AskGPS: An Internal AI Innovation
How the Tool Functions
Bank of America has integrated artificial intelligence into its Global Payments Solutions (GPS) through a proprietary tool known as Ask Global Payments Solutions (AskGPS). This AI-driven assistant operates by analyzing over 3,200 internal documents, enabling it to provide accurate, data-backed answers to employees’ payments-related questions. Utilizing generative AI technologies, AskGPS functions as a conversational interface that understands nuanced inquiries, delivers precise guidance, and continuously improves through ongoing training data.
Driving Internal Efficiency
By automating responses to routine and complex queries, AskGPS has significantly reduced the time GPS employees spend searching for information. This automation saves tens of thousands of hours annually, accelerating internal workflows and freeing staff to focus on higher-value tasks. The improved access to consolidated knowledge enables faster decision-making and reduces bottlenecks that have traditionally slowed payments processing teams.
Elevating Client Engagement and Solutions
Faster Turnaround and Tailored Advice
Clients benefit from the AskGPS implementation through more rapid issue resolution and customized payment solutions. Bank of America reports that 72% of Payments clients experience faster service, supported by AI-driven insights that tailor recommendations to individual needs. The tool enhances responsiveness, allowing relationship managers to deliver informed answers without delay, which elevates the overall client experience.
The Strategic Value of Conversational AI
The conversational AI capabilities embedded in AskGPS represent a strategic advancement in client-facing banking technology. By moving beyond traditional scripted interactions, the tool accommodates dynamic conversations that align with evolving client requirements. This positions Bank of America as a frontrunner in leveraging AI for smarter, client-centric financial service delivery.
Broader Implications for AI in Banking
Bank of America’s deployment of AskGPS exemplifies a growing trend among financial institutions to adopt AI not only for operational efficiency but also for enhancing customer engagement. The measurable efficiency gains and elevated client satisfaction illustrate AI’s potential to redefine internal workflows and external services in payments and beyond. As AI technologies mature, banks embracing such tools will likely secure competitive advantages by optimizing resources and delivering superior, tailored solutions.
The success of AskGPS suggests an industry-wide shift toward conversational AI platforms that integrate deep organizational knowledge with real-time interaction capabilities. For financial professionals, this reflects a future where AI supports decision-making processes, augments customer service, and streamlines complex payment operations, ultimately reshaping the banking landscape.
