Torsten Slok, Chief Economist at Apollo Global Management, warns that agentic AI could automate the movement of customer deposits from traditional banks to higher-yield fintech platforms. This shift threatens the net interest margins that banks rely on by forcing them to increase deposit rates.
Data from Harvard Business School indicates that approximately 58% of a typical bank's deposit franchise value is derived from inactive accounts. Reuters Breakingviews estimates that if banks were required to raise rates on $3,8 trillion in savings to 4%, the industry could face $79 billion in additional annual interest expenses.
Meta launched its AI agent, Muse, on September 8, 2026. The tool connects to over 12,000 financial institutions via the Plaid network to analyze user financial data. While Muse currently only observes data, the potential for future AI agents to execute automated transfers poses an operational risk to banking stability.
Market reaction to these concerns was evident in late September, as shares of major lenders like JPMorgan and Wells Fargo declined by more than 3%. While regulatory and technical barriers currently prevent mass deposit flight, the industry faces pressure to adjust interest rates to retain customer capital.
