Citi and JPMorgan Implement Restrictions on AI Agents Accessing Customer Accounts

Citi and JPMorgan Chase are taking significant steps to restrict AI agents from accessing customer accounts, reflecting growing concerns about security and the management of autonomous technology in banking.

According to the Financial Times, Citi's CEO Jane Fraser outlined the bank's approach at the Sibos 2026 conference in Miami. She emphasized the need for rigorous identity verification and authentication for autonomous AI agents before they can execute any transactions. This policy applies to both customer-initiated and bank-initiated actions. Fraser highlighted the bank's internal platform, ARC, which is mandatory for overseeing AI agents, stating, “You cannot create an agent without going through ARC.” Since its introduction in 2026, ARC has been central to Citi's strategy of gradually implementing governed AI systems with a focus on compliance and oversight.

In contrast, JPMorgan Chase's CEO Jamie Dimon announced a total ban on external AI agents accessing customer accounts during the bank's third-quarter earnings call. Dimon cited security risks associated with “rogue agents” as the primary reason for this decision. He stated, “We’re not going to allow just any outside agent to come in inside the company because that’s just too risky for clients and for JPMorgan.” This firm stance underscores the bank's commitment to safeguarding customer data and maintaining control over financial transactions.

The divergence in approaches between the two banks highlights the challenges faced by companies developing AI tools for personal finance. As the largest banks restrict access to customer accounts, the potential market for agentic AI tools diminishes. While Citi focuses on internal governance, JPMorgan's outright ban on external agents raises questions about the future of AI in personal finance management.

Despite these restrictions, some firms are still exploring AI integration. For instance, Germany’s Scalable Capital has allowed AI assistants like ChatGPT to analyze portfolios, although users must approve each trade. Meanwhile, Meta's Muse has faced pushback from retailers, with Amazon blocking its use on their site due to policy violations.