An automated tool that aggregates client data from internal and external sources can ensure that bankers are getting comprehensive information without a lot of legwork.  

Bank of America has an internal tool to help its employees prepare for client meetings more efficiently and effectively.  

Employees can use Banker Assist to collect information from internal and external databases, including government filings, to thoroughly prepare for meetings without spending hours on research. 

“You don’t want [employees] to spend three days preparing for the meeting, nor do you want them to spend only a couple hours preparing for the meeting and getting 10% of the information they need,” chief experience officer of business, Rob Pascal, told Insider. “That was the genesis of Banker Assist.” 

Beyond making employees more efficient, the tool also helps them forge deeper relationships, since they’re coming to client conversations with more context. They can also use Banker Assist’s desktop or mobile app to take notes following a meeting.  

BofA’s tool is just the latest example of FinServs using artificial intelligence to make datasets more accessible for employees: Morgan Stanley and investment firm EQT have both built similar internal products.