BofA's AI Solution CashPro Forecasting™ Helps Clients Navigate Year of Volatility
The forecasting solution is accessed off CashPro, the platform that clients use for all their treasury, trade, and cross-border payments needs.
"Economic uncertainty is the new normal across global markets," said
When markets gyrated earlier this year, clients turned to CashPro Forecasting to gauge the impact of tariffs and interest rates on their business. One indicator of this engagement is the number of workspaces users create and share within their company. In Q2, that figure rose 113% above the norm, peaking on
"We have identified several productive use cases for the BofA CashPro Forecasting tool. Its intuitive yet dynamic design has made implementation straightforward and allowed multiple teams to quickly derive value. Over time, I'm confident we will discover even more ways to leverage this tool," said
How it works
Typically, cash forecasting is completed on spreadsheets and is a heavily manual exercise that can commonly take up to a week to complete, by which time the data is usually out of date and the activities begin again. CashPro Forecasting is a proprietary data intelligence tool that automatically integrates account data and applies machine learning to analyze global cash positions, generate accurate forecasts, and deliver actionable insights—all within minutes.
Advantages of CashPro Forecasting
- Forecasting speed: Results within minutes, not days.
- Forecasting horizon: From one day up to one year ahead.
- Ease of access: One click implementation within the CashPro platform.
- Comes with CashPro: Included as part of Information Reporting services.
- Comprehensive account views: Include global bank account data from other institutions for a holistic picture.
Always learning
In April, the bank launched an enhanced version of the AI model powering CashPro Forecasting. This upgrade enables the solution to process and interpret data 5x faster, helping clients respond more nimbly to market events.
More recently, we introduced Ask Global Payments Solutions, a generative AI tool that supports employees in addressing inquiries.
"We never rest when it comes to advancing our technology," said
Bank of America
Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in
For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts.
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SOURCE Bank of America Corporation
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