JPMorgan Chase bans external AI agents from acting on behalf of clients — CNBC

US bank JPMorgan Chase will not allow external artificial intelligence-based agents to directly access clients’ accounts and act on their behalf. The bank’s CEO Jamie Dimon explained this by citing risks both to clients and to the financial institution itself, CNBC reports.

During the third-quarter earnings call, Dimon said that the bank would not allow any third-party agents into its systems. According to him, the risk comes from autonomous programs that can operate at scale: there could be thousands of such uncontrolled agents.

Which actions have been restricted

A JPMorgan Chase spokesperson confirmed that the bank is already blocking external AI agents from carrying out transactions on behalf of retail clients. The bank does not allow third parties to access accounts by using clients’ banking credentials and logging in on their behalf.

More current news is available on the UA.News Telegram channel Telegram.

At the same time, agents can access some Chase account data in read-only mode — for example, balance information — if the user provided credentials through Plaid or another intermediary. However, such services cannot transfer funds or pay bills. The bank did not specify a timeline for introducing safeguards that would allow agents to interact directly with accounts.

The bank’s own tool

Dimon noted that JPMorgan Chase uses AI agents internally and plans to deploy them in customer products. According to him, the bank’s approach is not to oppose the technology but to use it safely for clients.

Chief Financial Officer Jeremy Barnum said that the bank has begun targeted testing of its own Smart Cash tool. It is intended to forecast a user’s cash flows and move funds to maximize returns. Dimon also stressed that clients who allow external agents to act on their behalf must understand the risks and the possible transfer of liability.