THE PRIMARY BANKING AGENT

Summary from the TLDR Fintech newsletter

Primary banking used to mean physical proximity, then digital convenience. Trust is the new axis, and AI is what's driving that shift. Consumers now hold ~3 accounts each and move money more often, opening room for an AI "Primary Banking Agent" (like ChatGPT) to orchestrate funds across institutions. AI labs won't want the regulatory/accountability burden of actually holding money, so the bet is that whoever offers both the account and the agent, transparently, wins.