During 2025, this tool helped more than 3,000 companies save upwards of 250,000 hours, the banking giant announced Thursday (Dec. 11).
According to a news release provided to PYMNTS, the tool automates what is typically a highly manual effort, and is accessed from CashPro, a platform the bank’s clients use for treasury, trade and cross-border needs.
“Economic uncertainty is the new normal across global markets,” said Winnie Chen, head of Global Payments Solutions for Asia Pacific at Bank of America. “It’s critical we equip our clients with the best tools, insights, and resources so they can navigate this complexity with confidence and make timely, informed decisions.”
Sal Campo, enterprise cash management manager at Toyota Financial Services North America, said in the release that BofA CashPro Forecasting tool has an “intuitive yet dynamic design” that makes implementation straightforward “and allowed multiple teams to quickly derive value.”
When markets “gyrated” earlier this year, the release said, clients used CashPro Forecasting to look at how tariffs and interest rates were impacting their business. During the second quarter, the number of workspaces users created and shared within their company climbed 113% above the norm, peaking on April 15 and June 18.
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“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and is a heavily manual exercise that can commonly take up to a week to complete, by which time the data is usually out of date and the activities begin again,” the release added.
CashPro Forecasting, however, automatically integrates account data and uses machine learning to analyze global cash positions, present accurate forecasts, and provide actionable insights “within minutes,” Bank of America said.
In October, Bank of American reported record adoption of its CashPro Chat and transaction search capabilities. Usage had climbed 21% year over year, with almost 70% of the bank’s corporate clients employing the tool.
In addition, CashPro Search, introduced in February 2023, has topped 18 million searches, including nearly 2.4 million searches during the third quarter of this year, a quarterly record.
PYMNTS spoke in September with Tom Durkin, global head of product for CashPro, after the bank released its latest CashPro App enhancement, Capital Markets Insights.
By integrating artificial intelligence (AI) tools with its widely used digital banking platform, the bank is branching from treasury operations deeper into the capital markets decisions that uphold corporate finance strategy, that report said. Durkin told PYMNTS the focus has been on working backward from client pain points.
“There’s a lot that the finance organization holistically has to understand,” he said. “They look for … more insights and recommendations … but they’re also looking for that in a secure place. Security’s very top of mind for CFO and treasurers.”
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