AI and predictive analytics drive new bank service

This means customers can populate account data on demand from CashPro Online into configurable spreadsheets.

The introduction of analytics and forecasting is one of several steps Bank of America Merrill Lynch is taking to expand the delivery of products using API technology.

Additional tools in CashPro Assistant include transaction research, automated alerts, educational content, live chat and help by phone.

Hubert J.P. Jolly, head of financing and channels for global transaction services at Bank of America Merrill Lynch, said: “Companies are looking to their banks to not just execute financial transactions, but to provide information they can use in a hands-on fashion to inform their decision-making.

“We’re launching CashPro Assistant in recognition that the services we’ve created can be valuable to all our clients without the need to pick and choose among them. Our aim is to make it as easy as possible for clients to do business.”