US company Casap, which builds AI agents for financial institutions, has raised $56 million in a Series B round led by Base10 Partners, with strategic participation from Experian and Synchrony. Its total funding reaches $90 million, just over a year after its Series A. Casap says it has grown revenue tenfold and is expanding from payment disputes and fraud into other critical banking operations. According to the company, customers have cut some first-party fraud losses by up to 51%.

What it means: Card payment disputes are one of the most expensive processes for a bank. Each case requires gathering evidence, contacting the merchant and reaching a decision within strict deadlines, and for small amounts many banks prefer simply to side with the customer. This opens the door to so-called first-party fraud, when customers themselves dispute a legitimate purchase. AI agents that organise evidence and propose a decision can cut costs, but there is an opposite risk: an automated system that wrongly rejects genuine disputes harms consumers and exposes the bank to penalties. In the EU, using AI in decisions that affect customers ties in with the AI Act and with GDPR transparency requirements for automated decisions. For Greek banks and payment providers, human oversight of final decisions and the customer's right to ask for a review remain essential. For merchants, the trend means banks will ask for proof of delivery and customer communication faster and in a more structured way.

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