Torsten Sløk, Chief Economist at Apollo Global Management, published a note on September 27 titled « Is an Agentic Bank Run Coming? » warning that AI agents could move trillions of dollars in cheap deposits from traditional banks to fintech platforms. The gap between traditional checking accounts averaging 0.1% (FDIC national average) and fintech platforms offering up to 5% (Adelfi), 4.5% (SoFi), or 4.2% (LendingClub) is substantial: $10,000 earns roughly $10 per year at a traditional bank versus $500 at Adelfi. Unlike classic bank runs driven by panic, what he calls an « agentic bank run » would be driven by automatic and instantaneous optimization without human intervention. The Bank of England has similarly raised concerns about AI herding behavior in financial markets.
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