Royal Bank of Canada (RBC) is blocking third-party artificial intelligence (AI) agents such as Meta Platform Inc’s Muse from accessing its banking systems, citing "unacceptable customer risk.”
Canada’s largest bank sent a message to all employees on Oct 28 informing them of the policy change, noting it came after a "full security review of the technology and its functionality,” and that it follows the company’s guidelines on responsible use of AI, according to a memo seen by Bloomberg.
The note was sent by Naim Kazmi, group head of technology and operations, and Erica Nielsen, group head of personal banking. Jeff Lanthier, a representative for RBC, confirmed its contents.
"After careful consideration and based on what we know today, RBC has made the decision to block third-party personal AI agents from direct access to authenticated RBC digital properties,” Kazmi and Nielsen said, adding that they know that such agents "accessing banking systems can create unacceptable customer risk, including acting beyond customer expectations or creating liability exposure.”
Lanthier said the bank recognises this may disappoint the "small portion of our clients who use these tools,” but added the decision was taken based on the "safety and security of our clients and systems.”
Several US banks have blocked or restricted unauthorised outside AI agents from accessing customer accounts or moving money. Earlier this month, Charles Schwab Corp chief executive officer Rick Wurster said his company is actively blocking unauthorised AI agents attempting to move clients’ money.
In an interview with Bloomberg Television last week, RBC CEO Dave McKay said the lender was considering blocking Muse from accessing customer information. – Bloomberg
