Research
We write from operating experience: Visa-scale rails, a BMA-licensed digital asset bank, and the working systems we run today in payments, agent infrastructure, and programmable money.
- BriefingMay 2026
Twelve Questions CFOs Should Ask About AI Spending
This review helps a chief financial officer connect AI spending to returns, controls, data quality, security, and operating decisions.
- ThesisApril 2026
Why AI Agents Need a Simulation Layer
AI agents can call tools, but they cannot reliably predict the effects. A simulation layer lets an agent rehearse an action before a system commits it.
- Field NoteApril 2026
How We Adapted Simula for Compliance Scenarios
Synthetic compliance data must be reproducible, auditable, and useful for stress tests. We adapted the Simula framework to meet those requirements.
- BriefingFebruary 2026
What Banks Need for Agent-Initiated Payments
Visa, Google, and Mastercard have introduced protocols for agent-initiated payments. Banks now need controls that identify agents, authorize transactions, and preserve an audit trail.
- BriefingJanuary 2026
What Banks Need to Implement the GENIUS Act
The GENIUS Act gives banks a path to issue payment stablecoins. Banks still need operating controls, compliant infrastructure, and tested payment workflows.
- BriefingDecember 2025
Why Banks Disable AI Features Before Production
A successful pilot does not prove that an AI system is ready for production. Banks need controls that make model risk clear to compliance teams and examiners.
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