The bank permits authorized data sharing but bars agent-led payments and transfers as it pilots its own Smart Cash tool.
JPMorgan Chase blocks external AI agents from operating retail customer accounts, CEO Jamie Dimon said Tuesday, citing risks to customers and the bank, CNBC reported.
On the third-quarter earnings call, Dimon warned that rogue agents could operate at scale. A bank spokesperson confirmed that third parties cannot obtain customers’ banking credentials and log in to act on their behalf.
The bank supports secure, customer-authorized sharing through open banking providers. Outside agents can obtain some information, such as balances, through authorized connectors, but cannot transfer money or pay bills, CNBC reported.
The spokesperson gave no timeline for safeguards that would permit agents to interact directly with accounts.
JPMorgan is using agents internally and developing customer-facing applications. CFO Jeremy Barnum said the bank recently began a targeted pilot of Smart Cash, a tool intended to forecast cash flow and move funds to improve yield.
Dimon said customers authorizing external agents should understand both the risks and the potential transfer of responsibility.
The restrictions come as technology companies introduce personal agents that can perform tasks for users. CNBC reported that Meta’s Muse launch in September prompted concerns that agents could move deposits from low-yielding bank accounts.
