Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Fintech»BofA Grows AI Patent Portfolio 94%, Leading Financial Innovation
    Fintech

    BofA Grows AI Patent Portfolio 94%, Leading Financial Innovation

    October 24, 20242 Mins Read


    Corporate and Wealth Management Applications

    In the corporate banking sector, the bank’s CashPro platform serves 40,000 corporate and institutional clients. The treasury management system incorporates AI for transaction monitoring and account management. CashPro Chat uses the same AI and machine learning capabilities as Erica to help clients view transactions and find account information.

    The questions CashPro Chat can assist with have doubled since its launch last year, including an AI-enabled feature that routes clients to specialists when needed.

    What’s more, the bank’s Global Markets division has implemented machine learning chatbots across 20 trading areas. These systems access proprietary databases to provide real-time market information, trading volumes and exposure data.

    The chatbot connects the bank’s systems to deliver responses to trading-related questions such as market depth, trending indicators and current exposures.

    For corporate clients, the Intelligent Receivables system employs AI and optical character recognition to reconcile payments across multiple channels, automating the matching of payments to invoices. The system, delivered with a third party, learns from payment patterns to improve accuracy over time and reduces costs associated with manual processing.

    Client Insights, launched in 2020 for Merrill Wealth Management and Bank of America Private Bank advisors, uses AI-enabled data analytics to identify changes in client circumstances. The system has delivered 30 million insights to advisors since launch, highlighting opportunities in tax harvesting, retirement planning and student banking needs.

    “We innovate to meet and anticipate our clients’ needs. As our pace of innovation accelerates, we’re continually listening to clients and building solutions to improve and simplify their experiences,” says Aditya Bhasin, Chief Technology & Information Officer at Bank of America.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Dream11 parent Dream Sports testing Dream Money App to enter fintech sector

    Fintech

    Digital Economy In India: Odisha CM Launches ‘BharatNetra’ Fintech Hub In Bhubaneswar | Business News

    Fintech

    HTX Proudly Announces Justin Sun Named Innovator of the Year at Asia FinTech Awards 2025

    Fintech

    Secret Fintech Payments Cloud $725 Million Facebook Class Action Settlement

    Fintech

    CM launches initiative to boost fintech, insurtech education | Bhubaneswar News

    Fintech

    Fintech, compliance and sustainable growth

    Fintech
    Leave A Reply Cancel Reply

    Top Picks
    Cryptocurrency

    Govt working on regulating digital currencies: PM Shehbaz – Business

    Fintech

    Innocap accélère son expansion mondiale

    Fintech

    Tech Traps: ‘Always-On’ Culture Keeps 70% of UK Workers Locked in a Zombie Workforce

    Editors Picks

    Apex Fintech évalue l’acquisition potentielle de Bakkt, selon Axios -Le 05 mars 2025 à 17:52

    March 5, 2025

    Sentence embedding technology in the age of artificial intelligence

    August 29, 2024

    Navigating the US Property Market: Insights for UK Buyers Interested in Texas

    August 18, 2024

    Swedish Logistics Property achète deux propriétés en Suède -Le 24 mars 2025 à 11:40

    March 24, 2025
    What's Hot

    Journey Energy Provides Update on Term Debt Rescheduling and Operations

    October 10, 2024

    Adam Silver, l’homme chargé de faire briller la NBA dans le monde

    January 24, 2025

    Gold Price Rises Today: Check Precious Metal Rates In Delhi, Mumbai, Other Cities On June 12

    June 11, 2025
    Our Picks

    La fintech brésilienne Meliuz propose d’étendre sa stratégie de réserves de bitcoins

    April 14, 2025

    Pour l’inauguration du parc éolien, montez à bord d’une nacelle à 60 m de hauteur près de Dieppe

    June 9, 2025

    Ezipay Coin Presale Goes Live, Starting the Next Phase in Making Digital Payments More Accessible

    March 6, 2025
    Weekly Top

    Which Cryptocurrency Is More Likely to Be a Millionaire Maker? Dogecoin vs. Solana

    August 24, 2025

    Gujarat emerges as India’s copper hub, amid soaring demand from sunrise sectors – Industry News

    August 24, 2025

    Four quick and easy DIY tricks to boost your property value by nearly £30k

    August 24, 2025
    Editor's Pick

    Russell Investments Group Ltd. Has $6.14 Million Stake in iShares U.S. Technology ETF (NYSEARCA:IYW)

    July 22, 2024

    ArcelorMittal: les salariés à Paris, pour du métal, avec ou « sans Mittal »

    May 13, 2025

    Citi investit stratégiquement dans Starburst pour accélérer l’usage de l’IA dans les secteurs régulés

    June 10, 2025
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.