BofA Merrill Lynch debuts CashPro Assistant with AI forecasting
Bank of America Merrill Lynch has injected artificial intelligence and predictive analytic capabilities into its core CashPro tool for corporate users, using a set of application programming interfaces (APIs) to produce CashPro Assistant.
CashPro Assistant leverages BofA Merrill’s APIs to enable corporate users to integrate directly with Microsoft Excel, populating account data on demand into configurable spreadsheets for reporting and transaction research with automated alerts, the bank said in a Tuesday press release.
The tool can provide deeper insight into transactions that can inform companies’ decisions, said Hubert J.P. Jolly, BofA Merrill’s head of financing and channels for global transaction services, in the release.
“Treasurers are challenged with maintaining oversight and managing daily operations using fragmented tools…we view this as an opportunity to help them gain efficiencies, enhance governance and control, and drive strategic growth,” Jolly added in the release.