PayPal wants SMBs to become comfortable operating through AI; JPM is doubling down on physical presence; meanwhile, Klarna is turning payments into a recurring engagement mechanism.
These approaches highlight a deeper truth, financial relationships don't follow the same playbook anymore. Adapting to a respective customer base seems to be the best way.
ChatGPT can now connect to your bank accounts via Plaid, offering spending insights, subscription tracking, and financial dashboards, marking a revival of personal finance management (PFM).
Once a category that failed to find sustainable unit economics, PFM is back, and this time, with OpenAI's scale and Plaid's reach across 95% of US banks, it may finally have the right foundation.
Financial services are moving from a request-response model to an always on continuously interpreting background layer.
As finance moves into AI based systems, a new struggle is emerging: banks own the accounts, fintechs own the experiences, but AI systems are positioning themselves to own interpretation.
