Core banking modernization: AI deployment

What happened: Banco do Brasil won the 2026 Celent Model Bank of the Year Award for its exceptional AI and data analytics implementation, aligning with a customer-centric strategy. Mastercard launched Agent Pay for Machines, enabling autonomous agents to move money across cards, bank accounts, and stablecoins. Visa announced AI-agent payments and stablecoin settlement tools, integrating them into its global payments network. Fiserv partnered with Cognition to deploy Devin, an autonomous AI software engineer, for core banking modernization.

Market impact: These developments signal a significant push towards AI and digital transformation in the banking and financial services sector. Banks and payment networks are increasingly adopting AI and blockchain technologies to enhance customer experience, streamline operations, and tap into the growing crypto market. Companies like Mastercard, Visa, and Fiserv are well-positioned to benefit from this trend, while traditional banks are under pressure to modernize their core systems.

What to watch next: Investors should monitor Visa's and Mastercard's earnings reports (Q2 2026, expected in late July) for updates on the adoption and revenue potential of their AI and crypto-related services. Additionally, keep an eye on Fiserv's progress with Devin, with a potential update at their annual shareholder meeting in September 2026. Lastly, regulatory clarity on crypto and AI in finance, expected by the end of 2026, will shape the narrative around these technologies' integration into mainstream finance.