WHERE WILL BANKS MAKE MONEY IF IT ISN'T FROM PAYMENTS?

Summary from the TLDR Fintech newsletter

AI agents and programmable money are pushing financial value away from transaction processing and toward orchestration, identity, liquidity, compliance, and software. McKinsey estimates agentic AI could put $75 billion to $160 billion of payments revenue at risk by 2030, while Capgemini says $230 billion is already exposed across areas like FX spreads, correspondent fees, and float income. The emerging battleground is increasingly about who controls the intelligence that decides how money moves, whether that is a bank, fintech, software platform, or AI agent.