Mapping Out the Generative AI Future at Three Large Fintechs

Over the past five years, Javelin Strategy & Research has persistently raised the alarm about the escalating influence of three dominant fintech platforms—Intuit, Block, and PayPal—and the looming challenges they pose to traditional financial institutions that serve small businesses. As generative AI has made its dramatic entrance into our personal and professional lives over the past year, banks, vendors, and fintechs are racing to determine the most impactful customer-facing applications for this game-changing technology while overcoming its myriad complexities and hurdles. 

Banks are already playing catch-up. In the past few months, large fintech companies have introduced tools based on generative AI that help their small-business customers operate more efficiently and make smarter financial decisions—and they’re planning for much more. This impact note highlights key organizational and technological developments in the works at these three large fintechs and speculates about how generative AI could improve their respective value propositions and accelerate their advances in the small-business financial services market.