JPMorgan’s AI-Aided Cashflow Model Can Cut Manual Work by 90%

JPMorgan Chase & Co.helped some of its corporate customers slash manual work by almost 90% with its cashflow management tool that runs on artificial intelligence, bringing the largest US bank one step closer to charging for this service.

“We are going to keep investing into this solution because we see that we’re starting to really crack this workflow,” said Tony Wimmer, head of data and analytics at JPMorgan’s wholesale payments unit, in an interview. Since launching about a year ago, his firm now has about 2,500 clients using the product, he said.

The tool, which allows corporate treasuries ...