JPMorgan blocks external AI agents like Meta's Muse and Instinct from client accounts
JPMorgan CEO Jamie Dimon said on the bank's third-quarter earnings call that it will not let outside AI agents enter the company and act on behalf of clients, calling that "just too risky for clients and for JPMorgan" and warning that "you don't want runaway agents, and there could be thousands." A bank spokesperson confirmed JPMorgan currently bars external agents from acting for retail customers: third-party connectors such as Plaid may give agents read-only access to some data like balances with customer authorization, but not transfers or bill payments, and no timeline exists for safeguards enabling agentic connections. Dimon also flagged a "liability shift" for customers who use such agents, while the bank uses AI agents internally and CFO Jeremy Barnum said it began a targeted pilot of its own SmartCash tool in recent weeks to forecast cash flow and move money to maximize returns. The report notes Instinct, an SMS-based concierge from San Francisco startup Spear Street Technology, and that Meta's Muse agent topped app download charts in September, pressuring bank stocks, with OpenAI launching its Dots agent weeks later.
The largest US bank is publicly drawing the line on what autonomous agents may do with accounts, a stance other financial institutions may follow on agent access, customer consent and liability.