Fiserv Partners with Cognition to Modernize Banking with Devin AI

Financial technology company Fiserv has announced a strategic partnership with AI startup Cognition. Under this collaboration, Devin, an AI software engineer developed by Cognition, will be used to modernize Fiserv's core banking systems. Devin AI is known for its ability to automate and accelerate software development processes. Fiserv aims to leverage this technology to make its existing banking infrastructure more efficient, secure, and scalable. The partnership seeks to address challenges faced by large-scale financial institutions in updating legacy systems and driving digital transformation. Fiserv's extensive customer base could enable this AI-powered modernization to have a widespread impact on the industry. This innovative step in financial technology is expected to enhance Fiserv's competitive edge while strengthening Cognition's presence in the banking sector. The companies anticipate reducing operational costs and improving customer experience through the integration of Devin AI. This is not investment advice.