#United States #New York #Capital Markets #Bank of America #CashPro

Bank of America Unveils AI-Driven Capital Markets Insights on CashPro® App

Bank of America recently announced a significant addition to its CashPro® App aimed at enhancing the capabilities available to CFOs and treasury teams. This new feature, known as Capital Markets Insights, offers a comprehensive view of market data pertinent to investment-grade capital markets. Utilizing sophisticated artificial intelligence, this update is crafted to simplify critical financial decision-making processes in an increasingly complex economic landscape.

The introduction of Capital Markets Insights marks a vital step to consolidate capital market knowledge directly within the palm of users’ hands. As Tom Durkin, the global product head of CashPro within Global Payments Solutions at Bank of America emphasizes, the same executives who are responsible for approving payments also take charge of debt issuance decisions. This direct correlation underscores the app’s utility in streamlining the related financial responsibilities of companies.

With the integration of an AI-driven Trade Evaluation Driver (TED), capable of interpreting various market variables, CFOs can now access a TED score. This score acts as an objective metric to assess the market conditions surrounding investment-grade issuances, thus allowing users to gain insights on the feasibility of a bond issuance on any given day. The objective quantification of macroeconomic conditions provided by TED is invaluable for informed decision-making.

CashPro serves as a digital banking platform that caters to over 40,000 corporate and commercial clients worldwide, enabling them to manage treasury, trade, credit, and other critical financial operations seamlessly. The mobile version, in particular, is favored for its convenience and enhanced security. With the new improvements, users can now view market statistics, same-day issuance information, and bond pricing data across investment-grade sectors—all customized for their needs in real-time.

Previously, clients often relied on disconnected channels—such as various emails, phone calls, and third-party services—to gather data relevant to their capital markets strategies. Now, with Capital Markets Insights, this information is aggregated and delivered through personalized views in the CashPro App, optimizing efficiency and transparency in capital markets operations.

Jon Klein, co-head of Global Investment Grade Capital Markets and head of EMEA Capital Markets at Bank of America, noted how CashPro's increasing functionality combined with its user-friendly interface makes it a keystone tool for their clients. By digitizing Capital Markets Insights within the app, users can respond to market changes more swiftly and effectively, thereby maintaining a competitive edge in their strategic financial decisions.

This innovation affirms Bank of America's position as a leading financial institution, not only in banking and investment services but also in integrating technological advancements to meet client needs better. With approximately 69 million consumer and small business clients served in the United States alone, and operations spanning over 35 countries, the bank stands at the forefront of wealth management and corporate banking.

In conclusion, the launch of AI-driven Capital Markets Insights within the CashPro® App exemplifies Bank of America’s commitment to leveraging technology to empower clients and simplify their capital market interactions. As the financial landscape evolves, such innovations will be crucial in supporting informed decision-making and fostering growth in the investment sector.