Sallah Kokaina of McKinsey helps businesses transform through advanced technology. This involves software engineering and architecture, IT strategy, and digital delivery. In practice, I build platforms and lighthouses for the delivery life cycles of industrialized software. One of the biggest challenges when clients adopt new technology like gen AI is figuring out where to begin. It’s not as simple as waving a magic wand. But companies often rush into proof-of-concept projects to demystify the tech. This can lead to multiple failed attempts when transitioning to production. Fast is fine, but first you need a strategic approach. That’s why we tailor tools and platforms to maximize adoption and impact. We also help clients identify and establish the right operating model, manage change, and create a clear roadmap to their goals. Simply introducing a new tool isn’t going to guarantee results or successful scaling; transforming the whole organization is required. To that end, we’ve been working on distinctive assets and approaches to give clients a jump start in their AI journey. One of these is I2I—Idea to Impact—a framework that helps integrate gen AI throughout the product development life cycle while giving clients greater control. It supports key business needs like standardization, cost control, and data management. Clients who have used it have seen boosts in productivity and efficiency, giving them more time for collaboration and more impactful tasks.
Marco Argenti, Goldman’s chief information officer, argues that companies should empower young professionals with AI skills to help shape strategy
Goldman Sachs is paving the way for the next generation of finance leaders to shape the future of AI in the workplace. The bank hires about 2,500 to 3,000 interns each summer. For the 2025 internship class, Goldman received more than 360,000 applications—a 15% increase from last year. With an acceptance rate of just 0.7% this year, the program is highly competitive and serves as a pipeline for permanent positions. Marco Argenti, Goldman’s chief information officer, argues that companies should empower young professionals with AI skills to help shape strategy. While some predict agentic AI—autonomous systems that can perform tasks and make independent decisions—will displace junior roles, Argenti says the reality is more nuanced. Early-career workers are more essential than ever because they are “AI natives,” having grown up with generative AI and being uniquely equipped to adapt to and shape its future. Goldman recently launched its GS AI Assistant, an internal AI program that enables employees to interact with large language models securely firewalled within the company, reducing the risk of sensitive data leaks. The AI will be used for efficiency gains, the company said. Research shows that AI adoption among desk workers is accelerating. According to Salesforce’s latest Slack Workforce Index, a survey of 5,000 global desk workers found that daily AI users are 64% more productive and 81% more satisfied with their jobs than non-users. More than 95% of workers have used AI to perform tasks they previously lacked the skills to do themselves, and workers are now 154% more likely to use AI agents to enhance their performance and creativity rather than simply automate tasks, according to the findings. Notably, millennials are emerging as the leading AI power users at work: 30% say they thoroughly understand AI agents, surpassing even Gen Z (22%). As AI continues to redefine the workplace, companies like Goldman Sachs highlight the potential benefits of empowering AI natives. “How to Get ROI from AI in the Finance Function” is a report by Boston Consulting Group (BCG). The research finds that teams achieving strong ROI prioritize value from the outset, rather than pursuing learning for its own sake. Instead of focusing on isolated use cases, they adopt a broad, transformational approach. What sets outperforming organizations apart are the implementation tactics they use and the use cases they prioritize, according to the survey findings. Out of more than 30 implementation tactics that BCG tested, 10 stood out as the most successful—including integrating AI and generative AI into the overall finance transformation, systematic tracking, developing a clear data strategy, and focusing on quick wins.
Marco Argenti, Goldman’s chief information officer, argues that companies should empower young professionals with AI skills to help shape strategy
Goldman Sachs is paving the way for the next generation of finance leaders to shape the future of AI in the workplace. The bank hires about 2,500 to 3,000 interns each summer. For the 2025 internship class, Goldman received more than 360,000 applications—a 15% increase from last year. With an acceptance rate of just 0.7% this year, the program is highly competitive and serves as a pipeline for permanent positions. Marco Argenti, Goldman’s chief information officer, argues that companies should empower young professionals with AI skills to help shape strategy. While some predict agentic AI—autonomous systems that can perform tasks and make independent decisions—will displace junior roles, Argenti says the reality is more nuanced. Early-career workers are more essential than ever because they are “AI natives,” having grown up with generative AI and being uniquely equipped to adapt to and shape its future. Goldman recently launched its GS AI Assistant, an internal AI program that enables employees to interact with large language models securely firewalled within the company, reducing the risk of sensitive data leaks. The AI will be used for efficiency gains, the company said. Research shows that AI adoption among desk workers is accelerating. According to Salesforce’s latest Slack Workforce Index, a survey of 5,000 global desk workers found that daily AI users are 64% more productive and 81% more satisfied with their jobs than non-users. More than 95% of workers have used AI to perform tasks they previously lacked the skills to do themselves, and workers are now 154% more likely to use AI agents to enhance their performance and creativity rather than simply automate tasks, according to the findings. Notably, millennials are emerging as the leading AI power users at work: 30% say they thoroughly understand AI agents, surpassing even Gen Z (22%). As AI continues to redefine the workplace, companies like Goldman Sachs highlight the potential benefits of empowering AI natives. “How to Get ROI from AI in the Finance Function” is a report by Boston Consulting Group (BCG). The research finds that teams achieving strong ROI prioritize value from the outset, rather than pursuing learning for its own sake. Instead of focusing on isolated use cases, they adopt a broad, transformational approach. What sets outperforming organizations apart are the implementation tactics they use and the use cases they prioritize, according to the survey findings. Out of more than 30 implementation tactics that BCG tested, 10 stood out as the most successful—including integrating AI and generative AI into the overall finance transformation, systematic tracking, developing a clear data strategy, and focusing on quick wins.
Walmart’s second freestanding, 3D-printed store in Huntsville with 16-foot concrete walls to serve as the online grocery pick-up and delivery location
Walmart has partnered with 3D concrete printing company Alquist 3D and general contractor FMGI to complete construction of its second freestanding, 3D-printed store addition. Working with the two firms, Walmart printed the 16-foot concrete walls of the structure, which will serve as an extension of the grocery pickup area in Walmart’s supercenter in Huntsville, Ala. Set to open the week of May 5, the completed Huntsville addition will serve as the retailer’s online grocery pick-up and delivery location as part of an overall store remodel. Other companies working on Walmart’s Huntsville commercial 3D printing project included Sika USA, which supplied customized concrete mixes formulated to address varying environmental conditions. In addition, Alquist’s robotics partner RJC Technology, which furnished robotic systems designed to achieve high-precision printing with reduced labor requirements. “In a commercial construction world that pays so much attention to project timelines and costs, our work with Walmart shows that 3D printing isn’t just a novelty – it’s an innovation ready to scale for retail and other industries,” said Patrick Callahan, CEO of Alquist 3D. “This second project clearly demonstrates how retail expansions can be faster, more cost-effective and less wasteful, paving the way for broader adoption for large-scale commercial builds.”
Payment processors looking at platformization to offer an end-to-end product stack adjacent to payments such as advanced fraud prevention, network tokens, real-time account updates, and acceptance rate enhancement tools
“We’re seeing a shift where businesses are now looking for a payment processor that is more inclusive of a product stack, so a one-stop shop for everything,” Justin Downey, vice president of product at Maverick Payments, said. “Payment processors are looking for services that are adjacent to payments. That could be advanced fraud prevention, network tokens, real-time account updater, other tools that can increase the acceptance rate while reducing fraud,” Downey said. He highlighted the quest for a “frictionless checkout experience” — the new gold standard for merchants and consumers alike, as “something that truly makes it easy for customers to submit payments,” he added. The future Downey envisions, and the picture of the present he has painted, is neither purely competitive nor fully collaborative. It’s both. Processors will need to be architects — building unique, defensible intellectual property at their core — as well as curators, integrating complementary services to offer breadth and agility. The platformization trend means processors are stretching beyond payments into tangentially related domains — sometimes encroaching on territory once exclusive to FinTechs or even banks. “Payment processors are expanding into areas that are close to payments, but not exactly payments, like financial services, alternative payment methods, embedded finance,” Downey said. “Processors are in this unique position where, generally, they have a very strong distribution network, and they’re expanding into new product offerings that they can offer to their businesses, all as a one-stop shop. That’s a win-win for everybody,” he added.
Community banks and credit unions can enable extensibility through an internally built, custom middleware system, or by using external vendors with capabilities that stand on top of existing core systems
Through extensible capabilities, community banks and credit unions can punch above their weight by connecting to modern third-party apps and features — without swapping out their core systems. Extensible systems allow FIs to integrate with third-party apps with minimal friction, enabling easier access to account data and quicker pivots, says Christian Ruppe, SVP and chief innovation officer at Fitzgerald, Georgia-based Colony Bank. It lets banks and credit unions add modern apps and features — including quicker onboarding and transaction capabilities — without changing their core systems. Yet despite these benefits, many are falling behind on adoption. According to Ryan Siebecker, a forward deployed engineer at Narmi, a banking software firm, the route to extensibility can be enabled through an internally built, custom middleware system, or institutions can work with outside vendors whose systems operate in parallel with core systems, including Narmi. Other FIs that work with vendors — including Colony Bank and Grasshopper Bank — say using outside partners with capabilities that stand on top of existing core systems allow them to maintain lean internal operations without sacrificing the quality of the integrations. Luther Liang, SVP of product at Grasshopper Bank, told that by working with a vendor, the bank didn’t have to hire additional staff to manage software integrations enabled by extensibility. Colony Bank is starting to see results two years since it began its extensibility rollout. It’s enabled three major use cases: a modern account opening solution; an app that improves call center efficiency by allowing call center reps to co-browse with customers; and a client data visualization tool. Colony’s core provider “charges us per integration, and so now we’re not having to pay per integration — we have one integration, and we pay for that,” says Ruppe. “If you do it right, you can make it make sense immediately, but the long term is where you really win.” While Colony Bank might not be looking to compete with the top megabanks, “we know our communities better than they do…we can then provide technology that is specific to those customers,” he says.
J.D. Power Direct Banking Satisfaction Study: Charles Schwab ranks highest and AMEX is second among both checking and savings providers, Ally ranks third in checking, Marcus-Goldman Sachs is third in savings
According to the J.D. Power 2025 U.S. Direct Banking Satisfaction Study, overall customer satisfaction with direct bank checking accounts is 692 (on a 1,000-point scale), which is 24 points higher than the average regional bank and 35 points higher than national banks. Savings account satisfaction is even higher (705), which is 89 points higher than regional banks and 98 points higher than national banks. Charles Schwab Bank ranks highest in overall satisfaction among checking providers with a score of 740, marking the seventh consecutive year of being top ranked in the study. American Express (711) ranks second and Ally (694) ranks third. Charles Schwab Bank ranks highest in overall satisfaction among savings providers with a score of 748. American Express (737) ranks second and Marcus by Goldman Sachs (735) ranks third. Following are some key findings of the 2025 study:
- Checking satisfaction increases while savings satisfaction declines: The overall customer satisfaction score for direct bank checking accounts is 692, up 4 points from 2024. Overall satisfaction for direct bank savings accounts is 705, down 5 points from 2024. Both scores are still far higher than the average overall satisfaction scores for midsize banks, regional banks, national banks and neobanks.
- Support during challenging times drives satisfaction scores: The key performance indicator of “bank completely supports me during challenging times,” is responsible for a 73-point rise in checking account satisfaction and an 84-point rise in savings account satisfaction when banks hit the mark. When direct banks achieve these gains, customers reward the banks with higher utilization of direct deposit, higher investment account and credit card ownership, and a lower likelihood of moving deposits to another financial institution.
- Bank support resonating with younger customers: Members of Gen Z1 and Gen Y have the highest year-over-year increase in perceived level of direct bank support. Boomers believe their overall level of direct bank support has declined year over year.
Bank of America seeks to “bring the bank” to merchant services customers, integrating lending services and payments tied to back-office functions and virtual cards
The lines between software vendors, payment processors and merchant services are blurring, leading to changing buying decisions for merchants who are asking for more from their payment providers. Merchants, particularly small and mid-sized enterprises, are looking for service providers to help them run every aspect of their business, including automated employee time tracking, data management, streamlined B2B payments and marketing tools, going beyond transaction services. The merchants themselves are expanding their own business models, which typically involve selling direct to consumers. In doing so, they are leveraging the power of their brand for digital direct-to-consumer experiences, which require the use of payment facilitation or marketplace models. While these models reduce storefront overhead, they drive a new need in helping contend regulatory changes, security concerns and meeting the demands of burgeoning populations of end customers. Value-added services enable those merchants to garner repeat business, to collect data as consumers buy goods and services online — and merchants can offer loyalty and rewards as well as individualized engagement with consumers. Bank of America, for its own part, has conducted its own surveys of small- to medium-sized businesses (SMBs), to ask what merchant services meant to those clients. The customers said they wanted offerings from service providers that help them run every aspect of their business. “They’re looking to these merchant processors and acquirers to provide more than just a transaction service,” Bank of America Merchant Solutions Head Wally Mlynarski said. These growing companies want automated employee time tracking, data management to optimize inventory and streamlined B2B payments — along with marketing tools to enhance their presence across digital and mobile channels. For Bank of America, Mlynarski said, “We don’t stop at integrating into the merchant’s business — we want to integrate into the financial lives of the merchants well. We try to bring the bank to our customers and operate in their territory,” integrating, for example, lending services so that capital is available as needed, with payments tied to back-office functions so that merchants can pay their suppliers efficiently with virtual cards. Bank of America, Mlynarski said, has used a partnership approach to deliver those value-added service to merchant clients in the retail, restaurant and healthcare verticals, among others. “Building those partnerships fill any gaps we might have,” he said, and underpin long-term sustainable growth. In some cases, he said, client firms are seeking data and analytics functions from those clients, with integrations into enterprise resource planning (ERP) systems. Healthcare is a key example here, where back-office money movement needs to break free from paper-based communications and paper checks. Bank of America, he said, has been working to digitize those operations. Looking ahead, no matter whether they are consumer-facing or emanating from the back office, payments themselves should be intuitive and experiential, said Mlynarski, adding that transactions “should be in the background and automatic,” and they soon will be with artificial intelligence (AI) and biometrics.
Morgan Stanley to add crypto trading on E*Trade, the most direct move so far by a major US bank to let retail users buy and sell digital assets
Morgan Stanley is preparing to offer cryptocurrency trading on its E*Trade platform. This would be the most direct move so far by a major US bank to let retail users buy and sell digital assets. The change means state member banks no longer need to notify the Fed in advance of planned or current crypto-asset activities. These will now be reviewed through the standard supervisory process. The bank is exploring partnerships with crypto-native firms to support the technical side of the trading system. Morgan Stanley already offers some crypto-related products, such as ETFs, options, and futures. These are aimed at wealthier clients. The new plan would expand access to a broader group of users. If Morgan Stanley proceeds, it could increase pressure on crypto-focused platforms like Coinbase and Kraken. These firms currently serve a large share of the retail market. Meanwhile, E*Trade is introducing a new platform called “Power ETrade Pro” aimed at active traders. Currently in its pilot phase, the platform is scheduled for a full launch in June. The new platform will compete with services like Charles Schwab’s Thinkorswim and Robinhood’s Legend, offering customization of up to 120 tools across six screens. It will also include a separate desktop client in addition to existing web and mobile options.
Block 1Q 2025 reports growing engagement on Cash App with gross profit per monthly transacting active of $81, up 9% year over year; wants to make its agentic AI system for internal initiatives as the single, universal interface to help automate workflows and decision-making at scale
Block revised its full-year gross profit guidance to $9.96 billion, representing 12% year-over-year growth — a more conservative forecast reflecting macro headwinds and decelerated growth in Cash App’s core metrics. And with gross profit growing just 9% year over year, the company is now doubling down on three fronts: intelligent automation, credit accessibility, and brand reinvention. Perhaps the boldest claim in Block’s Q1 update revolves around its internal AI initiative: “goose.” Described as an “agentic system,” goose aims to be the universal interface for Block’s employees — and eventually its customers. The goal: to automate workflows and decision-making at scale. “Our first goal is to make goose our single interface for all of our functions,” explained Dorsey, noting that goose is already improving engineering productivity by 30%, and adding that the system will ultimately expand to every role in the company. “By the end of this year, goose will act as a personal CFO for consumers and a COO for sellers,” CEO Jack Dorsey said. Cash App Borrow — Block’s small-dollar, short-duration loan product — is emerging as a keystone of its monetization strategy. After receiving FDIC approval to issue consumer loans nationwide via Square Financial Services, the company is accelerating rollout across its Cash App user base. More than half of all Borrow loans are used within the Cash App ecosystem, the company reported, suggesting strong network lock-in. Notably, users who deposit their paycheck into Cash App are 2.5 times more likely to accept a Borrow offer than card-only users, and 13 times more likely than users with neither a Cash App Card nor direct deposit. This integrated financial model — what Block calls its “bank our base” strategy — aims to deepen engagement by turning casual users into multiproduct customers. Borrow is central to that transformation.
- Delivered year-over-year gross profit growth of 9% as we continue to launch new products across Square and Cash App to accelerate our growth at scale
- Growing engagement on Cash App with gross profit per monthly transacting active of $81 in Q1 on an annualized basis, up 9% year over year