PYMNTS reports Paymentus views AI as a force multiplier for incumbents that own valuable payments and banking data.

AI's rapid advancement is raising risks of large-scale attacks on financial infrastructure and targeted fraud that can drain individual bank accounts.

Treasury Secretary Bessent and Fed Chair Powell summoned bank CEOs to discuss testing Anthropic's Claude Mythos, as US officials explore AI model deployment in the financial sector.

US Treasury Secretary Scott Bessent and Fed Chair Jerome Powell held an urgent meeting with Wall Street bank CEOs to warn of cybersecurity risks posed by Anthropic's Mythos AI model.

JPMorgan Chase is now treating its artificial intelligence investments as core infrastructure, signaling a strategic shift to operationalize AI at scale. The bank is focusing its capital on boosting internal productivity, strengthening cybersecurity, and personalizing retail banking services.