tool designed to streamline how employees respond to client payment questions, marking a major step in digital banking innovation.
The tool, called Ask Global Payments Solutions (AskGPS), was announced on Tuesday (Sept. 30). Developed in-house, the Bank of America AI tool uses generative AI to process “simple to complex” queries in seconds. It has been trained on more than 3,200 internal documents, including product guides, FAQs, and term sheets, to deliver accurate, real-time answers.
“AskGPS turns institutional knowledge into real-time intelligence,” said Mark Monaco, head of Global Payments Solutions at Bank of America. “It’s more than a search tool—it’s a strategic engine that helps our teams respond faster and deliver clarity clients expect in today’s environment.”
Transforming Client Interactions
Previously, a complex inquiry could take up to an hour and involve multiple calls with product specialists across regions. Now, employees can get the same results instantly, potentially saving tens of thousands of work hours each year.
For clients, the Bank of America AI tool means faster onboarding, quicker responses to payment-related inquiries, and more tailored solutions. By using AI to surface best practices across industries, the bank aims to provide more strategic guidance and personalized service.
“AskGPS is a bold leap forward in how we harness GenAI across the enterprise,” added Jarrett Bruhn, head of Data and AI for Global Payments Solutions at Bank of America. “By turning static content into dynamic intelligence, we’re transforming how teams learn, respond, and lead with insight.”
AI in Banking on the Rise
The rollout of AskGPS reflects a broader trend in the financial sector, where AI is becoming central to client engagement. According to PYMNTS’ June 2025 Embedded Finance Tracker® report, 72% of customers say personalization plays a key role in choosing where they bank.
This highlights the growing importance of conversational AI in digital banking. Everyday questions such as “Can you help me increase my credit limit?” or “What’s this charge on my account?” are now recognized as critical touchpoints for building stronger client relationships.
By deploying tools like AskGPS, Bank of America positions itself at the forefront of this shift, showing how conversational AI can be more than customer support—it’s a gateway to data-driven engagement and long-term revenue growth.