Fiserv and Cognition have announced a strategic partnership to deploy AI software engineer Devin across core banking platform modernisation.
Under the agreement, Devin will be deployed across core platform modernisation and other strategic engineering initiatives at Fiserv, executing complex engineering tasks in parallel. These include understanding large codebases, writing and testing code, and iterating autonomously — capabilities that are intended to extend engineering capacity and allow teams to redirect focus toward quality improvements, platform resilience, and faster feature delivery.
Addressing a long-standing bottleneck in financial services
Modernisation of core banking infrastructure has historically been among the slowest and most resource-intensive undertakings in financial services. Legacy systems, complex interdependencies, and the need to maintain operational continuity throughout any upgrade create significant constraints on the pace at which banks and financial institutions can adopt new technology. The deployment of AI-assisted engineering tools represents one approach the industry is beginning to test at scale to address these constraints.
According to the official press release, as part of the deployment, Fiserv has indicated it is also strengthening governance and security controls for AI-assisted development, with the stated intent of protecting the integrity of the software lifecycle. This reflects a broader consideration within the sector around how AI tools are integrated into regulated environments where software quality, auditability, and security carry particular weight.
The collaboration is framed as part of Fiserv's wider strategy to embed AI across its technology operations and product development. The company serves a broad base of financial institution clients and positions the partnership as a means to translate AI capability into measurable client value, specifically through more consistent releases, faster access to new product features, and continued attention to quality assurance.
Fiserv is described as part of a growing cohort of financial services organisations deploying Devin for purposes including product delivery acceleration, platform modernisation, automated testing expansion, and AI development governance.
The US-based Fiserv is listed on NASDAQ under the ticker FISV. Cognition, also based in the US, describes itself as an AI agent lab. The partnership does not include disclosed financial terms.
