Business of Fintech, Member Exclusive

Financial firms are building new businesses from the layers beneath their products

  • Intuit is opening up its financial intelligence to AI agents, while SoFi is making its infrastructure programmable.
  • Both firms are betting that the layers beneath their products can become businesses in their own right, creating value across new interfaces, businesses, and customer relationships.
close

Email a Friend

Financial firms are building new businesses from the layers beneath their products

Financial technology is moving toward a model where products and capabilities can be applied well beyond their original use cases. For Intuit and SoFi, that shift is leading to two different pathways.

Intuit is opening up its financial and business software to an agentic AI environment through a new partnership with Perplexity. SoFi, meanwhile, is turning its financial infrastructure into building blocks that other companies can use to create their own products. Each move signals a different vision for how the company can remain relevant as customer needs evolve.

Intuit is making its financial intelligence usable beyond its own software

Intuit’s partnership with Perplexity is, at its core, a bet that business software will increasingly be accessed through AI rather than through the traditional software interface. Perplexity has evolved from an AI-powered search and answer engine into an agentic assistant that can work across applications and execute multi-step tasks.

Announced August 31, the partnership integrates QuickBooks and Mailchimp into Perplexity Computer, the AI company’s agentic assistant. Using Model Context Protocol connectors, customers can access Intuit’s functionality directly within their Perplexity workflows.

The difference between this and a conventional AI search experience is what users can do. A business owner can use the integration to manage cash flow, follow up on overdue invoices, set up recurring billing, and distribute payment links – all within Perplexity. They can retrieve pay slips and employee payroll information, while marketing teams can track campaign performance and analyze data to identify actions that could generate revenue.

Intuit sees an opportunity to take that capability further, moving from executing individual tasks to handling more complex work on a business’s behalf. “By pairing their AI platform with the rich data and deep domain expertise behind our trusted financial system of intelligence, we’re empowering customers to seamlessly execute complex tasks to successfully run and grow their businesses,” said Alex Balazs, Intuit’s Chief Technology Officer.

…


0 comments on “Financial firms are building new businesses from the layers beneath their products”

10-Q, Member Exclusive

Jane Fraser sees a future in tokenized deposits. Coinbase shows why Citi needs stablecoins, too.

  • Citi sees tokenized deposits as a lower-friction way for corporate clients to move money on blockchain while keeping funds within existing banking relationships.
  • Its expanded Coinbase partnership brings stablecoin acceptance and conversion into the mix, helping Citi defend its role in corporate treasury as digital payments evolve.
Sara Khairi | October 19, 2026
Designing new products, Member Exclusive, Opinion

Banking has had a product mindset problem, but it might be starting to get better

  • The product mindset gap comes down to whether banks build around internal structures or the problems customers are trying to solve.
  • AI is pushing product thinking further, challenging banks to move beyond features and interfaces toward responsive products that understand context and help customers get things done.
Sara Khairi | October 16, 2026
Blockchain and Crypto, Member Exclusive, Payments

Coinbase is taking stablecoin rails into banking, expanding the market for both

  • Coinbase is expanding stablecoin payments through banking networks of all sizes to diversify beyond trading revenue.
  • Moov connects Coinbase to community banks, while Citi opens access to institutional payment flows.
Javarya Kamran | October 15, 2026
10-Q, Member Exclusive

Financial companies are building closer to the customer

  • EverBank-WaFd shows banks moving beyond the digital-versus-branch debate, combining EverBank’s digital deposits and national lending with WaFd’s branches and relationship banking to own more of the customer relationship.
  • Circle-Tazapay takes a similar approach from the payments side, adding banking relationships and local payment rails around USDC.
Sara Khairi | October 14, 2026
Business of Fintech, Member Exclusive

Can banks buy fintechs without losing what makes them work?

  • Can a bank absorb a fintech’s customers, technology, and talent without losing the product judgment and culture that made those assets valuable in the first place?
  • Valley Bank’s acquisition of Bluevine puts that question into practice, with implications for product development, customer acquisition, and technology strategy.
Sara Khairi | October 13, 2026
More Articles