AI Automates 0.1% Deposit Transfers, Warning of Massive Deposit Exodus from Traditional Banks

As agent-based artificial intelligence (AI) assistants emerge to compare interest rates and automatically transfer funds to high-yield accounts, warnings have been issued that traditional banks may face significant risks of large-scale deposit exodus. On the 28th, Torsten Slok, chief economist at Apollo Global Management, stated in a report that AI assistants could trigger a massive concentration and outflow of existing deposits by automatically transferring household cash to accounts with higher yields. Currently, the average interest rate for regular savings accounts at U.S. commercial banks is only 0.1%, while fintech companies offer high-interest yields ranging from 3.3% to 5.0%. Slok warned that if all households utilize AI agents, traditional banks could lose a substantial amount of low-cost deposits. If AI agents emerge as key players in finance, the spread of infrastructure supporting autonomous payments is also expected to accelerate. The number of transactions through the x402 protocol reached approximately 75 million in September, with a transaction volume of $24 million. However, there are also concerns that it will take time for autonomous trading driven by AI to become fully established.

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