The economics that made free checking viable for decades have changed. Institutions still betting on the old model are protecting a product instead of a relationship.

Experts say Mythos is just one of several threats, but financial institutions should ramp up precautions and planning in response to Anthropic’s new artificial intelligence (AI) tool.

Generative artificial intelligence tools could reinvent how customers interact with their financial institutions, potentially becoming their primary access point.

Bankers at the Bank C-Suite Summit said they know AI tools are important, but some are finding it difficult to identify the best ways to deploy them.