Bank of America embeds bond intelligence into its treasury app

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One of this year's innovations from Bank of America is based on a 25-year old product.

Clients have been using the bank's CashPro platform to manage cash positions, set forecasts and check balances globally since the turn of the 21st century, when the internet first came on the scene.

A mobile version of the app took off during the pandemic, and in 2025 CashPro processed more than $1 trillion in payments for 40,000 clients worldwide, according to Durkin. That's a huge opportunity, since the same clients using the app to manage cash flow are also the decision-makers when it comes to issuing corporate debt.

So last year, the bank added bond functionality to the existing CashPro platform, layering in a tool called CashPro Capital Markets Insight. This puts bond market intelligence inside the same app the treasurer is already using to check cash balances every morning.

"That's the core insight of the product," said Tom Durkin, head of CashPro at Bank of America. "The same people need both, so why not give it to them in one place?"

Right now a handful of clients are testing out the product, but BofA declined to share specifics. According to Durkin, about 70% of the clients BofA is targeting for capital markets activity are already using CashPro.

"So you don't need new IDs, you don't need a separate sign-on, which drives clients crazy the same as it does for all of us as consumers," he said. "They want simplicity. They want security, but they want convenience. So we leveraged the existing functionality."

So far, the Capital Markets Insight tool is only for information gathering, not for executing transactions.

But collecting all of the intelligence that's required to make a call on issuing debt has always been labor intensive and time consuming, so streamlining that process is a big win. Generally, clients and associates have to chase down tons of information, pull bank statements and assess the macroeconomic environment. Then all of that gets put into a report that has to be run up the chain of command.

"Too much manual work, not enough productivity," Durkin said. "This moves the conversation from aggregating data to analysis and decision."

The engine driving Capital Markets Insight is the bank's proprietary AI-driven Trade Evaluation Driver (TED) score. TED uses AI-driven analytics and real-time market data to produce a metric that helps clients assess the viability of investment grade issuances on any given day.

Durkin says transactions are the logical next step for the product, allowing clients to initiate pricing requests, access live orderbooks and manage issuance workflows from within the app. "We'll evaluate that with clients and come to a decision based on investment, the return, how many clients will use it," he said.

For now, though, the product is purely informational. The goal, he said, is to get the client to the decision faster — and then let the bankers take it from there.