Team8

At Money20/20 last week, the same question came up in almost every conversation with banks, fintechs, and payment networks: should an AI agent be allowed to read or write on a bank account? The answer from nearly everyone is no. A couple of major banks have already said publicly they’re blocking external agents and nearly 80 percent of banks have already detected malicious agents probing their systems. Underneath that caution is a question nobody has actually answered: when an agent does make a mistake, who eats the loss? Two major payment networks are reportedly taking opposite positions: one treating the agent as a direct proxy for the human, the other pushing to define separate liability for whoever built it, and at least one major payments company told me they’re already absorbing some of this risk quietly just to keep agent commerce moving. Until identity and liability are both resolved, “Know Your Agent” infrastructure is really just unpriced risk sitting on someone’s balance sheet. My takeaway going forward is that the winners in agentic banking won’t be whoever ships the flashiest agent. They’ll be whoever builds the necessary trust and liability layer.

I feel like I’ve seen this movie before. First came JPMorganChasen, and now comes Citi. Instead of claiming to protect customers by blocking innovation, banks should be busy finding the right way to give their customers’ AI agents access. And let’s be honest, this is also about $1.6tn in deposits that don’t pay interest. Now, I’m not saying open the floodgates and let agents do whatever they want. Banks have a real responsibility to check intent, verify identity, and have answers and solutions on liability and audibility. But I’m not seeing enough of that conversation. Let’s not use this as an excuse to stop innovation. We all know how the movie ends. https://lnkd.in/euMrBRSr

If you know me at all, you know I'm not a big fan of #Vegas . And yet, comes October, I'm pumped to head there for #Money2020, to meet old and new #fintech friends. DM if you are around for coffee, drinks or a cupcake (after all I will be celebrating my 20th birthday on Oct 19th)

Heading to Money20/20 in Vegas next month I spend my days with leaders in financial services, and the questions keeping them up at night have shifted fast: agentic AI moving from pilot to production, fraud that scales faster than defenses, and modernizing core infrastructure without breaking what works. I'd love to compare notes with anyone thinking about these problems, whether you're at a bank, building in fintech, or somewhere in between. If you'll be there, send me a message and let's grab a coffee.

I’m joining Team8's Infra Village Tour this November for a series of intimate gatherings bringing together CIOs, CTOs, and AI and infrastructure leaders across Palo Alto, Boston, and New York. What’s on the agenda? We’ll get into what’s shifting across the enterprise stack, where infrastructure is headed, and what it takes to build for AI’s next wave. Expect sharp programming, candid conversations, and time to connect with fellow leaders, then we’ll take it offline over cocktails. Infra leaders, apply to be part of the Tour- https://lnkd.in/gtXZ2xPE

I’m joining Team8’s Infra Village Tour this November for a series of intimate gatherings bringing together #CIOs, #CTOs, and #AI and infrastructure leaders across Palo Alto, Boston, and New York. This will be exactly the curated room you want to be in! What’s on the agenda? We’ll get into what’s shifting across the enterprise stack, where infrastructure is headed, and what it takes to build for AI’s next wave. Expect sharp programming, candid conversations, and time to connect with fellow leaders, then we’ll take it offline over cocktails. Infra leaders, apply to be part of the Tour, link in the first comment.