AI & Finance News — 2026-10-09 (Fri)

Overview

Wariness against AI attacks and the penetration of AI agents into financial practices have simultaneously progressed. CrowdStrike has pointed out that Chinese AI tools were used in attacks targeting South Korean banks (The New York Times), and the Financial Services Agency is reportedly planning to have a record 181 financial institutions participate in cyber defense exercises based on AI attacks (Yahoo! News). Meanwhile, it was also reported that AI agents are moving deposits (PYMNTS.com).

Bank trends

There was a report that an AI agent was moving a “dormant” deposit of $1.6 Trillion (PYMNTS.com). Although major banks are leading the AI race, it has been pointed out that it is difficult to see any returns in terms of profits (CU Today). Alkami and Bank Director discussed how to move AI from ideation to disciplined execution (PR Newswire). Goldman Sachs praised Palantir for its unique strengths in the AI boom (Barron's). Ogaki Kyoritsu Bank has built an unstructured data management platform for the use of AI (ZDNET Japan).

Insurance trends

AI-related debt is flowing into assets that are difficult for insurance regulators to track (Forbes). The question is whether AI shopping agents will impact personal insurance and spill over into commercial insurance for small businesses (Insurance Business). EverQuote releases white paper on personal AI agents and the future of property/casualty insurance sales (Quiver Quantitative), and Damco expands AI capabilities for property/casualty insurance (Yahoo Finance). In the UAE, Shory has launched an AI agency for car insurance (Beinsure).

Trends in asset management and market transactions

HSBC cuts wealth management jobs as AI increases customer-facing roles (Computer Weekly) Balyasny Asset Management has introduced Google Gemini to its research AI platform (The TRADE). Sequoia-backed Catalyst has raised $30 million to develop an AI buying and selling agent for retail investors (Fortune). Wall Street expects sustained demand for AI semiconductors amid Meta buzz (Los Angeles Times). There are reports that Oracle stock is lagging behind other AI stocks (Investor's Business Daily).

Fintech/payment trends

Mastercard discussed the issue of identity verification in agent-based transactions: "Who is behind the AI agent?" (Mastercard). Amex provides advice to companies on the use of AI (Payments Dive). BNP Paribas and BNY are reimagining banking with AI with help from Google (FinTech Magazine). FCA's David Geale spoke about crypto asset regulation, agent AI responsibilities and open finance (FinTech Futures).

Remarks from key figures and authorities in the financial world

JPMorgan Chase CEO Jamie Dimon was reported to have said that Anthropic's Mythos model increased cybersecurity risks tenfold (Tekedia). The other targets being tracked (Larry Fink, Jane Fraser, David Solomon, Brian Moynihan, Ted Pick, Ken Griffin, Paul Atkins) have no headline statements or actions. Goldman Sachs also expressed the view that AI will enable newly hired financial professionals to take on managerial roles from day one (The Times of India). However, this is the company's opinion, and it cannot be confirmed from the headline that it is David Solomon's personal statement.

Trends in AI-related stocks and funding

Manus raises $500 million after acquisition by Meta is blocked by China (Tech Xplore). Cal AI's 19-year-old founder has raised $10 Million for his new AI startup (TechCrunch). NeoCloud's IPO of $4 bln was volatile and reportedly sparked AI bubble fears (Breakingviews). As the U.S. midterm elections approach, some say that popular AI-related stocks and defensive stocks are most at risk (Bloomberg.com). Investment in OpenAI boosts Tiger Global's hedge fund performance (Bloomberg Television). Charles Clough said AI is different compared to the dot-com bubble and said we should focus on hyperscalers (CNBC Television).

Trends in financial regulation and supervision

The Financial Services Agency will implement AI management guidelines for financial institutions in October 2027 (NNA ASIA). At the same time, a cyber defense exercise based on AI attacks has begun, with a record 181 financial institutions, including banks and securities companies, scheduled to participate (Yahoo! News). The FCA has raised the issue of agent AI liability (FinTech Futures). UK Finance discussed how AI threatens the three elements of compliance: clarity, transparency and security (UK Finance). Sri Lanka's SEC has urged citizens not to invest in Quantum AI Limited (Adaderana Biz English).

Integrated analysis: What is happening now

Funds flow in two directions. One is the change in customer touch points, where AI agents begin to drive deposits ($1.6 Trillion) and insurance comparisons and purchases.The other is the provision of funds for AI investments, such as neocloud IPO and Manus procurement, and the inflow of AI debt into insurance assets (PYMNTS.com, Insurance Business, Forbes, Breakingviews, Tech Xplore). There are three sources of risk. First, on the cyber front, the Dimon warning, CrowdStrike report, and Financial Services Agency exercise point in the same direction. Second, the points of contention between Mastercard and FCA overlap regarding identity verification and responsibility for agent transactions. Third, AI debt enters into insurance assets, making it difficult for regulators to grasp. In Japan, the framework for regulations is being put in place with management guidelines and exercises that will come into effect in October 2027, and in the UK, it is expected that the theory of responsibility will be sorted out. In terms of personnel, there are indications that HSBC is cutting jobs and that the financial career ladder is collapsing, and changes in the workforce composition due to AI may be a reality.

Future points of interest

- Establishment of rules for identity verification and responsibility sharing in the event that deposit transfers and insurance purchases by agents become widespread (Mastercard, FCA). - Moves by regulators to understand and disclose the inflow of AI debt into insurance assets (Forbes). - Results of the Financial Services Agency's exercise and the specific content of the AI management guidelines scheduled to come into effect in October 2027 (Yahoo! News, NNA ASIA).