PNC CEO: Financial transactions conducted solely by agents “will never happen”

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PNC Chairman and CEO Bill Demchak said banks will not allow agents to operate customer accounts without human intervention, and that purely agent-driven financial transactions “will never happen.” He warned that agent transactions could lead to fraud and affect users’ lives, and that banks should add rather than reduce friction in transactions. JPMorgan Chase, Citi and several other large banks are blocking AI agents from accessing customer accounts.