Banker Assist is an AI-powered tool used by BofA bankers to collect, record, and review client data. Many people have heard of Erica, Bank of America's virtual assistant for its retail banking customers, but few are familiar with its internal-facing application, Banker Assist. Bankers spend a lot of time researching their clients. "On-us" data refers to data the bank owns, and "off-us" data refers to third-party data, like government filings. The tool has over 700 users and can "save hours of research for each client brief," a Bank of America spokesperson told Insider via email.

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