Bank of America has introduced CashPro Insights, an analytics tool integrated into its CashPro digital banking platform, aimed at providing corporate and commercial clients with valuable insights to enhance treasury decision-making. CashPro Insights taps into the vast amount of transactional data processed by CashPro, which facilitated 340 million client payments in 2023, marking an 8% increase from the previous year.
One of the initial features of CashPro Insights is Security Insight, presented as a “security meter.” This tool assesses and offers recommendations to enhance users’ security controls. Users can efficiently act on these recommendations within the platform through the “CashPro Click to Action” commands.
The release of CashPro Insights follows Bank of America’s incorporation of artificial intelligence (AI) and machine learning capabilities into the platform in September 2023. Tom Durkin, Global Product Head of CashPro in Global Transaction Services, highlighted the importance of quick and accessible information for finance teams, enabling them to respond effectively to real-time events and demands.
As businesses faced financial pressures in the challenging environment of 2023, CashPro continues to evolve to meet the changing needs of its users. The latest addition aims to empower finance professionals with actionable insights, facilitating quicker and more informed treasury decisions.
The unveiling of CashPro Insights reinforces Bank of America’s commitment to technological advancements and innovative solutions in the realm of digital banking and treasury management.
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