AI as the cost lever of a remittance network: ML fraud scoring since 2017, an AI support assistant that most customers never escalate, and under a new CEO in 2026 an explicit plan to hold headcount flat while revenue grows 20%.
How is Remitly using AI?
Remitly's AI strategy runs through its cost base: an AI virtual support assistant that resolves issues four times faster with only 3% of customers asking for a human, machine-learning fraud models since 2017 and an upgraded AI fraud model that cut Q4 2025 transaction losses to a record 7.3 basis points of send volume. New CEO Sebastian Gunningham said in May 2026 that AI-enabled streamlining had removed more than 250 roles and that headcount would stay below plan while revenue grew 20% to $495.2 million in Q2 2026.
Category
Payments
Founded
2011
Headquarters
Seattle, United States
Licence and supervision
Not a bank. Registered money services business with FinCEN and licensed as a money transmitter in the 49 US states that require it plus DC and US territories; payment institution licensed by the UK FCA (e-money licence pending) and by the Central Bank of Ireland for the EEA; registered money services business in Canada.
Scale
10.2 million quarterly active customers, $23.5 billion of send volume and $495.2 million of revenue in Q2 2026 (quarter to June 30, 2026)
Flagship platform
AI-powered virtual support assistant
AI leadership
Sebastian Gunningham · Matt Oppenheimer · Vikas Mehta
- Remitly's AI-powered virtual support assistant, launched in 2024, resolves customer issues four times faster and cuts average support time by 75% while matching human agents on satisfaction; Remitly says only 3% of customers choose to speak to a human and first-contact resolution is over 74%. More than 95% of 2024 transactions completed without any support contact.
- Machine learning has been used against fraud since 2017; models now evaluate tens of thousands of transactions an hour, and on the Q4 2025 call co-founder Matt Oppenheimer said a recently upgraded AI fraud model drove record-low transaction losses of 7.3 basis points of send volume and roughly $10 million of incremental revenue less transaction expense versus forecast.
- Sebastian Gunningham, a former Amazon senior vice president, became CEO on February 19, 2026, with Oppenheimer staying as chairman; on his first call (May 2026) he reported more than 250 headcount reductions and over 50 roles redeployed through AI-enabled streamlining year to date, and set AI-driven real-time pricing across 5,000-plus corridors as a near-term goal.
- By the Q2 2026 call Gunningham framed AI's benefits as speed, trust and cost, said cost was 'the clearest AI win so far', that AI-driven productivity had let Remitly hold headcount below plan, and that the company tracks AI usage 'down to the individuals' and is launching agents for internal tasks; technology and development expense fell to 11.2% of revenue.
- Q2 2026: active customers 10.2 million (up 20%), send volume $23.5 billion (up 27%), revenue $495.2 million (up 20%), adjusted EBITDA $114.7 million (up 79%), net income $205.9 million including a $140.6 million tax benefit; Remitly Business passed 25,000 users.
- Remitly One, launched September 9, 2025, bundles Remitly Flex ('send now, pay later' up to $250), a Remitly Wallet with USDC holdings and a planned US line of credit from spring 2026, moving the company beyond remittances; the FY2025 10-K describes an 'artificial intelligence-powered' marketing system for multi-product engagement.
- The 10-K (filed February 18, 2026) lists machine-learning-based fraud scoring, electronic KYC and real-time payment authentication as unified risk systems across products; Remitly had over 3,200 full-time-equivalent employees at end-2025 and closed its Israeli R&D hub in February 2026, cutting about 110 jobs.
What is AI-powered virtual support assistant?
Launched in 2024 alongside an AI-enhanced help centre, the assistant handles tasks from cancelling or amending a transfer to tracking its status. Remitly says it guides customers to resolution four times faster, cutting average time spent with support by 75% while matching human agents on customer satisfaction across phone and chat; only 3% of customers choose to speak to a person and first-contact resolution exceeds 74%. Alongside it, machine-learning fraud models evaluate tens of thousands of transactions an hour and a platform-wide AI fraud model deployed in late 2025 drove record-low transaction losses.[6][7][5]
What has Remitly done on AI, and when?
- Aug 5, 2026
Q2 call: speed, trust, cost[3]
Gunningham said cost is the clearest AI win so far, headcount is being held below plan, AI usage is tracked down to individuals and code output, internal agents are being launched, and technology expense fell 175 basis points to 11.2% of revenue from embedding agentic AI in engineering and product teams.
- Aug 5, 2026
Record Q2 2026: 10 million active customers[2]
Revenue $495.2 million (up 20%), send volume $23.5 billion (up 27%), adjusted EBITDA $114.7 million (up 79%); Gunningham said 'AI-driven operating efficiencies' were creating additional capacity and full-year guidance was raised.
- May 6, 2026
New CEO: 250-plus roles cut through AI-enabled streamlining[4]
Gunningham's first call reported more than 250 headcount reductions and over 50 roles redeployed year to date, a shift to smaller autonomous teams, AI embedded 'across everything we do', and real-time automated pricing across 5,000-plus corridors as a near-term AI goal.
- Feb 18, 2026
Q4 2025 call: AI fraud model drives record-low losses[5]
Oppenheimer said an upgraded fraud model using AI and integrated platform data drove record-low transaction losses (7.3 basis points of send volume) and about $10 million of incremental RLTE, that agent-automated workflows were cutting developer time, and that agentic AI would expand company-wide in 2026.
- Feb 18, 2026
- Feb 5, 2026
Israel R&D hub closed, about 110 jobs cut[11]
Three years after buying Rewire for $80 million, Remitly closed its Israeli development centre, cutting more than half of its roughly 200 local staff.
- Sep 9, 2025
Remitly One membership launches[9]
Remitly Flex (send now, pay later up to $250), Remitly Wallet with multi-currency and USDC holdings, and a US line of credit planned for spring 2026; Oppenheimer called it the evolution 'from a remittance provider to a trusted financial partner'.
- Apr 25, 2025
CEO letter: 95% of transactions need no support contact[8]
Oppenheimer's 2024 shareholder letter reports over 92% of transactions disbursed in under an hour and more than 95% completed without a single support contact.
- Dec 6, 2024
Remitly describes its ML fraud programme[7]
Machine-learning models, used since 2017, evaluate tens of thousands of transactions an hour to catch identity theft and card fraud, with a stated goal of reducing interventions on legitimate customers.
- Nov 22, 2024
AI virtual support assistant results published[6]
Remitly's product and engineering leads report the assistant resolves issues four times faster, cuts support time by 75%, matches human satisfaction scores, and that only 3% of customers opt for a human; first-contact resolution passed 74%.
Where does Remitly use AI today?
| System | What it does | Status | Use case |
|---|---|---|---|
| AI virtual support assistant[6] | Handles cancellations, amendments and transfer tracking; four times faster resolution, 75% less time in support, satisfaction on par with agents, 3% of customers escalate to a human. | In production | Customer-facing chatbots |
| ML fraud scoring and the 2025 AI fraud model[7][5][1] | Models evaluating tens of thousands of transactions an hour since 2017; an upgraded platform-wide AI model deployed late 2025 drove record-low transaction losses of 7.3 basis points of send volume. | In production | Fraud detection |
| Electronic KYC and real-time payment authentication[1] | The 10-K describes unified risk systems, including electronic KYC, ML fraud scoring and real-time authentication, deployed across all products and jurisdictions. | In production | AML / KYC |
| Agentic AI in engineering and product[5][3] | Agent-automated workflows replaced multi-source, multi-judgement product processes; technology and development expense fell to 11.2% of revenue in Q2 2026, which the CFO attributed to embedding agentic AI in engineering and product teams. | In production | AI-generated code & coding agents |
| AI-driven real-time corridor pricing[4] | Near-term goal set in May 2026: automated real-time pricing across more than 5,000 corridors so regional leaders can capture incremental demand. | Rolling out | Generative & agentic AI |
| AI-powered marketing engine[1] | The 10-K says Remitly is transforming marketing from single-product acquisition into an AI-powered system for multi-product engagement, reactivation and retention. | Rolling out | Generative & agentic AI |
| AI-assisted treasury and FX[5] | Oppenheimer said optimisation of treasury operations aided by AI models and stablecoins had driven continuous improvements in FX cost. | In production | Trading & capital markets |
| Company-wide agentic AI and headcount plan[4][3] | AI usage tracked to the individual; more than 250 roles removed and 50 redeployed in early 2026; headcount held below plan while revenue grows. | In production | AI governance (general) |
Use-case links open the tracker's rules-by-use-case matrix: which documents govern each system type.
What has Remitly disclosed in numbers?
| Metric | Value | As of |
|---|---|---|
| AI support assistant | issues resolved 4x faster; support time down 75%; 3% of customers choose a human; first-contact resolution over 74%[6] | Nov 22, 2024 |
| Transactions completed without a support contact | more than 95% (2024); over 92% disbursed in under an hour[8] | Dec 31, 2024 |
| Q4 2025 transaction losses | record low 7.3 basis points of send volume; about $10 million incremental RLTE from the upgraded AI fraud model[5] | Dec 31, 2025 |
| AI-enabled headcount reductions | more than 250 roles cut and over 50 redeployed, year to date[4] | May 6, 2026 |
| Q2 2026 results | 10.2 million active customers (+20%); send volume $23.5 billion (+27%); revenue $495.2 million (+20%); adjusted EBITDA $114.7 million (+79%)[2] | Jun 30, 2026 |
| Technology and development expense | 11.2% of revenue, improved 175 basis points year over year[3] | Jun 30, 2026 |
| Employees | over 3,200 full-time equivalents; about 110 Israeli roles cut in February 2026[1][11] | Dec 31, 2025 |
| Remitly Business users | more than 25,000[3] | Jun 30, 2026 |
“For example, a recently upgraded fraud model leveraging AI and integrated data across our platform helped drive record low transaction losses as a percentage of send volume, and lower sideline rates in Q4, contributing roughly $10,000,000 of incremental RLTE dollars versus our forecast.”[5]
Matt Oppenheimer · Co-Founder and then CEO · Feb 18, 2026
“That is a deliberate choice grounded in our confidence that AI can allow us to do the same work—and in most cases, more work—with a leaner organization.”[4]
Sebastian Gunningham · Chief Executive Officer · May 6, 2026
“AI driven productivity has allowed us to hold headcount below plan, as I reoriented the company towards speed and tested our growth bets.”[3]
Sebastian Gunningham · Chief Executive Officer · Aug 5, 2026
“Cost remains the clearest AI win so far.”[3]
Sebastian Gunningham · Chief Executive Officer · Aug 5, 2026
Who runs AI at Remitly?
Which regulators govern Remitly's AI?
| Authority | Why it matters here | Documents |
|---|---|---|
| FinCEN | Remitly is registered with FinCEN as a money services business under the Bank Secrecy Act and must run a risk-based AML programme; its ML fraud scoring and electronic KYC are the systems that meet those obligations, and FinCEN's deepfake alert addresses the AI-enabled fraud those models face. | FIN-2024-Alert004 (Deepfake Media) |
| State money-transmitter regulators | Remitly holds money-transmitter licences in the 49 US states that require them plus DC and US territories, which restrict investment of customer funds and require state examinations. | |
| CFPB | The CFPB enforces Regulation E's Remittance Transfer Rule (disclosures, error resolution, cancellation rights) that governs every Remitly transfer from the US; its guidance on chatbots in consumer finance applies to the AI support assistant that only 3% of customers escalate past. | CFPB Chatbots in Consumer Finance (issue spotlight, 2023) |
| UK (BoE / PRA / FCA) | Remitly holds an FCA payment institution licence (e-money licence pending for wallet services) and is bound by the Consumer Duty; the FCA's AI update sets expectations for firms using AI in customer support and fraud decisions. | FCA AI Update (Apr 2024) FCA PS22/9 Consumer Duty |
| Central Bank of Ireland | Remitly's Irish payment institution licence passports its services across the EEA and subjects it to the revised Consumer Protection Code; wallet services await an extension of that licence. | |
| SEC | As a NASDAQ-listed company reporting AI-driven headcount reductions, fraud-model gains and AI productivity on its calls and in its 10-K, Remitly's AI claims fall under the SEC's AI-disclosure recommendations and examination focus. | Investor Advisory Committee AI disclosure recommendation |
Linked authorities have a page in the AI Regulation Tracker; the others are named for completeness and not yet tracked.
What does the public record suggest about Remitly's AI strategy?
Analysis by BankingNewsAI from the sources cited on this page. Observations, not advice.
01
The AI story is a margin story with headcount numbers attached
Remitly discloses what most fintechs leave implicit: more than 250 roles removed, 50 redeployed, headcount held below plan and technology expense down to 11.2% of revenue, while revenue grew 20%. The CEO calls cost 'the clearest AI win so far'.
02
Fraud is where AI produced a hard dollar figure
The upgraded fraud model is credited with a specific outcome, record-low losses of 7.3 basis points and about $10 million of incremental RLTE in one quarter, which makes it one of the few AI claims in the sector tied to a reported line item.
03
Support automation is measured by who escapes it
Remitly's chosen metrics are the 3% of customers who ask for a human and the 95%-plus of transactions that never generate a contact; both are deflection measures, so satisfaction parity is the claim to watch.
04
Leadership changed, the AI thesis intensified
Oppenheimer's AI programme was fraud and workflows; Gunningham, with an Amazon platform background, reorganised around smaller teams and 'AI embedded everywhere' within 90 days and closed a development hub the same month he arrived.
05
Product expansion raises the regulatory surface AI must cover
Remitly One adds credit (Flex, a planned US line of credit) and wallets with USDC to a money-transmission business; those bring ECOA, e-money and crypto rules on top of the Remittance Transfer Rule the current AI systems were built for.
How does Remitly use AI in customer support?
Remitly launched an AI-powered help centre and a virtual support assistant in 2024 that can cancel or amend transfers, track status and resolve common issues. Remitly says the assistant resolves issues four times faster, cuts average time spent with support by 75% and matches human agents on customer satisfaction across phone and chat; only 3% of customers choose to speak to a person and first-contact resolution is above 74%. More than 95% of 2024 transactions completed without any support contact.
Did Remitly cut jobs because of AI?
Yes, by its own account. On the May 2026 earnings call CEO Sebastian Gunningham reported more than 250 headcount reductions and over 50 roles redeployed year to date through AI-enabled organisational streamlining, calling it 'a deliberate choice' based on confidence that AI lets a leaner organisation do the same or more work. Separately, Remitly closed its Israeli R&D hub in February 2026, cutting about 110 jobs. It had over 3,200 full-time equivalents at the end of 2025.
How does Remitly use AI to fight fraud?
Remitly has used machine learning against fraud since 2017; its models evaluate tens of thousands of transactions an hour to spot identity theft and card fraud while reducing interventions on legitimate customers. A platform-wide fraud model upgraded with AI and integrated data in late 2025 drove Q4 2025 transaction losses to a record low of 7.3 basis points of send volume and roughly $10 million of incremental revenue less transaction expense versus forecast.
Is Remitly a bank?
No. Remitly is a NASDAQ-listed money transmitter: registered with FinCEN as a money services business, licensed in the 49 US states that require it plus DC and US territories, and licensed as a payment institution by the UK FCA and the Central Bank of Ireland (for the EEA). Remitly One, launched in September 2025, adds a wallet, a 'send now, pay later' product and a planned US line of credit, but Remitly holds no bank charter.
Who regulates Remitly?
In the US, FinCEN (AML programme as a money services business), state money-transmitter regulators and the CFPB, which enforces the Remittance Transfer Rule on disclosures and error resolution; in the UK the FCA, including the Consumer Duty; in Ireland and the EEA the Central Bank of Ireland; and as a listed company the SEC. Its AI support assistant and fraud models operate inside those regimes.
Who is Remitly's CEO and what is the AI plan?
Sebastian Gunningham, a former Amazon senior vice president and S-Team member, became CEO on February 19, 2026, succeeding co-founder Matt Oppenheimer, who is now chairman. Gunningham's plan organises AI benefits as speed, trust and cost: smaller autonomous teams, AI embedded across operations, support and product development, real-time AI pricing across 5,000-plus corridors, and headcount held below plan while revenue grew 20% to $495.2 million in Q2 2026.
How big is Remitly in 2026?
In Q2 2026 Remitly passed 10 million quarterly active customers for the first time (10.2 million, up 20%), moved $23.5 billion in send volume (up 27%), earned $495.2 million of revenue (up 20%) and $114.7 million of adjusted EBITDA (up 79%), and reported net income of $205.9 million including a $140.6 million tax benefit. It serves more than 175 countries and Remitly Business has over 25,000 users.
- Remitly Global, Inc. Annual Report on Form 10-K for the fiscal year ended December 31, 2025
- Remitly Reports Record Second Quarter Results and Raises Full Year 2026 Outlook
- Remitly (RELY) Q2 2026 Earnings Call Transcript
- Remitly (RELY) Q1 2026 Earnings Call Transcript
- Remitly (RELY) Q4 2025 Earnings Call Transcript
- Remitly's AI-Powered Support Slashes Response Times by 75%
- How Remitly Is Tackling Fraud and Reducing Interventions with Machine Learning
- CEO Matt Oppenheimer's 2024 Letter to Shareholders
- Remitly Announces Remitly One, A New All-in-One Financial Membership for Global Life
- Remitly Appoints Sebastian J. Gunningham as Chief Executive Officer
- Remitly cuts 110 jobs in Israel
Neobank
BNPL & lending
Payments
Card network
Brokerage
Business finance & infrastructure
When Remitly moves on AI, you'll read it here first.
when a bank, fintech or regulator moves on AI, it is in the next morning's brief · six sourced stories · 7 am ET · free
plus every tracker, bank and agent page update, the morning after · leave any morning