Fiserv Partners with Cognition to Deploy AI Software Engineer Devin for Banking Modernization

Fiserv Deploys Cognition's AI Software Engineer to Transform Banking Infrastructure

Fintech giant Fiserv has announced a partnership with Cognition to deploy Devin, an AI software engineer, across its core platform modernization and strategic engineering initiatives 1

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. The collaboration addresses one of the financial technology sector's most persistent challenges: modernization, which has historically been among the slowest initiatives in financial services 2

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Devin operates at scale across complex codebases, executing end-to-end engineering tasks that include understanding codebases, writing and testing code, and iterating autonomously 1

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. This AI agent software engineer extends engineering capacity by handling complex engineering work in parallel, accelerating the pace at which Fiserv ships new capabilities to clients 2

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Strategic Focus on Speed and Modernize Banking Tech Efforts

"Speed matters more than ever in banking, and our clients are counting on us to deliver," said Dhivya Suryadevara, co-president of Fiserv. "With Devin, we can accelerate modernization of the platforms our clients run their business on, ship new capabilities faster, and free our teams to focus on the work that matters most" 1

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The deployment enables human teams to concentrate on delivering improvements that matter most to clients, from shipping enhancements and strengthening quality checks to improving platform resilience 1

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. Fiserv is also strengthening governance and security controls for AI-assisted development to protect the integrity of the software lifecycle 1

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Cognition's Momentum and Broader AI Integration at Fiserv

The partnership comes one day after Cognition announced raising $1 billion in a new funding round, valuing the company at $26 billion 2

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. The startup plans to use the funding to continue expanding Devin. "We launched Devin two years ago as the first AI software engineer," Cognition stated. "Since then, cloud agents have gone from niche to mainstream, and today they are the fastest growing way to create software" 2

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This collaboration builds on Fiserv's broader effort to embed AI into its technology operations and product development 2

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. Earlier this month, Fiserv announced an agentic AI operating system designed for banking, called agentOS, created to help financial institutions deploy, manage and scale AI agents across their workflows 2

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. The fintech also announced a collaboration with OpenAI to put frontier AI to work at financial institutions 2

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As banks have spent years building data infrastructure, the industry now confronts critical questions about who builds the infrastructure for autonomous code systems, who sets the rules, and who captures the value 2

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. The deployment of Devin across platform modernization initiatives signals how financial institutions are moving beyond experimental AI use cases toward operational integration that could reshape software development timelines and resource allocation in banking technology.