BofA Unveils AI-Driven Capital Markets Insights on CashPro® App
Rhea-AI Summary
Bank of America (NYSE:BAC) has announced the launch of Capital Markets Insights on its CashPro® App, introducing AI-driven market intelligence for investment-grade capital markets clients. The new feature includes the proprietary Trade Evaluation Driver (TED), an AI algorithm that quantifies market conditions for debt issuance decisions.
The enhancement to CashPro, which serves over 40,000 corporate and commercial clients globally, consolidates previously scattered market data into a centralized mobile view. Users can now access market statistics, same-day issuance information, and investment grade secondary bond pricing data through the platform's intuitive interface.
Positive
- Integration of AI-driven analytics (TED) for enhanced decision-making in debt issuance
- Consolidation of disparate market data into a single mobile platform for 40,000+ global clients
- Streamlined efficiency for investment-grade capital markets operations
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, BAC gained 0.40%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
C-Suite and Treasury Teams to Have Consolidated Capital Markets Knowledge In the Palm of Their Hand
"CFOs and treasurers using the CashPro App to approve payments are the same people making debt issuance decisions," said Tom Durkin, global product head of CashPro in Global Payments Solutions at Bank of America. "Capital Markets Insights deepens the app's ability to enhance and simplify our investment-grade clients' decision making."
Capital Markets Insights will use an AI-driven algorithm leveraging market variables that produces a TED score – an objective way to quantify the macro backdrop that clients, the debt issuers, are faced with prior to deciding the viability of an investment-grade issuance on a given day.
CashPro is Bank of America's digital banking platform accessed by more than 40,000 corporate and commercial clients around the world to manage treasury, trade, credit, and other critical operations. Many users leverage the mobile version of CashPro for its convenience, security, and personalization capabilities.
With Capital Markets Insights, data previously gathered via disparate emails, phone calls, and third-party channels will now be automatically aggregated and presented on-demand in personalized views on the CashPro App, including:
- Market statistics including Bank of America's TED
- Same-day issuance information, new issuance data for past month
- The ability to search across investment grade secondary bond pricing data
"Our CashPro App is reaching a point of ubiquity amongst our clients thanks to its robust functionality and intuitive user interface," said Jon Klein, co-head of Global Investment Grade Capital Markets and head of EMEA Capital Markets at Bank of America. "By digitizing Capital Markets Insights within the app, clients will be able to act more quickly and efficiently based on relevant market information."
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
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Reporters may contact
Louise Hennessy, Bank of America
Phone: 1.646.858.6471
louise.hennessy@bofa.com
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SOURCE Bank of America Corporation