From Stablecoins to AI Banking: Circle Co-Founder’s Next Billion-Dollar Bet on Agentic Finance
“That is the road Sean Neville, co-founder of Circle and a principal architect of the USDC stablecoin, has set out to travel again with Catena Labs, a Boston-based startupthat emerged from stealth May 20 with $18 million in seed funding led by a16z crypto. Catena’s goal is to build what Neville called the world’s first “AI-native” financial institution. It will be regulated, licensed and purpose-built for a future in which autonomous software agents, nothumans, initiate and settle most transactions.”
Most Financial Institutions Using Generative AI
“The survey of more than 400 banks worldwide, conducted by Hanover Research for banking technology provider Temenos, found that 11% of respondents had already implemented generative AI, while an added 43% were in the process of doing so.”
Reality Check: Can AI and Open Banking Really Drive Engagement and Growth?
“Whether your goal is to improve digital account opening for Gen Z, offer innovative payment methods, streamline small business loan underwriting, or combat fraud and cyber threats in real-time, access to comprehensive data is non-negotiable. However, the fragmented nature of consumers’ financial lives presents a significant challenge, with the average U.S. adult maintaining relationships with 15 to 20 financial service providers and apps…Download the 2025 Strategy Benchmark to unlock the power of data, refine your strategy, and compete effectively.”
Banking on Automation, Efficiency & Improvement with AI
“When it comes to PNC’s prudent approach to innovation and AI, Carroll leans into the enterprise’s core messaging of brilliant and boring. ‘While AI may not seem boring at face value, our priorities are intentionally focused on responsibility, security, quality and driving efficiencies,’ he says. ‘Our human-in-the-loop approach means our employees continue to play a critical role in managing data and automation technologies and strive for the highest level of quality. It’s important that we consistently demonstrate our commitment to responsible AI to our customers, shareholders and employees.’”
Griffin Launches MCP Server for Agentic AI Banking
“Griffin’s MCP server launch will offer developers tools to simulate autonomous financial workflows and marks a step toward turning agentic finance from theory into action. While many AI tools for financial services are currently limited to narrow use cases like chatbots, Griffin is building infrastructure that could allow agents to directly open accounts, initiate payments, and manage money autonomously. If agentic applications mature, the MCP server could evolve firms’ AI use from chatbots to fully autonomous wealth managers.”
The Future of Finance 2025: Fit for Growth, Built for Purpose
“AI, a game changer if implemented boldly with focus, may not be enough. If AI has not yet delivered for all banks, that may be due more to challenges in scaling and a lack of holistic adoption by employees and customers than to issues with the technology. As agentic AI and machine voice emerge as even greater productivity levers, winners will take a bold but focused approach to incorporating them. AI alone may not be sufficient, however. Much of the potential value could be captured by nonbank players that are currently better positioned to benefit from its applications.”