Technology
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Apollo economist warns AI agents could trigger new bank runs
Image: Crypto BriefingApollo Global Management chief economist Torsten Sløk published a September 27 note warning AI agents could trigger an 'agentic bank run'. US checking accounts average 0.1% annual interest, while fintech platforms offer 3.3% to 5% yields. AI tools like Meta's Muse could automate sweeping cash from low-yield bank accounts to higher-yield fintech options at scale. Plaid connects over 12,000 US financial institutions to these tools.
Key points
- US checking accounts average 0.1% annual interest, while fintech platforms offer 3.3% to 5% yields.
- AI tools like Meta's Muse could automate sweeping cash from low-yield bank accounts to higher-yield fintech options at scale.
Why it matters
If widespread, the shift could reduce the cheap deposits banks rely on to fund loans, potentially pressuring bank lending margins and broader financial system stability.
What's unclear
Sløk's note provides no estimate of the total value of deposits that could shift or the timeline for such a shift.
The reports do not clarify whether full cross-account cash sweep functionality is currently available to mass market AI agent users.
Sources · 2 publishers
Crypto Briefing
Tier 2
Apollo chief economist warns AI agents could trigger bank runs
Coverage timeline
- First reported by BeInCrypto
- Confirmed by Crypto Briefing
- CryptoVideos brief published
How this brief was made. Our system found this event in 2 independent publications, summarised two complete reports with AI and checked every number above against the source text. Sources are linked in full. Not financial advice. Report an error
