Paywhere launches banking services through AI assistants

By Divya Shah

Paywhere has announced the commercial availability of its programmable banking platform, designed to help banks and credit unions securely deliver services through AI assistants, applications and autonomous agents. 

The platform enables financial institutions to connect with customer-facing AI tools such as ChatGPT, Claude and Microsoft Copilot while maintaining their existing brand identity, account structures, permissions and compliance controls.  

The solution acts as a financial-grade connective layer, allowing customers to carry out banking activities within the AI environments they already use. 

Both retail and business banking customers are increasingly turning to AI platforms as primary workspaces for managing tasks and accessing information. Paywhere aims to help financial institutions meet customers within those digital ecosystems without requiring them to build proprietary AI systems. 

“AI will be the new interface of banking and the institutions that meet customers there, on their own terms and under their own controls, have a real chance to strengthen relationships and remain relevant in the age of AI,” said Girish Mutreja, Founder and CEO of Paywhere. 

The company also highlighted a gap in AI adoption across the banking sector. Cornerstone Advisors data shows that only 7% of banks and 17% of credit unions have implemented AI in some form, creating an opportunity for institutions to accelerate digital engagement strategies. 

“Banks and credit unions do not need to build AI to stay relevant. They need to be connectable to the AI platforms their customers already trust, and that is what programmable banking makes possible,” said Brett Vasconcellos, Co-founder and Chief Strategy Officer of Paywhere. 

Paywhere said its platform integrates with existing core banking, digital banking and bank operating systems, allowing institutions to deploy AI-enabled customer experiences without relying on in-house engineering teams.  

The company added that institutions retain oversight of customer interactions while determining what actions are permitted within AI environments.