Just as Big Tech is rolling out agents meant to help with your finances, banks are drawing a line at AI agents accessing your account information. On Tuesday, JPMorgan Chase CEO Jamie Dimon said the bank is blocking outside AI agents from logging in to or acting on customer accounts, citing security risks from “rogue agents.”
“We’re not going to allow just any outside agent to come inside the company, because that’s just too risky for clients and for JPMorgan,” Dimon said during the bank’s third-quarter earnings call. “You don’t want rogue agents.”
He warned that AI tools create new risks for banks and their customers, particularly when more people turn to these agents capable of performing tasks on their behalf.
“Protecting our customers is our top priority,” a JPMorgan spokesperson told Fortune. “When we detect a third-party agent attempting to access accounts by obtaining customers’ banking credentials, we do not allow it. We support secure, customer-authorized data sharing through open banking providers.”
Rogue AI shaping security concerns
The bank’s concerns come in the wake of several security incidents involving “rogue” AI agents. Dimon’s remarks keep JPMorgan’s massive balance sheet in mind.
According to its third-quarter earnings release filed with the SEC, the bank reported $15.3 billion in net income—with $1.6 trillion in average loans and $1.5 trillion in cash and marketable securities. It had $5.1 trillion in total assets as of Sept. 30.
“We have to make sure we protect our customer in the right kind of way,” Dimon said. “So we’re building tools to do that, too.”
A Cloud Security Alliance research note last month found that the risks of AI agents extend beyond controlled testing. The note summarized a cybercrime campaign in which three open-source AI agents allegedly worked together to breach at least 27 organizations and take more than 600,000 credit card records from two of them.
“Enterprises should incorporate agentic AI attack scenarios into their threat models for retail and payment infrastructure specifically,” the note read, “rather than treating agentic AI risk as a generic or future-facing concern, given that this campaign demonstrates the capability is already commoditized and in active use against the retail sector.”
But AI agents managing user finances isn’t new. In August, the German bank Scalable Capital opened its platform to AI models like ChatGPT, Claude, and Grok, letting users analyze portfolios, set up savings plans, and place trades through prompts. Users had to approve trades, and the assistants couldn’t make payments or withdraw money.
“It certainly creates a level playing field,” Scalable Capital’s chief product officer, Alexander Seipp, previously told Fortune about the use of AI on its investment platform. “Access to information and to compute and to intelligence is now available—really—literally in your pocket, 24/7.”
Muse’s finance features
JPMorgan’s move complicates the market strategy for AI agents meant to help with personal finances. Meta launched Muse in September, pitching it as an agent that can perform tasks like sending emails, booking travel, and logging calendars.
But its financial capabilities were a focal point of the rollout. Through an integration with financial technology company Plaid, Muse users can connect financial accounts to receive personalized guidance on balances, transactions, and investment holdings.
“Through the Finances experience in Muse, people can securely connect financial accounts through Plaid to share balances, transactions, investment holdings, mortgage information and more,” a Plaid press release read. “The goal is to make financial management feel less like navigating a series of disconnected apps and more like a natural conversation that begins with a person’s priorities and is informed by the financial information they choose to share.”
Meta declined to comment on whether Muse could still offer financial assistance if more banks move further to prevent AI agents from consumer accounts. The company instead told Fortune it is developing “Poppy,” a personal agent protocol standard meant to make clear to companies when a personal AI agent is acting for a customer. Meta is building it with Sierra, an AI customer service company.
“Personal Agent Protocol is complementary,” a Sierra press release read, “covering how a personal agent identifies itself, gets the customer’s permission, and works with a company across any kind of task—from buying a sweater to applying for a mortgage.”