In recent years, the financial sector has undergone transformative changes driven by artificial intelligence, application programming interfaces (APIs), and digital tools. These advancements have significantly enhanced operational efficiency, customer engagement, and financial inclusivity. Global Finance recently highlighted the top innovators of 2025 from North America, showcasing how these organizations are reshaping the industry landscape. From Bank of America’s groundbreaking payment solutions to Battery Finance's pioneering use of Bitcoin as collateral, this year's winners demonstrate a commitment to pushing boundaries in financial technology.

The Bank of America stands out as a leader in innovation within North America. The institution reported a remarkable 12% increase in digital interactions last year, totaling an impressive 26 billion client engagements. Corporate clients utilized the CashPro app for over $1 trillion in payment approvals in 2024, marking a substantial 25% annual growth. Key innovations include CashPro Search with Investigations, offering comprehensive transactional search capabilities, and CashPro Capital Markets Insights, which integrates treasury information with investment-grade bond pricing in a mobile app. Additionally, Virtual Payables Direct was introduced, allowing buyers to enjoy card transaction benefits while suppliers receive payments via direct bank transfers.

Battery Finance emerged as the most innovative fintech company in North America. In November 2024, the firm executed a trailblazing financial deal by incorporating Bitcoin into a collateral package for refinancing Project Bank Street Court in Philadelphia. This dual-collateralized structure provided borrowers with uncorrelated downside protection and enhanced overall security. By leveraging Bitcoin alongside traditional assets, the transaction mitigated volatility risks while capitalizing on potential appreciation.

BMO also made strides through its Gen AI solution, Lumi Assistant. Utilizing Amazon Web Services and Anthropic’s large language model, this tool simplifies complex documentation for employees. Initially supporting 200 staff members, it expanded to assist 8,500 Canadian frontline workers and aims to reach over 14,600 personal and business banking employees by year-end. Similarly, BNY launched Virtual Account Based Solutions (VABS) in January, providing real-time cash management capabilities at the individual account level.

Globally, other notable innovations include Galaxy Digital’s tokenization of the 1708 Stradivarius violin “Empress Caterina,” creating immutable ownership records and enabling decentralized finance opportunities. Hedera’s Asset Tokenization Studio offers an open-source toolkit for streamlining bond and equity tokenization, reducing off-chain data management needs. Meanwhile, SAF enhances risk management using AI platforms V1 and V2, aligning with Basel III regulations. Lastly, Zenus Bank introduced an embedded banking platform enabling global institutions to establish US dollar accounts and process international transactions.

These developments underscore the critical role of innovation in driving the future of finance. Organizations across North America continue to redefine standards by integrating cutting-edge technologies into their operations, enhancing both customer experiences and internal processes. Through such efforts, they pave the way for a more inclusive, efficient, and technologically advanced financial ecosystem.