Trish Gillis—pictured in front of the CashPro patent wall at Bank of America—holds multiple patents that elevate the user experience while enhancing security on the platform.
Presented by Bank of America
By: Trish Gillis, Director and Senior Product Manager for CashPro, Bank of America Chicago
Innovation represents the crux of any business, and as Chicago makes progress toward its goals to be the Silicon Valley of the Midwest, there is no shortage of innovation happening in the city.
But you might be surprised that much of it is coming out of Bank of America. Now considered one of the nation’s top innovators, the company recently announced a record year for its patent portfolio, with our teammates holding nearly 6,600 patents, an increase of 70% since 2019.
My background in mathematical business took me on a career path that included treasury management and, later, supply chain management for a beauty and skin-care startup, supporting its 800% annual growth and acceleration to “unicorn status.” It was exciting, but I still craved a role where I could marry my analytical background with my passion for creativity.
I was thrilled to find that at Bank of America in Chicago.
In my current role, I lead innovation, product development and user experience for the CashPro app. CashPro is Bank of America’s transformative digital banking platform that helps 40,000 corporate and commercial clients—and 500,000 users globally—manage their treasury, trade, and credit operations digitally. CashPro clients, which span small companies to large multinationals, use the platform to monitor payments, deposits, loans, and trade finance transactions, and its premium user experience is delivered through multiple patented processes.
PICTURED: Trish Gillis, senior product manager and inventor at Bank of America, demonstrates the latest innovations at work in the CashPro App to clients in Chicago.
For example, today’s CashPro users leverage one of our patented processes to use their mobile device as a biometric authenticator for their computer, saving countless hours of manual login and authentication. We also hold a patent that enables real-time, two-way video authentication and one that governs the creation of a biometric-generated one-time password on a smartwatch. While not all these innovations are integrated into the CashPro platform just yet, we believe they will inform and enhance our users’ experiences over the next several years.
Woven deeply into the fabric of Bank of America is the space and freedom to innovate. Our team is consistently investigating innovation happening outside of the financial industry, and we come together routinely for high-impact brainstorming sessions to consider what tools and capabilities the bank’s clients may need one, five, and even 10 years into the future. We also meet regularly with our client advisory group, which includes Chicago-based companies and executives, to gather intel and ensure our innovations always drive value for their businesses and customers.
Our objective through innovation is to anticipate clients’ needs, simplify their experiences, and enhance the value of our platforms. And we’re doing just that.
Bank of America has more than 7,300 inventors across 42 states and 14 countries, so it’s no surprise that Global Finance magazine named it the Most Innovative Bank in North America for 2024. Looking ahead, Bank of America is focusing future innovation around key areas including artificial intelligence, machine learning, and quantum computing. Last year, one in every five patents granted was related to AI and machine learning, so we expect even more patents be granted in these promising areas across our teams and our lines of business.
For more information about how Bank of America’s CashPro platform can support your business, please visit the official dashboard.