Deutsche bank’s CashPro Gets AI Boost, Delivers ‘Jaw-Dropping’ Insights to Corporate Clients

NEW YORK – deutsche Bank is substantially upgrading its CashPro platform with artificial intelligence (AI) and enhanced data analytics, aiming to provide corporate treasurers with unprecedented visibility into their cash flow and financial operations. The move underscores a broader industry shift towards real-time treasury management, offering clients a competitive edge in today’s dynamic economic landscape.

CashPro insights, the platform’s data analytics component, is already proving transformative, according to Angela Brown, assistant Treasurer at continental.”The amount of data we can now tap into using CashPro Insights is jaw-dropping,” Brown stated. “We had been creating these KPIs internally,and it took many steps to get to these same valuable data points. Now they are right at our fingertips.”

The platform’s capabilities extend beyond simply reporting on current activity. Deutsche Bank is leveraging AI to proactively identify trends and potential issues, helping clients anticipate future needs and optimize their financial strategies. “We’re focused on showing clients not just what they are doing today, but what they should be doing,” explained Sean Durkin, a Deutsche Bank executive involved in the platform’s development.

Beyond Data: Flexibility and Access

CashPro’s appeal isn’t solely based on its analytical power. The platform offers a flexible,multi-access approach,catering to diverse client preferences. Clients can access data and functionality via a mobile app, a web-based platform, or through Submission Programming Interfaces (APIs) for direct data integration.

“CashPro can meet the clients wherever they are,” Durkin noted. “Some clients may pull real-time data through the CashPro API, use the online experience for CashPro Chat, and rely on the mobile app to review and approve payments.”

Strategic approach to Agentic AI

Deutsche Bank is proceeding cautiously with the integration of “agentic AI” – AI systems capable of autonomous action. While acknowledging the potential benefits, the bank is prioritizing robust controls and thorough evaluation. “We’re interested in building that, but we also want to make sure we have the right controls around its use,” said David McKibben, another Deutsche Bank leader. “We’re deep into evaluating it.”

The Future of Treasury is Real-Time

This investment in CashPro reflects a basic shift in the treasury function. Traditionally reliant on ancient data, treasurers are now demanding – and receiving – access to real-time details.”Increasingly, data is becoming more ‘real-time’,” McKibben explained. “You want customers to get really valuable insights into the data and their cash flow to make more dynamic decisions.”

Deutsche Bank views CashPro as a continuously evolving platform. “I think it’s already pretty smart, but as with any human, you’re never done learning,” Durkin concluded, signaling a commitment to ongoing innovation and betterment.

Evergreen Insights: The rise of the Intelligent Treasury

The evolution of platforms like CashPro highlights several key trends reshaping corporate treasury:

Data as a Strategic Asset: Access to thorough, real-time data is no longer a luxury, but a necessity for effective financial management.
The API Economy: Seamless data integration through APIs is crucial for automating workflows and maximizing the value of treasury data. AI-Driven automation: AI is poised to automate routine tasks, freeing up treasurers to focus on strategic decision-making.
The Importance of Control: As AI becomes more prevalent,robust governance and risk management frameworks are essential to ensure responsible and ethical use.* Omnichannel Access: Modern treasury platforms must provide flexible access options to accommodate diverse user needs and workflows.

What specific data sources does CashPro’s Gen AI utilize for predictive forecasting?

BofA’s Gen AI Boosts Treasurers’ Control on CashPro Platform

Enhanced Cash Visibility with AI-Powered Insights

Bank of America (BofA) is significantly enhancing its CashPro platform with generative artificial intelligence (Gen AI) capabilities, offering corporate treasurers unprecedented control and insight into their cash positions. This isn’t just about automation; it’s about transforming how treasurers analyze data, forecast needs, and mitigate risk. The integration of Gen AI into CashPro addresses key challenges in corporate treasury management, including complex data analysis and the need for faster, more informed decision-making.

Understanding the New Gen AI Features

BofA’s Gen AI tools within CashPro are designed to move beyond traditional reporting.Here’s a breakdown of key functionalities:

Natural Language Querying: Treasurers can now ask questions about their cash positions in plain English, eliminating the need for complex report generation or data extraction. For example, “Show me all payments over $100,000 made to suppliers in Germany last month.”

automated anomaly Detection: The AI algorithms continuously monitor cash flows, identifying unusual patterns or potential fraudulent activity. This proactive approach to fraud prevention significantly reduces risk.

Predictive Forecasting: Leveraging ancient data and market trends, Gen AI provides more accurate cash flow forecasts, enabling better investment and borrowing decisions.This is crucial for working capital management.

Personalized Insights: The platform learns from user behavior and provides tailored recommendations, streamlining workflows and highlighting critical details.

benefits of AI-Driven Treasury Control

The advantages of integrating Gen AI into a platform like CashPro are ample. These benefits directly impact a company’s bottom line and operational efficiency:

Improved Decision-Making: faster access to accurate insights empowers treasurers to make more informed decisions regarding investments, borrowing, and risk management.

Reduced Operational Costs: Automation of routine tasks frees up treasury staff to focus on strategic initiatives. treasury automation is a key driver of efficiency.

Enhanced Risk Management: proactive anomaly detection and fraud prevention minimize financial losses and protect the company’s reputation.

Optimized Cash Flow: Accurate forecasting and efficient cash allocation maximize returns on investments and minimize borrowing costs.

Increased Efficiency: Natural language querying and personalized insights streamline workflows and reduce the time spent on data analysis.

A multinational manufacturing company used the anomaly detection feature to identify a fraudulent payment attempt, preventing a important financial loss.

A retail organization leveraged the predictive forecasting capabilities to optimize its working capital, reducing borrowing costs by 15%.

A technology firm utilized natural language querying to quickly analyze its global cash positions, enabling a strategic investment decision.

Practical Tips for Leveraging Gen AI in CashPro

To maximize the benefits of BofA’s Gen AI-powered CashPro platform,consider these practical tips:

Data Quality is Key: Ensure the accuracy and completeness of your data to maximize the effectiveness of the AI algorithms.

Start Small: Begin by focusing on specific use cases and gradually expand the implementation as you gain experience.

Train Your Team: Provide adequate training to treasury staff on how to effectively utilize the new Gen AI features.

Monitor performance: Continuously monitor the performance of the AI algorithms and provide feedback to BofA to improve accuracy and relevance.

Explore Customization Options: work with BofA to customize the platform to meet your specific business needs.

Automated Risk Mitigation: AI-powered systems