Apollo Raises Specter of an AI Agentic 'Bank Run' Hitting Financial Industry

As if things couldn’t get worse for banks, artificial intelligence could present a problem for the group.

Apollo Raises Specter of an AI Agentic 'Bank Run' Hitting Financial Industry

TL;DR

  • The Invesco KBW Bank ETF (KBWB) has seen its longest losing streak since March.
  • Goldman Sachs and Bank of America are among the worst performers in the fund this month.
  • Rising U.S. Treasury yields are a key factor affecting banks.
  • AI agents could lead consumers to move cash to higher-yielding fintech accounts.
  • Deposits on platforms like SoFi Technologies offer significantly higher APYs than the national average for checking accounts.