The platform aims to reverse a decade-long trend that has seen over $3 trillion migrate from traditional institutions to fintechs and digital investment platforms. Founder and CEO Girish Mutreja argues that AI represents the next major interface for banking, providing a critical opportunity for legacy firms to reclaim customer relationships. By integrating with existing core and digital systems, Paywhere enables financial institutions to offer services within AI agents without requiring internal engineering overhauls or the development of proprietary AI models.
Paywhere launches AI banking layer to keep institutions relevant
As customers migrate their financial workflows into AI assistants like ChatGPT and Claude, Paywhere has launched a programmable banking platform to bridge the gap. The San Francisco-based company allows banks and credit unions to embed their services directly into third-party AI tools while maintaining full security and brand control.
Small businesses, which account for 99.9% of U.S. enterprises, represent the primary initial focus for the platform. These owners frequently rely on AI to manage cash flow and bookkeeping, yet they often find current bank portals either too simplistic or prohibitively complex. Paywhere’s technology allows these businesses to execute banking tasks within their preferred AI software while ensuring the institution retains oversight of permissions, entitlements, and account security. The company recently demonstrated this functionality at FinovateFall in New York, highlighting a pathway for banks to remain central to the customer experience as financial activity shifts toward autonomous digital tools.
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