CNBC reported that JPMorgan Chase CEO Jamie Dimon said on 13 October that the bank would not let outside AI agents operate on customer accounts. Speaking on the bank’s third-quarter earnings call, Dimon said allowing outside agents into the bank was “too risky for clients and for JPMorgan”.
A JPMorgan spokeswoman said the bank currently blocks external agents from acting on behalf of retail customers. Third parties cannot obtain customers’ banking credentials and log in for them. Agents can access some Chase account data, including balances, through connectors such as Plaid on a read-only basis, but cannot send money or pay bills. The spokeswoman said the bank has no timeline for safeguards that would permit agents to interact directly with accounts.
Dimon said customers who use outside agents should understand that “there’s a liability transfer”. JPMorgan is also piloting Smart Cash, its own tool intended to forecast cash flow and move funds to maximise yield, Chief Financial Officer Jeremy Barnum said on the call.
