# BNY (Bank of New York Mellon) vs peers: AI and technology compared

Source: https://www.bankingnewsai.com/banks/bny-mellon/vs-peers
Last updated: Oct 20, 2026

*Part of the [BNY (Bank of New York Mellon) AI strategy profile](https://www.bankingnewsai.com/banks/bny-mellon). Peer group: State Street, Northern Trust, JPMorgan Chase, Citigroup, The Charles Schwab Corporation, Goldman Sachs, Morgan Stanley, Bank of America.*

## How does BNY (Bank of New York Mellon) compare with its peers on AI and technology?

BNY scores 89.8 on this site's US AI disclosure index (#5 of 120), third of the nine banks in its custody-and-wealth peer group behind Bank of America (97.3) and Citigroup (94.9) and level with JPMorgan Chase (89). Against its direct custody rivals the gap is wide: Northern Trust scores 79.7 and State Street 75.4. Three things separate BNY from named peers. First, it counts its AI in production and publishes the count: about 220 AI solutions and about 140 'digital employees' in its first-quarter 2026 deck, more than 300 solutions by October 5, 2026 and '400-plus' on the October 15, 2026 earnings call, while State Street reported more than 200 use cases with 70 live (April 2026) and Northern Trust more than 150 (October 2025). Second, it spends a larger share of revenue on technology: about $3.8 billion in 2025, roughly 19% of revenue, the highest proportion among its peers in CNBC's comparison, against JPMorgan's budget of nearly $20 billion. Third, it runs one model-agnostic platform, Eliza, across OpenAI (a multi-year deal from February 2025), Google's Gemini Enterprise (December 2025) and Anthropic's Claude, and its CEO Robin Vince joined OpenAI's boards in July 2026. Where it trails is outside coverage and cost disclosure: 28 independent sources against 42 each for JPMorgan and Citigroup, and Vince declines to break out AI spend. ([BNY](https://www.bny.com/assets/corporate/documents/pdf/investor-relations/earnings/quarterly-update-presentation-1q-2026.pdf), [BNY](https://www.bny.com/corporate/global/en/insights/ai-fund-operations.html), [Investing.com](https://investing.com/news/transcripts/earnings-call-transcript-bny-mellon-posts-strong-q3-2026-results-stock-slips-93CH-4952348), [American Banker](https://americanbanker.com/news/while-embedding-ai-everywhere-bny-wont-disclose-costs), [Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/state-street-stt-q1-2026-165824761.html), [GuruFocus (Yahoo Finance)](https://finance.yahoo.com/news/northern-trust-corp-ntrs-q3-190424060.html), [CNBC](https://www.cnbc.com/2026/02/09/digital-employees-ai-bootcamps-americas-oldest-bank-spends-billions-on-tech.html), [CNBC](https://www.cnbc.com/2026/06/09/jpmorgan-chase-ai-agents.html), [The Wall Street Journal](https://www.wsj.com/articles/bny-americas-oldest-bank-signs-multiyear-deal-with-openai-74987d1d), [Banking Dive](https://www.bankingdive.com/news/bny-google-cloud-agentic-AI-robin-vince/807390/), [BNY (SEC filing)](https://www.sec.gov/Archives/edgar/data/1390777/000139077726000042/ex993_quarterlyupdatepre.htm), [Bloomberg](https://www.bloomberg.com/news/articles/2026-07-21/openai-names-bny-nubank-ceos-to-board-ahead-of-ipo))

## Where does BNY lead its peers on AI?

- **The largest published count of AI in production among custody banks.** BNY reported 117 AI solutions in production in October 2025, 160 at year-end 2025 with 134 'digital employees', about 220 and 140 in its April 2026 deck, and '400-plus' solutions on the October 15, 2026 call. State Street's CEO cited more than 200 use cases with 70 live in April 2026, and Northern Trust's more than 150 use cases in October 2025. ([American Banker](https://www.americanbanker.com/news/bny-tops-estimates-reports-revenue-upswing), [BNY (SEC filing)](https://www.sec.gov/Archives/edgar/data/1390777/000139077726000004/ex993_quarterlyupdatepre.htm), [BNY](https://www.bny.com/assets/corporate/documents/pdf/investor-relations/earnings/quarterly-update-presentation-1q-2026.pdf), [Investing.com](https://investing.com/news/transcripts/earnings-call-transcript-bny-mellon-posts-strong-q3-2026-results-stock-slips-93CH-4952348), [Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/state-street-stt-q1-2026-165824761.html), [GuruFocus (Yahoo Finance)](https://finance.yahoo.com/news/northern-trust-corp-ntrs-q3-190424060.html))
- **Highest technology spend as a share of revenue.** CNBC put BNY's 2025 technology spend at about $3.8 billion, roughly 19% of revenue and the highest proportion among its big-bank peers (February 2026); the CFO later framed annual engineering spend at about $4 billion. JPMorgan Chase spends more in dollars, nearly $20 billion in 2026, on a far larger revenue base. ([CNBC](https://www.cnbc.com/2026/02/09/digital-employees-ai-bootcamps-americas-oldest-bank-spends-billions-on-tech.html), [Yahoo Finance](https://finance.yahoo.com/technology/ai/articles/bny-sees-cross-selling-ai-210204657.html), [CNBC](https://www.cnbc.com/2026/06/09/jpmorgan-chase-ai-agents.html))
- **Training reach: 99% of staff trained, more than half building agents.** About 20% of BNY staff used Eliza at the start of 2025; 99% had been trained by mid-2025 and more than half now build agents (American Banker, October 2026). Goldman Sachs has given GS AI Assistant to all 46,000 employees and Morgan Stanley reports about 98% of 80,000 with generative-AI access, but neither reports a share of staff building agents. ([American Banker](https://www.americanbanker.com/news/2026-the-most-powerful-women-in-banking-women-to-watch-18-leigh-ann-russell-bny), [BNY](https://www.bny.com/assets/corporate/documents/pdf/investor-relations/earnings/quarterly-update-presentation-1q-2026.pdf), [American Banker](https://www.americanbanker.com/news/goldman-sachs-staff-now-write-a-million-gen-ai-prompts-a-month), [American Banker](https://www.americanbanker.com/news/morgan-stanleys-michael-pizzi-is-27-on-the-most-innovative-people-in-finance-ranking))
- **The closest tie to a frontier-model lab.** Robin Vince was appointed to the boards of the OpenAI Foundation and OpenAI Group PBC in July 2026, on top of BNY's multi-year OpenAI deal for Deep Research and reasoning models (February 2025); BNY was also among the firms given early access to OpenAI's GPT-5.4-Cyber and Anthropic's Mythos models in April 2026. Morgan Stanley's OpenAI partnership dates from March 2023 but has no board link. ([Bloomberg](https://www.bloomberg.com/news/articles/2026-07-21/openai-names-bny-nubank-ceos-to-board-ahead-of-ipo), [CNBC](https://www.cnbc.com/2026/07/21/openai-appoints-two-new-members-to-board-of-directors.html), [The Wall Street Journal](https://www.wsj.com/articles/bny-americas-oldest-bank-signs-multiyear-deal-with-openai-74987d1d), [Axios](https://axios.com/2026/04/16/scoop-bny-openai-gpt-cyber), [Morgan Stanley](https://www.morganstanley.com/press-releases/ai-at-morgan-stanley-debrief-launch))

## Where does BNY trail its peers on AI?

- **Less independent coverage than JPMorgan and Citigroup.** On this site's index BNY has 28 independent sources on its AI against 42 each for JPMorgan Chase and Citigroup and a peer median of 29, fifth of nine; independent coverage carries 45% of the index weight, which is why BNY sits third in the group despite the most granular production counts. ([American Banker](https://www.americanbanker.com/news/2026-the-most-powerful-women-in-banking-women-to-watch-18-leigh-ann-russell-bny), [CNBC](https://www.cnbc.com/2026/02/09/digital-employees-ai-bootcamps-americas-oldest-bank-spends-billions-on-tech.html))
- **No disclosed AI budget, while JPMorgan names a figure.** Vince told analysts on October 15, 2026 that BNY will not break out AI costs because doing so 'could be counterproductive', and the CFO called token costs 'modest within modest'. JPMorgan Chase's CFO put the bank's annual AI spend at closer to $700 million, against an estimated $2 billion of annual AI benefit. ([American Banker](https://americanbanker.com/news/while-embedding-ai-everywhere-bny-wont-disclose-costs), [Fortune](https://fortune.com/2026/07/28/bny-skipped-tokenmaxxing-craze-what-ai-metrics-tracks-cfo/), [Banking Dive](https://www.bankingdive.com/news/jpmorgan-dimon-ai-agents-bank-customers-liability-transfer/832870))
- **Fewer primary disclosures than Northern Trust.** The component table credits BNY with 18 of its own disclosures on AI against 32 for Northern Trust, sixth of nine. Northern Trust's 10-K, proxy and calls describe a dedicated AI Risk Program, board-level AI oversight and named agents for client action plans and cyber horizon-scanning (July 2026). ([BNY (SEC filing)](https://www.sec.gov/Archives/edgar/data/1390777/000139077726000033/bk-20251231_d2.htm), [Northern Trust (SEC filings)](https://www.sec.gov/Archives/edgar/data/73124/000007312426000016/ntrs-20251231.htm), [Northern Trust (SEC filings)](https://www.sec.gov/Archives/edgar/data/73124/000007312426000022/ntrs-20260311.htm), [Yahoo Finance](https://finance.yahoo.com/markets/stocks/articles/northern-trust-ntrs-q2-2026-004614674.html))
- **No client-facing generative assistant to match Schwab's Charley.** BNY's published AI runs mostly inside the bank: digital employees in payments, settlement inquiries, contract review and screening. Schwab unveiled Charley, a generative-AI assistant that completes tasks for retail clients by voice or text, on September 30, 2026, and Morgan Stanley's advisor Assistant has been used by 98% of advisor teams since 2023. ([Microsoft WorkLab](https://www.microsoft.com/en-us/worklab/the-making-of-a-frontier-firm-how-ai-is-redesigning-work-at-bny), [BNY (SEC filing)](https://www.sec.gov/Archives/edgar/data/1390777/000139077726000042/ex993_quarterlyupdatepre.htm), [OpenAI](https://openai.com/index/bny/), [Charles Schwab](https://pressroom.aboutschwab.com/press-releases/press-release/2026/Meet-Charley-Schwabs-New-AI-Powered-Assistant-Designed-to-Help-Clients-Get-Answers-and-Take-Action/default.aspx), [Morgan Stanley](https://www.morganstanley.com/press-releases/ai-at-morgan-stanley-debrief-launch))

## Where does BNY rank against its peers on AI disclosure?

Scores from the US AI disclosure index of 120 banks (0–100; 45% of the weight on independent coverage). The index measures what each bank has put on the public record and what outside outlets have reported about its AI, not capability or spending; every count is of entries on that bank's profile, each of which cites its sources.

| Bank | Score | Rank | Independent sources | Own disclosures | Use cases in production | Moves, last 12 months | Named AI platform |
| --- | --- | --- | --- | --- | --- | --- | --- |
| [Bank of America](https://www.bankingnewsai.com/banks/bank-of-america) | [97.3](https://www.bankingnewsai.com/banks/ai-index) | #1 of 120 | [37](https://www.bankingnewsai.com/banks/bank-of-america#sources) | [24](https://www.bankingnewsai.com/banks/bank-of-america#sources) | [16 of 18](https://www.bankingnewsai.com/banks/bank-of-america#where) | [34](https://www.bankingnewsai.com/banks/bank-of-america#timeline) | Erica (and EricaAssist) ([Bank of America Newsroom](https://newsroom.bankofamerica.com/content/newsroom/press-releases/2025/08/a-decade-of-ai-innovation--bofa-s-virtual-assistant-erica-surpas.html), [Bank of America Newsroom](https://newsroom.bankofamerica.com/content/newsroom/press-releases/2026/07/bank-of-america-enhances-ericaassist-with-generative-ai-to-help-.html), [American Banker](https://www.americanbanker.com/news/how-bank-of-americas-erica-does-the-work-of-11-000-people)) |
| [Citigroup](https://www.bankingnewsai.com/banks/citigroup) | [94.9](https://www.bankingnewsai.com/banks/ai-index) | #2 of 120 | [42](https://www.bankingnewsai.com/banks/citigroup#sources) | [19](https://www.bankingnewsai.com/banks/citigroup#sources) | [15 of 20](https://www.bankingnewsai.com/banks/citigroup#where) | [34](https://www.bankingnewsai.com/banks/citigroup#timeline) | Citi Stylus Workspaces ([The Wall Street Journal](https://www.wsj.com/cio-journal/the-ai-superfans-companies-count-on-to-convert-the-skeptics-5b301a90), [Citigroup](https://www.citigroup.com/rcs/citigpa/storage/public/Earnings/Q12026/2026psqtr1rslt.pdf)) |
| [BNY (Bank of New York Mellon) (this page)](https://www.bankingnewsai.com/banks/bny-mellon) | [89.8](https://www.bankingnewsai.com/banks/ai-index) | #5 of 120 | [29](https://www.bankingnewsai.com/banks/bny-mellon#sources) | [19](https://www.bankingnewsai.com/banks/bny-mellon#sources) | [12 of 14](https://www.bankingnewsai.com/banks/bny-mellon#where) | [31](https://www.bankingnewsai.com/banks/bny-mellon#timeline) | Eliza ([American Banker](https://americanbanker.com/news/while-embedding-ai-everywhere-bny-wont-disclose-costs), [BNY](https://www.bny.com/assets/corporate/documents/pdf/investor-relations/earnings/quarterly-update-presentation-1q-2026.pdf), [BNY](https://www.bny.com/corporate/global/en/insights/unlocking-potential-enterprise-ai-platform-bny.html), [The Wall Street Journal](https://www.wsj.com/articles/bny-americas-oldest-bank-signs-multiyear-deal-with-openai-74987d1d), [Banking Dive](https://www.bankingdive.com/news/bny-google-cloud-agentic-AI-robin-vince/807390/), [American Banker](https://www.americanbanker.com/news/bny-tops-estimates-reports-revenue-upswing)) |
| [JPMorgan Chase](https://www.bankingnewsai.com/banks/jpmorgan-chase) | [89](https://www.bankingnewsai.com/banks/ai-index) | #6 of 120 | [43](https://www.bankingnewsai.com/banks/jpmorgan-chase#sources) | [20](https://www.bankingnewsai.com/banks/jpmorgan-chase#sources) | [8 of 15](https://www.bankingnewsai.com/banks/jpmorgan-chase#where) | [32](https://www.bankingnewsai.com/banks/jpmorgan-chase#timeline) | LLM Suite ([American Banker](https://www.americanbanker.com/news/how-jpmorganchase-democratized-employee-access-to-gen-ai), [American Banker](https://www.americanbanker.com/video/wib-2025/driving-ai-use-cases-and-adoption-aligning-business-value-data-readiness-and-risk-management)) |
| [The Charles Schwab Corporation](https://www.bankingnewsai.com/banks/charles-schwab) | [80.7](https://www.bankingnewsai.com/banks/ai-index) | #19 of 120 | [18](https://www.bankingnewsai.com/banks/charles-schwab#sources) | [14](https://www.bankingnewsai.com/banks/charles-schwab#sources) | [15 of 19](https://www.bankingnewsai.com/banks/charles-schwab#where) | [24](https://www.bankingnewsai.com/banks/charles-schwab#timeline) | Charley, Portfolio Insights, Schwab Knowledge Assistant and Schwab Advisor AI in Action ([Charles Schwab](https://pressroom.aboutschwab.com/press-releases/press-release/2026/Meet-Charley-Schwabs-New-AI-Powered-Assistant-Designed-to-Help-Clients-Get-Answers-and-Take-Action/default.aspx), [Charles Schwab](https://pressroom.aboutschwab.com/press-releases/press-release/2026/Charles-Schwab-Launches-AI-Powered-Capability-That-Helps-Investors-Understand-Portfolio-Performance-and-Market-Activity/default.aspx), [Charles Schwab](https://www.aboutschwab.com/mss/story/ai-on-the-other-end-of-the-line), [Charles Schwab](https://pressroom.aboutschwab.com/press-releases/press-release/2026/Schwab-Study-Reveals-RIA-AI-Adoption-More-Than-Doubles---But-Most-Firms-Still-in-Early-Stages/default.aspx), [Banking Dive](https://bankingdive.com/news/charles-schwab-bank-ceo-paul-woolway-retire-tyler-woulfe/811079)) |
| [Goldman Sachs](https://www.bankingnewsai.com/banks/goldman-sachs) | [79.9](https://www.bankingnewsai.com/banks/ai-index) | #22 of 120 | [39](https://www.bankingnewsai.com/banks/goldman-sachs#sources) | [15](https://www.bankingnewsai.com/banks/goldman-sachs#sources) | [7 of 13](https://www.bankingnewsai.com/banks/goldman-sachs#where) | [28](https://www.bankingnewsai.com/banks/goldman-sachs#timeline) | GS AI Platform and GS AI Assistant ([American Banker](https://www.americanbanker.com/news/goldman-sachs-staff-now-write-a-million-gen-ai-prompts-a-month), [American Banker](https://www.americanbanker.com/news/goldman-sachs-marco-argenti-is-3-on-the-most-innovative-people-in-finance)) |
| [Northern Trust](https://www.bankingnewsai.com/banks/northern-trust) | [79.7](https://www.bankingnewsai.com/banks/ai-index) | #23 of 120 | [12](https://www.bankingnewsai.com/banks/northern-trust#sources) | [32](https://www.bankingnewsai.com/banks/northern-trust#sources) | [11 of 17](https://www.bankingnewsai.com/banks/northern-trust#where) | [22](https://www.bankingnewsai.com/banks/northern-trust#timeline) | Open Semantic Interchange and the data foundation ([Northern Trust](https://www.northerntrust.com/united-states/pr/2026/northern-trust-collaborates-with-industry-peers-to-strengthen-data-and-ai-interoperability), [Northern Trust](https://northerntrust.com/content/dam/northerntrust/pws/nt/documents/earnings/2025/4q-2025-km040886-presentation.pdf), [Northern Trust Asset Management](https://ntam.northerntrust.com/united-states/all-investor/insights/investment-perspective-and-commentary/2026/how-does-natural-language-processing-work), [MarketBeat (Yahoo Finance)](https://finance.yahoo.com/news/northern-trust-conference-ntrs-bets-080213324.html), [Yahoo Finance](https://finance.yahoo.com/news/northern-trust-ntrs-q4-2025-153130711.html)) |
| [State Street](https://www.bankingnewsai.com/banks/state-street) | [75.4](https://www.bankingnewsai.com/banks/ai-index) | #30 of 120 | [15](https://www.bankingnewsai.com/banks/state-street#sources) | [20](https://www.bankingnewsai.com/banks/state-street#sources) | [9 of 14](https://www.bankingnewsai.com/banks/state-street#where) | [23](https://www.bankingnewsai.com/banks/state-street#timeline) | State Street Alpha and the AI hiring build-out ([American Banker](https://www.americanbanker.com/news/2025-the-most-powerful-women-in-finance-no-19-ann-fogarty-state-street), [Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/state-street-stt-q1-2026-165824761.html), [State Street (SEC filing)](https://www.sec.gov/Archives/edgar/data/93751/000009375126000387/stt2q26earningspresentat.htm)) |
| [Morgan Stanley](https://www.bankingnewsai.com/banks/morgan-stanley) | [69.7](https://www.bankingnewsai.com/banks/ai-index) | #34 of 120 | [21](https://www.bankingnewsai.com/banks/morgan-stanley#sources) | [9](https://www.bankingnewsai.com/banks/morgan-stanley#sources) | [9 of 14](https://www.bankingnewsai.com/banks/morgan-stanley#where) | [19](https://www.bankingnewsai.com/banks/morgan-stanley#timeline) | AI @ Morgan Stanley (Assistant, Debrief) and AskResearchGPT ([Morgan Stanley](https://www.morganstanley.com/press-releases/ai-at-morgan-stanley-debrief-launch), [Morgan Stanley](https://www.morganstanley.com/press-releases/morgan-stanley-research-announces-askresearchgpt), [Morgan Stanley](https://www.morganstanley.com/press-releases/morgan-stanley-wins-three-2024-technology-awards)) |

## On which parts of the AI record is BNY ahead of or behind its peers?

Each row is one input of the index, counted on the profiles of BNY and the 8 peers that are scored on the same basis. "Place" is BNY's position in the group of 9 (1st = most).

| Component (weight) | BNY | Peer median | Most in the group | Place |
| --- | --- | --- | --- | --- |
| Independent sources (45%) | 29 | 29 | [JPMorgan (43)](https://www.bankingnewsai.com/banks/jpmorgan-chase) | 5th of 9 |
| Use cases in production (10%) | 12 | 10 | [BofA (16)](https://www.bankingnewsai.com/banks/bank-of-america) | 4th of 9 |
| Own primary disclosures (10%) | 19 | 19.5 | [Northern Trust (32)](https://www.bankingnewsai.com/banks/northern-trust) | 5th of 9 |
| Dated moves, last 12 months (10%) | 31 | 26 | [Citi (34)](https://www.bankingnewsai.com/banks/citigroup) | 4th of 9 |
| Disclosed numbers (5%) | 21 | 18 | [BofA (28)](https://www.bankingnewsai.com/banks/bank-of-america) | 3rd of 9 |
| Named AI leaders (5%) | 17 | 16.5 | [Northern Trust (20)](https://www.bankingnewsai.com/banks/northern-trust) | 4th of 9 |
| Use cases described (5%) | 14 | 16 | [Citi (20)](https://www.bankingnewsai.com/banks/citigroup) | 6th of 9 |

## What has each bank in BNY's peer group disclosed about its AI?

Facts from each bank's profile, cited to the profile's own sources. "Not disclosed" means the bank's public record, as cited on its profile, does not state it.

| Bank | Platform or assistant, as the profile names it | AI leaders named | Headline AI number disclosed | Patents on the record | Open AI roles |
| --- | --- | --- | --- | --- | --- |
| [BNY (Bank of New York Mellon)](https://www.bankingnewsai.com/banks/bny-mellon) | Eliza ([American Banker](https://americanbanker.com/news/while-embedding-ai-everywhere-bny-wont-disclose-costs), [BNY](https://www.bny.com/assets/corporate/documents/pdf/investor-relations/earnings/quarterly-update-presentation-1q-2026.pdf), [BNY](https://www.bny.com/corporate/global/en/insights/unlocking-potential-enterprise-ai-platform-bny.html), [The Wall Street Journal](https://www.wsj.com/articles/bny-americas-oldest-bank-signs-multiyear-deal-with-openai-74987d1d), [Banking Dive](https://www.bankingdive.com/news/bny-google-cloud-agentic-AI-robin-vince/807390/), [American Banker](https://www.americanbanker.com/news/bny-tops-estimates-reports-revenue-upswing)) | [17, incl. Robin Vince (Chairman and CEO)](https://www.bankingnewsai.com/banks/bny-mellon#people) ([Bloomberg](https://www.bloomberg.com/news/articles/2026-07-21/openai-names-bny-nubank-ceos-to-board-ahead-of-ipo), [Banking Dive](https://www.bankingdive.com/news/bnys-robin-vince-stays-big-on-ai/804139/)) | Daily AI users / agent builders: ≈ 50% / > 50% of employees (Apr 16, 2026) ([BNY](https://www.bny.com/assets/corporate/documents/pdf/investor-relations/earnings/quarterly-update-presentation-1q-2026.pdf)) | 5 patents listed on the profile, e.g. EP 4758506 A1 (Machine-learning translation of one coding language into another) ([Google Patents (EPO)](https://patents.google.com/patent/EP4758506A1/en)) | [12+ open AI roles (Oct 1, 2026); most in AI product & strategy](https://www.bankingnewsai.com/banks/bny-mellon#roles) |
| [State Street](https://www.bankingnewsai.com/banks/state-street) | State Street Alpha and the AI hiring build-out ([American Banker](https://www.americanbanker.com/news/2025-the-most-powerful-women-in-finance-no-19-ann-fogarty-state-street), [Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/state-street-stt-q1-2026-165824761.html), [State Street (SEC filing)](https://www.sec.gov/Archives/edgar/data/93751/000009375126000387/stt2q26earningspresentat.htm)) | [14, incl. Ronald O'Hanley (Chairman and CEO)](https://www.bankingnewsai.com/banks/state-street#people) ([American Banker](https://www.americanbanker.com/news/state-street-touts-selection-by-treasury-1b-cost-cut-plan), [Reuters](https://www.reuters.com/business/finance/state-streets-profit-rises-robust-fee-income-2026-04-17/)) | Employees: ≈ 51,000 (Sep 30, 2026) ([State Street (SEC filing)](https://www.sec.gov/Archives/edgar/data/93751/000009375126000592/a3q26earningspressrelease.htm)) | 5 patents listed on the profile, e.g. US 11,693,917 B2 (Computational model optimizations) ([Google Patents (USPTO)](https://patents.google.com/patent/US11693917B2/en)) | [12+ open AI roles (Oct 1, 2026); most in AI product & strategy](https://www.bankingnewsai.com/banks/state-street#roles) |
| [Northern Trust](https://www.bankingnewsai.com/banks/northern-trust) | Open Semantic Interchange and the data foundation ([Northern Trust](https://www.northerntrust.com/united-states/pr/2026/northern-trust-collaborates-with-industry-peers-to-strengthen-data-and-ai-interoperability), [Northern Trust](https://northerntrust.com/content/dam/northerntrust/pws/nt/documents/earnings/2025/4q-2025-km040886-presentation.pdf), [Northern Trust Asset Management](https://ntam.northerntrust.com/united-states/all-investor/insights/investment-perspective-and-commentary/2026/how-does-natural-language-processing-work), [MarketBeat (Yahoo Finance)](https://finance.yahoo.com/news/northern-trust-conference-ntrs-bets-080213324.html), [Yahoo Finance](https://finance.yahoo.com/news/northern-trust-ntrs-q4-2025-153130711.html)) | [20, incl. Michael O'Grady (Chairman and CEO)](https://www.bankingnewsai.com/banks/northern-trust#people) ([Banking Dive](https://www.bankingdive.com/news/northern-trust-ceo-dismisses-bny-goldman-sachs-takeover-reports-ogrady-warren-vince/753953/), [American Banker](https://www.americanbanker.com/news/northern-trust-joins-banks-lifted-by-ipos-capital-markets)) | AI use cases in production: 150+ (Oct 22, 2025) ([GuruFocus (Yahoo Finance)](https://finance.yahoo.com/news/northern-trust-corp-ntrs-q3-190424060.html)) | 3 patents listed on the profile, e.g. US 11,869,015 B1 (Benchmarking that may use a k-nearest-neighbour or other machine-learning algorithm) ([Google Patents (USPTO)](https://patents.google.com/patent/US11869015B1/en)) | [11 open AI roles (Sep 24, 2026); most in AI engineering](https://www.bankingnewsai.com/banks/northern-trust#roles) |
| [JPMorgan Chase](https://www.bankingnewsai.com/banks/jpmorgan-chase) | LLM Suite ([American Banker](https://www.americanbanker.com/news/how-jpmorganchase-democratized-employee-access-to-gen-ai), [American Banker](https://www.americanbanker.com/video/wib-2025/driving-ai-use-cases-and-adoption-aligning-business-value-data-readiness-and-risk-management)) | [19, incl. Lori Beer (Global Chief Information Officer)](https://www.bankingnewsai.com/banks/jpmorgan-chase#people) ([American Banker](https://www.americanbanker.com/news/chases-lori-beer-is-8-on-the-most-innovative-people-in-finance-ranking)) | Technology employees: 65,000+ (Oct 1, 2026) ([American Banker](https://www.americanbanker.com/news/2026-the-most-powerful-women-in-banking-5-lori-beer-jpmorganchase)) | 6 patents listed on the profile, e.g. US 2026/0010713 A1 (Generative ML framework producing predictive results on financial transactions) ([Google Patents (USPTO)](https://patents.google.com/patent/US20260010713A1/en)) | [12+ open AI roles (Oct 1, 2026); most in ML & data science](https://www.bankingnewsai.com/banks/jpmorgan-chase#roles) |
| [Citigroup](https://www.bankingnewsai.com/banks/citigroup) | Citi Stylus Workspaces ([The Wall Street Journal](https://www.wsj.com/cio-journal/the-ai-superfans-companies-count-on-to-convert-the-skeptics-5b301a90), [Citigroup](https://www.citigroup.com/rcs/citigpa/storage/public/Earnings/Q12026/2026psqtr1rslt.pdf)) | [18, incl. Tim Ryan (Head of Technology and Business Enablement)](https://www.bankingnewsai.com/banks/citigroup#people) ([Reuters](https://www.reuters.com/business/finance/citigroup-says-ai-helps-speed-account-openings-systems-upgrades-2026-04-08/)) | Colleagues using AI tools: 80%+ (Apr 14, 2026) ([Citigroup](https://www.citigroup.com/rcs/citigpa/storage/public/Earnings/Q12026/2026psqtr1rslt.pdf)) | 4 patents listed on the profile, e.g. US 12,450,494 B1 (Validating autonomous AI agents using generative AI) ([Google Patents (USPTO)](https://patents.google.com/patent/US12450494B1/en)) | [12+ open AI roles (Oct 1, 2026); most in AI engineering](https://www.bankingnewsai.com/banks/citigroup#roles) |
| [The Charles Schwab Corporation](https://www.bankingnewsai.com/banks/charles-schwab) | Charley, Portfolio Insights, Schwab Knowledge Assistant and Schwab Advisor AI in Action ([Charles Schwab](https://pressroom.aboutschwab.com/press-releases/press-release/2026/Meet-Charley-Schwabs-New-AI-Powered-Assistant-Designed-to-Help-Clients-Get-Answers-and-Take-Action/default.aspx), [Charles Schwab](https://pressroom.aboutschwab.com/press-releases/press-release/2026/Charles-Schwab-Launches-AI-Powered-Capability-That-Helps-Investors-Understand-Portfolio-Performance-and-Market-Activity/default.aspx), [Charles Schwab](https://www.aboutschwab.com/mss/story/ai-on-the-other-end-of-the-line), [Charles Schwab](https://pressroom.aboutschwab.com/press-releases/press-release/2026/Schwab-Study-Reveals-RIA-AI-Adoption-More-Than-Doubles---But-Most-Firms-Still-in-Early-Stages/default.aspx), [Banking Dive](https://bankingdive.com/news/charles-schwab-bank-ceo-paul-woolway-retire-tyler-woulfe/811079)) | [14, incl. Rick Wurster (President and CEO)](https://www.bankingnewsai.com/banks/charles-schwab#people) ([Bloomberg](https://bloomberg.com/news/articles/2026-05-13/schwab-plans-to-use-ai-to-reach-serve-less-affluent-customers), [Bloomberg](https://bloomberg.com/news/articles/2026-02-11/charles-schwab-ceo-says-ai-is-poised-to-boost-wealth-managers)) | Retail clients wanting AI paired with human expertise: ≈ 70% (of ≈ 1,000 surveyed) (May 5, 2026) ([Charles Schwab](https://pressroom.aboutschwab.com/press-releases/press-release/2026/Charles-Schwab-Launches-AI-Powered-Capability-That-Helps-Investors-Understand-Portfolio-Performance-and-Market-Activity/default.aspx)) | 4 patents listed on the profile, e.g. US 2025/0077917 A1 (Iterative generation and plotting of machine-learning outcomes) ([Google Patents (USPTO)](https://patents.google.com/patent/US20250077917A1/en)) | [12+ open AI roles (Oct 1, 2026); most in AI product & strategy](https://www.bankingnewsai.com/banks/charles-schwab#roles) |
| [Goldman Sachs](https://www.bankingnewsai.com/banks/goldman-sachs) | GS AI Platform and GS AI Assistant ([American Banker](https://www.americanbanker.com/news/goldman-sachs-staff-now-write-a-million-gen-ai-prompts-a-month), [American Banker](https://www.americanbanker.com/news/goldman-sachs-marco-argenti-is-3-on-the-most-innovative-people-in-finance)) | [16, incl. Marco Argenti (Chief Information Officer)](https://www.bankingnewsai.com/banks/goldman-sachs#people) ([CNBC](https://www.cnbc.com/2026/02/06/anthropic-goldman-sachs-ai-model-accounting.html), [American Banker](https://www.americanbanker.com/news/goldman-sachs-marco-argenti-is-3-on-the-most-innovative-people-in-finance)) | Employees with GS AI Assistant: 46,000 (all) (Jul 25, 2025) ([American Banker](https://www.americanbanker.com/news/goldman-sachs-staff-now-write-a-million-gen-ai-prompts-a-month)) | 5 patents listed on the profile, e.g. US 2026/0072655 A1 (Context injection for AI coding assistants) ([Google Patents (USPTO)](https://patents.google.com/patent/US20260072655A1/en)) | [12+ open AI roles (Oct 1, 2026); most in AI engineering](https://www.bankingnewsai.com/banks/goldman-sachs#roles) |
| [Morgan Stanley](https://www.bankingnewsai.com/banks/morgan-stanley) | AI @ Morgan Stanley (Assistant, Debrief) and AskResearchGPT ([Morgan Stanley](https://www.morganstanley.com/press-releases/ai-at-morgan-stanley-debrief-launch), [Morgan Stanley](https://www.morganstanley.com/press-releases/morgan-stanley-research-announces-askresearchgpt), [Morgan Stanley](https://www.morganstanley.com/press-releases/morgan-stanley-wins-three-2024-technology-awards)) | [13, incl. Michael Pizzi (Head of Technology)](https://www.bankingnewsai.com/banks/morgan-stanley#people) ([American Banker](https://www.americanbanker.com/news/morgan-stanleys-michael-pizzi-is-27-on-the-most-innovative-people-in-finance-ranking)) | Employees with gen-AI access: ≈ 98% of 80,000 (Jun 1, 2026) ([American Banker](https://www.americanbanker.com/news/morgan-stanleys-michael-pizzi-is-27-on-the-most-innovative-people-in-finance-ranking)) | 3 patents listed on the profile, e.g. US 2026/0051336 A1 (Enhancing audio and video media using generative AI) ([Google Patents (USPTO)](https://patents.google.com/patent/US20260051336A1/en)) | [12+ open AI roles (Oct 1, 2026); most in AI engineering](https://www.bankingnewsai.com/banks/morgan-stanley#roles) |
| [Bank of America](https://www.bankingnewsai.com/banks/bank-of-america) | Erica (and EricaAssist) ([Bank of America Newsroom](https://newsroom.bankofamerica.com/content/newsroom/press-releases/2025/08/a-decade-of-ai-innovation--bofa-s-virtual-assistant-erica-surpas.html), [Bank of America Newsroom](https://newsroom.bankofamerica.com/content/newsroom/press-releases/2026/07/bank-of-america-enhances-ericaassist-with-generative-ai-to-help-.html), [American Banker](https://www.americanbanker.com/news/how-bank-of-americas-erica-does-the-work-of-11-000-people)) | [17, incl. Hari Gopalkrishnan (Chief Technology and Information Officer)](https://www.bankingnewsai.com/banks/bank-of-america#people) ([The Wall Street Journal](https://www.wsj.com/articles/the-man-behind-bank-of-americas-13-billion-tech-agenda-3d770a2d), [American Banker](https://www.americanbanker.com/news/bofas-cto-is-12-on-the-most-innovative-people-in-finance-ranking)) | Erica interactions per day: 2 million (Jan 22, 2026) ([American Banker](https://www.americanbanker.com/news/how-bank-of-americas-erica-does-the-work-of-11-000-people)) | 8 patents listed on the profile, e.g. US 12,705,363 B2 (Vulnerability detection and mitigation using artificial intelligence in an electronic environment: Generates a vulnerability attribute for a network device from source data using AI.) ([Google Patents (USPTO)](https://patents.google.com/patent/US12705363B2/en)) | [12+ open AI roles (Oct 1, 2026); most in AI engineering](https://www.bankingnewsai.com/banks/bank-of-america#roles) |

## What are the latest dated moves on the AI record of BNY and its peers?

The two newest dated entries of each bank since Oct 16, 2025, from the timelines of the profiles (which also log filings, results and deals that bear on the AI record), newest first.

| Date | Bank | Move |
| --- | --- | --- |
| Oct 15, 2026 | [BNY](https://www.bankingnewsai.com/banks/bny-mellon) | Q3 call: '400-plus' AI solutions in production; AI spend not broken out ([American Banker](https://americanbanker.com/news/while-embedding-ai-everywhere-bny-wont-disclose-costs)) |
| Oct 13, 2026 | [BofA](https://www.bankingnewsai.com/banks/bank-of-america) | Treasury, FinCEN and OCC impose $1.21 billion in AML and sanctions penalties ([U.S. Department of the Treasury](https://home.treasury.gov/news/press-releases/sb0657), [Office of the Comptroller of the Currency](https://www.occ.gov/news-issuances/news-releases/2026/nr-occ-2026-89.html), [Banking Dive](https://bankingdive.com/news/bofa-fined-1-21-billion-over-aml-bsa-occ-treasury/832915)) |
| Oct 13, 2026 | [Goldman](https://www.bankingnewsai.com/banks/goldman-sachs) | Q3 2026 call: Solomon sets out AI guardrails and compute-supply risk ([Investing.com](https://investing.com/news/transcripts/earnings-call-transcript-goldman-sachs-tops-q3-2026-estimates-as-revenue-rises-93CH-4947164), [American Banker](https://americanbanker.com/news/goldmans-solomon-wants-clear-human-accountability-on-ai)) |
| Oct 13, 2026 | [JPMorgan](https://www.bankingnewsai.com/banks/jpmorgan-chase) | Q3 2026 call: outside AI agents stay blocked; AI spend put near $700 million ([CNBC](https://www.cnbc.com/2026/10/13/jpmorgan-ai-agents-account-access.html), [Banking Dive](https://www.bankingdive.com/news/jpmorgan-dimon-ai-agents-bank-customers-liability-transfer/832870), [American Banker](https://www.americanbanker.com/news/jpmorgan-warns-of-risks-to-consumers-who-rely-on-ai-agents)) |
| Oct 8, 2026 | [Goldman](https://www.bankingnewsai.com/banks/goldman-sachs) | Sneader: new joiners 'are managing agents' ([Bloomberg](https://bloomberg.com/news/articles/2026-10-08/young-bankers-to-manage-ai-agents-from-start-goldman-exec-says)) |
| Oct 8, 2026 | [Schwab](https://www.bankingnewsai.com/banks/charles-schwab) | How Charley was built: employee testing, confirmation before any change ([Traders Magazine](https://www.tradersmagazine.com/featured_articles/charles-schwabs-amy-ruegg-ai-can-make-investing-easier-but-human-expertise-remains-key/)) |
| Oct 6, 2026 | [BofA](https://www.bankingnewsai.com/banks/bank-of-america) | Evident AI Index: seventh, up from tenth ([American Banker](https://americanbanker.com/news/jpmorganchase-still-tops-ai-ranking-as-big-bank-lead-widens)) |
| Oct 6, 2026 | [JPMorgan](https://www.bankingnewsai.com/banks/jpmorgan-chase) | Evident AI Index: first for the fourth consecutive year ([American Banker](https://www.americanbanker.com/news/jpmorganchase-still-tops-ai-ranking-as-big-bank-lead-widens)) |
| Oct 1, 2026 | [Citi](https://www.bankingnewsai.com/banks/citigroup) | Payments chief: no AI model to authorise payments ([American Banker](https://americanbanker.com/news/2026-the-most-powerful-women-in-banking-women-to-watch-7-debopama-sen-citi)) |
| Oct 1, 2026 | [State Street](https://www.bankingnewsai.com/banks/state-street) | Fogarty: agentic AI 'moved into production', driverless NAV live ([American Banker](https://www.americanbanker.com/news/2026-the-most-powerful-women-in-finance-19-ann-fogarty-state-street)) |
| Oct 1, 2026 | [BNY](https://www.bankingnewsai.com/banks/bny-mellon) | Russell profile: usage up from about 20% to 99% trained in a year ([American Banker](https://www.americanbanker.com/news/2026-the-most-powerful-women-in-banking-women-to-watch-18-leigh-ann-russell-bny)) |
| Sep 30, 2026 | [Schwab](https://www.bankingnewsai.com/banks/charles-schwab) | Charley, a gen-AI assistant for retail clients, unveiled ([Charles Schwab](https://pressroom.aboutschwab.com/press-releases/press-release/2026/Meet-Charley-Schwabs-New-AI-Powered-Assistant-Designed-to-Help-Clients-Get-Answers-and-Take-Action/default.aspx), [Charles Schwab (Yahoo Finance)](https://finance.yahoo.com/technology/ai/articles/meet-charley-schwab-ai-powered-130000718.html)) |
| Sep 29, 2026 | [Citi](https://www.bankingnewsai.com/banks/citigroup) | Market Guide platform relaunched with AI at Sibos ([Citigroup (Business Wire)](https://secure.businesswire.com/news/home/20260929289110/en/Citi-Investor-Services-Reimagines-Market-Guide-Platform-Harnessing-AI-to-Deliver-Timely-Intelligence-for-Decision-Makers)) |
| Sep 29, 2026 | [Northern Trust](https://www.bankingnewsai.com/banks/northern-trust) | CFO David Fox to retire around March 2027 ([Northern Trust (SEC filings)](https://www.sec.gov/Archives/edgar/data/73124/000007312426000057/ntrs-20260928.htm)) |
| Sep 15, 2026 | [Northern Trust](https://www.bankingnewsai.com/banks/northern-trust) | Northern Trust survey: every asset manager respondent uses AI ([Northern Trust (Business Wire via Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/northern-trust-survey-asset-managers-080000689.html)) |
| Sep 14, 2026 | [State Street](https://www.bankingnewsai.com/banks/state-street) | Ann Fogarty named enterprise COO to lead technology, operations and the AI agenda ([State Street (Business Wire via Yahoo Finance)](https://finance.yahoo.com/technology/articles/state-street-announces-leadership-alpha-103000725.html)) |
| Sep 10, 2026 | [Morgan Stanley](https://www.bankingnewsai.com/banks/morgan-stanley) | Design partner for OpenAI's banker research tool ([American Banker](https://www.americanbanker.com/news/openai-launches-financial-tool-for-wall-street-bankers)) |
| Sep 10, 2026 | [Morgan Stanley](https://www.bankingnewsai.com/banks/morgan-stanley) | OpenAI launches ChatGPT for Financial Services, shaped with Morgan Stanley and Evercore ([OpenAI](https://openai.com/index/introducing-chatgpt-financial-services/), [Fortune](https://fortune.com/2026/09/10/openai-courts-wall-street-with-chatgpt-for-financial-services-developed-with-morgan-stanley/)) |

## How does BNY's Eliza compare with other banks' internal AI platforms?

Adoption figures use different units (trained, with access, daily users, use cases) and dates, so they rank disclosure, not capability.

| Bank | Platform | Since | Adoption or scale disclosed |
| --- | --- | --- | --- |
| BNY | Eliza (Eliza 2.0 from September 2025), model-agnostic across OpenAI, Google and Anthropic models plus Llama and Mistral hosted on premises | Summer 2023 | 99% of staff trained by mid-2025; about 50% daily users and more than 50% building agents (Q1 2026); '400-plus' AI solutions (October 15, 2026) ([Fortune](https://fortune.com/2024/08/15/exclusive-how-bnys-new-ai-tool-eliza-is-minting-an-army-of-disposable-assistants-that-could-save-billions-in-labor-costs/), [Fortune](https://fortune.com/2025/09/29/bny-unveils-updated-eliza-platform-as-it-touts-that-majority-of-employees-use-ai-tools-daily/), [Fortune](https://fortune.com/2025/06/26/ai-banking-bny-eliza-personal-information/), [BNY](https://www.bny.com/assets/corporate/documents/pdf/investor-relations/earnings/quarterly-update-presentation-1q-2026.pdf), [American Banker](https://www.americanbanker.com/news/2026-the-most-powerful-women-in-banking-women-to-watch-18-leigh-ann-russell-bny), [Investing.com](https://investing.com/news/transcripts/earnings-call-transcript-bny-mellon-posts-strong-q3-2026-results-stock-slips-93CH-4952348)) |
| JPMorgan Chase | LLM Suite, a proprietary layer over third-party models | 2024 | About 250,000 employees with access, about half daily users (American Banker); the bank cites 150,000 weekly users ([American Banker](https://www.americanbanker.com/video/wib-2025/driving-ai-use-cases-and-adoption-aligning-business-value-data-readiness-and-risk-management), [JPMorganChase](https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/2026-company-updates/company-update-chairman-ceo-transcript.pdf)) |
| Citigroup | Citi Stylus Workspaces | Late 2024 | More than 80% of colleagues using AI tools; 42 million AI interactions since inception (Q1 2026) ([The Wall Street Journal](https://www.wsj.com/cio-journal/the-ai-superfans-companies-count-on-to-convert-the-skeptics-5b301a90), [Citigroup](https://www.citigroup.com/rcs/citigpa/storage/public/Earnings/Q12026/2026psqtr1rslt.pdf)) |
| Goldman Sachs | GS AI Platform and GS AI Assistant | Firmwide July 2025 | All 46,000 employees; more than a million prompts a month ([American Banker](https://www.americanbanker.com/news/goldman-sachs-staff-now-write-a-million-gen-ai-prompts-a-month), [American Banker](https://www.americanbanker.com/news/goldman-sachs-marco-argenti-is-3-on-the-most-innovative-people-in-finance)) |
| Morgan Stanley | AI @ Morgan Stanley (Assistant, Debrief) and AskResearchGPT on OpenAI models | September 2023 | About 98% of 80,000 employees with generative-AI access; 98% of advisor teams use the Assistant ([American Banker](https://www.americanbanker.com/news/morgan-stanleys-michael-pizzi-is-27-on-the-most-innovative-people-in-finance-ranking), [Morgan Stanley](https://www.morganstanley.com/press-releases/ai-at-morgan-stanley-debrief-launch)) |
| State Street | Central AI hub feeding the State Street Alpha platform | Reported April 2026 | More than 200 AI use cases, 70 live; all developers have AI development tools ([Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/state-street-stt-q1-2026-165824761.html)) |
| Northern Trust | NT Byron, on which employees build task-focused agents | Reported January 2026 | AI embedded in more than 150 use cases (October 2025) ([Yahoo Finance](https://finance.yahoo.com/news/northern-trust-ntrs-q4-2025-153130711.html), [GuruFocus (Yahoo Finance)](https://finance.yahoo.com/news/northern-trust-corp-ntrs-q3-190424060.html)) |
| Charles Schwab | Schwab Knowledge Assistant and AI tools for all staff; Portfolio Insights and Charley for clients | 2024-2026 | All 33,000 employees with AI tools; more than 220 AI use cases ([The Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/schwab-schw-q1-2026-earnings-145425271.html), [MarketBeat (Yahoo Finance)](https://finance.yahoo.com/news/charles-schwab-q4-earnings-call-171437278.html)) |

## How do BNY's 'digital employees' compare with other banks' AI agents?

What each bank has said about agents doing work end to end, and what it has said about headcount.

| Bank | Agents on the record | Workforce effect disclosed | Date |
| --- | --- | --- | --- |
| BNY | About 140 'digital employees' with logins, employee numbers and human managers (Q1 2026); payments agents cut open investigations by nearly 80%; digital engineers that find and fix code vulnerabilities passed 150 | Headcount down 7% year on year in Q2 2026; intern and analyst classes tripled since 2022 | April-October 2026 ([BNY](https://www.bny.com/assets/corporate/documents/pdf/investor-relations/earnings/quarterly-update-presentation-1q-2026.pdf), [Microsoft WorkLab](https://www.microsoft.com/en-us/worklab/the-making-of-a-frontier-firm-how-ai-is-redesigning-work-at-bny), [American Banker](https://www.americanbanker.com/news/2026-the-most-powerful-women-in-banking-women-to-watch-18-leigh-ann-russell-bny), [American Banker](https://www.americanbanker.com/news/bny-ai-bet-is-paying-off-client-impact-is-measurable), [Bloomberg](https://www.bloomberg.com/news/articles/2026-05-28/bny-triples-hiring-of-interns-and-analysts-to-tap-ai-proficiency)) |
| State Street | Agentic AI capabilities moved into production under enterprise COO Ann Fogarty; 'driverless NAV' live | About $500 million of one-time costs, mostly severance; net headcount to fall in the low single digits | July-October 2026 ([American Banker](https://www.americanbanker.com/news/2026-the-most-powerful-women-in-finance-19-ann-fogarty-state-street), [Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/state-street-stt-q2-2026-141337102.html)) |
| Northern Trust | Agents for client action plans and cyber horizon-scanning; CFO says agents will not replace staff until they are reliable | $51.0 million of severance in Q2 2026 | July-September 2026 ([Yahoo Finance](https://finance.yahoo.com/markets/stocks/articles/northern-trust-ntrs-q2-2026-004614674.html), [Investing.com](https://ca.investing.com/news/stock-market-news/northern-trust-at-barclays-conference-wealth-push-lifts-outlook-93CH-4838293), [Northern Trust](https://northerntrust.com/content/dam/northerntrust/pws/nt/documents/earnings/2026/q2-2026-release-a0716c.pdf)) |
| Goldman Sachs | New joiners 'are managing agents', a 'virtual army' from day one (Asia Pacific head Kevin Sneader); Devin autonomous coding agents | Not quantified for agents | July 2025-October 2026 ([Bloomberg](https://bloomberg.com/news/articles/2026-10-08/young-bankers-to-manage-ai-agents-from-start-goldman-exec-says), [CNBC](https://www.cnbc.com/2025/07/11/goldman-sachs-autonomous-coder-pilot-marks-major-ai-milestone.html)) |
| JPMorgan Chase | Almost 1,000 AI use cases, about 50 of them 'really important' | Headcount cuts of 30% to 40% in some units | 2026 ([The Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/jpmorgan-chase-jpm-q2-2026-124458999.html), [CNBC](https://www.cnbc.com/2026/07/14/jpm-bank-of-america-citi-bank-earnings-live-updates.html)) |
| Citigroup | More than 100 processes mapped end to end for AI and automation; AI code review freeing about 100,000 engineering hours a week | Headcount about 219,000, 5,000 fewer in Q2 2026 | May-July 2026 ([Citigroup](https://www.citigroup.com/rcs/citigpa/storage/public/2026psqtr2-transcript.pdf), [Citigroup](https://citigroup.com/rcs/citigpa/storage/public/investor-day/citi-ID26-full-event-transcript.pdf)) |

## How does BNY's technology spending and choice of AI models compare with its peers'?

BNY spent about $3.8 billion on technology in 2025, roughly 19% of revenue, which CNBC called the highest proportion among its peers; its CFO describes an engineering budget of about $4 billion a year that funds Eliza, and the second-quarter 2026 deck tracks toward about $500 million of incremental investment and about $450 million of efficiency savings in 2026. State Street's July 2026 targets put the benefit of its technology and AI transformation at about $1 billion of run-rate by 2029, $750 million of it productivity. Northern Trust reports 2025 productivity savings above 4% of its expense base. JPMorgan Chase budgets nearly $20 billion for technology in 2026. ([CNBC](https://www.cnbc.com/2026/02/09/digital-employees-ai-bootcamps-americas-oldest-bank-spends-billions-on-tech.html), [Yahoo Finance](https://finance.yahoo.com/technology/ai/articles/bny-sees-cross-selling-ai-210204657.html), [BNY (SEC filing)](https://www.sec.gov/Archives/edgar/data/1390777/000139077726000071/ex993_quarterlyupdatepre.htm), [State Street (SEC filing)](https://www.sec.gov/Archives/edgar/data/93751/000009375126000387/stt2q26earningspresentat.htm), [Yahoo Finance](https://finance.yahoo.com/news/northern-trust-ntrs-q4-2025-153130711.html), [CNBC](https://www.cnbc.com/2026/06/09/jpmorgan-chase-ai-agents.html))

On models, BNY is the most openly multi-vendor of the group: OpenAI under a multi-year deal (February 2025), Google Cloud's Gemini Enterprise inside Eliza (December 2025), Claude cited in Anthropic's May 2026 finance-agent launch, open-weight Llama and Mistral models hosted on premises, and the first NVIDIA DGX SuperPOD at a major bank (March 2024). Morgan Stanley's wealth unit named OpenAI its strategic AI partner in March 2023, JPMorgan's LLM Suite swaps third-party models in and out behind one layer, and Schwab became the only RIA custodian in Anthropic's Claude for Financial Advisors in September 2026. ([The Wall Street Journal](https://www.wsj.com/articles/bny-americas-oldest-bank-signs-multiyear-deal-with-openai-74987d1d), [BNY and Google Cloud (PR Newswire)](https://prnewswire.com/news-releases/bny-collaborates-with-google-cloud-to-advance-its-eliza-ai-platform-with-gemini-enterprise-302634978.html), [Anthropic](https://www.anthropic.com/news/finance-agents), [Fortune](https://fortune.com/2025/06/26/ai-banking-bny-eliza-personal-information/), [NVIDIA](https://blogs.nvidia.com/blog/bny-mellon-superpod), [Morgan Stanley](https://www.morganstanley.com/press-releases/ai-at-morgan-stanley-debrief-launch), [American Banker](https://www.americanbanker.com/news/how-jpmorganchase-democratized-employee-access-to-gen-ai), [Charles Schwab](https://pressroom.aboutschwab.com/press-releases/press-release/2026/Charles-Schwab-and-Anthropic-to-Bring-Claude-to-Independent-Registered-Investment-Advisors/default.aspx))

## Which banks are BNY's peers, and why these?

BNY (Bank of New York Mellon) is compared here with State Street, Northern Trust, JPMorgan Chase, Citigroup, The Charles Schwab Corporation, Goldman Sachs, Morgan Stanley and Bank of America: chosen by the editors for this page (see the note below the table). BNY (Bank of New York Mellon) is classed as a trust and custody bank in the Northeast.

BNY is the world's largest custodian and has no consumer bank, so it is compared with the custody banks and the universal banks that run large securities-services and wealth platforms (State Street, Northern Trust, JPMorgan Chase, Citigroup, Schwab, Goldman Sachs, Morgan Stanley, Bank of America) rather than with Northeast regional lenders.

## Common questions

### Is BNY better than State Street at AI?

The record shows BNY has put far more on it. BNY scores 89.8 on this site's disclosure index against State Street's 75.4, and publishes running counts: about 220 AI solutions and 140 digital employees in April 2026 and '400-plus' solutions by October 15, 2026. State Street reported more than 200 use cases with 70 live in April 2026 and moved agentic AI into production with a live 'driverless NAV' by October 2026. Neither figure measures quality. ([BNY](https://www.bny.com/assets/corporate/documents/pdf/investor-relations/earnings/quarterly-update-presentation-1q-2026.pdf), [Investing.com](https://investing.com/news/transcripts/earnings-call-transcript-bny-mellon-posts-strong-q3-2026-results-stock-slips-93CH-4952348), [Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/state-street-stt-q1-2026-165824761.html), [American Banker](https://www.americanbanker.com/news/2026-the-most-powerful-women-in-finance-19-ann-fogarty-state-street))

### How does BNY's Eliza compare with JPMorgan's LLM Suite?

Both are internal platforms that sit over several outside models. JPMorgan's LLM Suite reaches about 250,000 employees, about half of them daily users, on a technology budget of nearly $20 billion. BNY's Eliza reaches a smaller workforce more deeply: 99% of staff trained, about half daily users and more than half building their own agents, with about 140 agents run as 'digital employees' with managers and employee numbers (2025-2026). ([American Banker](https://www.americanbanker.com/video/wib-2025/driving-ai-use-cases-and-adoption-aligning-business-value-data-readiness-and-risk-management), [CNBC](https://www.cnbc.com/2026/06/09/jpmorgan-chase-ai-agents.html), [American Banker](https://www.americanbanker.com/news/2026-the-most-powerful-women-in-banking-women-to-watch-18-leigh-ann-russell-bny), [BNY](https://www.bny.com/assets/corporate/documents/pdf/investor-relations/earnings/quarterly-update-presentation-1q-2026.pdf))

### How does BNY's technology spending compare with other banks?

BNY spent about $3.8 billion on technology in 2025, roughly 19% of revenue, the highest share among its big-bank peers according to CNBC (February 2026); its CFO cites about $4 billion a year of engineering spend. JPMorgan Chase's 2026 technology budget is nearly $20 billion. BNY does not break out AI spend; JPMorgan's CFO has put its annual AI spend at closer to $700 million. ([CNBC](https://www.cnbc.com/2026/02/09/digital-employees-ai-bootcamps-americas-oldest-bank-spends-billions-on-tech.html), [Yahoo Finance](https://finance.yahoo.com/technology/ai/articles/bny-sees-cross-selling-ai-210204657.html), [CNBC](https://www.cnbc.com/2026/06/09/jpmorgan-chase-ai-agents.html), [American Banker](https://americanbanker.com/news/while-embedding-ai-everywhere-bny-wont-disclose-costs), [Banking Dive](https://www.bankingdive.com/news/jpmorgan-dimon-ai-agents-bank-customers-liability-transfer/832870))

### Does Northern Trust or BNY have more AI in production?

By their own counts, BNY. Northern Trust's CEO said in October 2025 that AI was embedded in more than 150 use cases and its employees build task-focused agents on NT Byron. BNY reported 160 AI solutions at the end of 2025, about 220 in April 2026 and '400-plus' in October 2026. Northern Trust's CFO said in September 2026 the bank has more AI use cases than time and money to pursue. ([GuruFocus (Yahoo Finance)](https://finance.yahoo.com/news/northern-trust-corp-ntrs-q3-190424060.html), [Yahoo Finance](https://finance.yahoo.com/news/northern-trust-ntrs-q4-2025-153130711.html), [BNY (SEC filing)](https://www.sec.gov/Archives/edgar/data/1390777/000139077726000004/ex993_quarterlyupdatepre.htm), [BNY](https://www.bny.com/assets/corporate/documents/pdf/investor-relations/earnings/quarterly-update-presentation-1q-2026.pdf), [Investing.com](https://investing.com/news/transcripts/earnings-call-transcript-bny-mellon-posts-strong-q3-2026-results-stock-slips-93CH-4952348), [Investing.com](https://ca.investing.com/news/stock-market-news/northern-trust-at-barclays-conference-wealth-push-lifts-outlook-93CH-4838293))

### What are BNY's 'digital employees' and do other banks have them?

They are AI agents with their own login credentials, an employee number and a human manager who assigns and reviews their work; BNY counted 134 at the end of 2025 and about 140 in April 2026, and BNY Pershing alone reported 160 in March 2026. Peers describe agents without counting them this way: State Street says agentic AI is in production and Goldman's Kevin Sneader says new joiners manage a 'virtual army' of agents. ([BNY (SEC filing)](https://www.sec.gov/Archives/edgar/data/1390777/000139077726000004/ex993_quarterlyupdatepre.htm), [BNY](https://www.bny.com/assets/corporate/documents/pdf/investor-relations/earnings/quarterly-update-presentation-1q-2026.pdf), [The Daily Upside (Yahoo Finance)](https://finance.yahoo.com/news/agentic-ai-arrives-advisor-offices-040200118.html), [Microsoft WorkLab](https://www.microsoft.com/en-us/worklab/the-making-of-a-frontier-firm-how-ai-is-redesigning-work-at-bny), [American Banker](https://www.americanbanker.com/news/2026-the-most-powerful-women-in-finance-19-ann-fogarty-state-street), [Bloomberg](https://bloomberg.com/news/articles/2026-10-08/young-bankers-to-manage-ai-agents-from-start-goldman-exec-says))

### Which AI models does BNY use compared with Morgan Stanley?

BNY uses several: OpenAI under a multi-year deal since February 2025, Google's Gemini Enterprise since December 2025, Anthropic's Claude, and Llama and Mistral models it hosts on premises. Morgan Stanley's wealth business has worked with OpenAI since 2022 and named it its strategic AI partner in March 2023; its advisor Assistant, Debrief and AskResearchGPT run on OpenAI models. ([The Wall Street Journal](https://www.wsj.com/articles/bny-americas-oldest-bank-signs-multiyear-deal-with-openai-74987d1d), [Banking Dive](https://www.bankingdive.com/news/bny-google-cloud-agentic-AI-robin-vince/807390/), [Anthropic](https://www.anthropic.com/news/finance-agents), [Fortune](https://fortune.com/2025/06/26/ai-banking-bny-eliza-personal-information/), [Morgan Stanley](https://www.morganstanley.com/press-releases/ai-at-morgan-stanley-debrief-launch), [Morgan Stanley](https://www.morganstanley.com/press-releases/morgan-stanley-research-announces-askresearchgpt))

### Is BNY cutting jobs because of AI like its peers?

BNY's headcount fell 7% year on year by the second quarter of 2026 while revenue hit a record $5.7 billion, and Vince calls AI 'a jobs creator, not a destroyer'; the bank has tripled its intern and analyst classes since 2022. State Street expects about $500 million of one-time costs, mostly severance, and Citigroup cut about 5,000 roles in the second quarter of 2026. ([American Banker](https://www.americanbanker.com/news/bny-ai-bet-is-paying-off-client-impact-is-measurable), [American Banker](https://www.americanbanker.com/news/bny-ceo-says-ai-is-a-jobs-creator-not-a-destroyer), [Bloomberg](https://www.bloomberg.com/news/articles/2026-05-28/bny-triples-hiring-of-interns-and-analysts-to-tap-ai-proficiency), [Motley Fool (Yahoo Finance)](https://finance.yahoo.com/markets/stocks/articles/state-street-stt-q2-2026-141337102.html), [Citigroup](https://www.citigroup.com/rcs/citigpa/storage/public/2026psqtr2-transcript.pdf))

## Peers on this site

- [State Street AI strategy](https://www.bankingnewsai.com/banks/state-street) · [vs peers](https://www.bankingnewsai.com/banks/state-street/vs-peers)
- [Northern Trust AI strategy](https://www.bankingnewsai.com/banks/northern-trust) · [vs peers](https://www.bankingnewsai.com/banks/northern-trust/vs-peers)
- [JPMorgan Chase AI strategy](https://www.bankingnewsai.com/banks/jpmorgan-chase) · [vs peers](https://www.bankingnewsai.com/banks/jpmorgan-chase/vs-peers)
- [Citigroup AI strategy](https://www.bankingnewsai.com/banks/citigroup) · [vs peers](https://www.bankingnewsai.com/banks/citigroup/vs-peers)
- [The Charles Schwab Corporation AI strategy](https://www.bankingnewsai.com/banks/charles-schwab) · [vs peers](https://www.bankingnewsai.com/banks/charles-schwab/vs-peers)
- [Goldman Sachs AI strategy](https://www.bankingnewsai.com/banks/goldman-sachs) · [vs peers](https://www.bankingnewsai.com/banks/goldman-sachs/vs-peers)
- [Morgan Stanley AI strategy](https://www.bankingnewsai.com/banks/morgan-stanley) · [vs peers](https://www.bankingnewsai.com/banks/morgan-stanley/vs-peers)
- [Bank of America AI strategy](https://www.bankingnewsai.com/banks/bank-of-america) · [vs peers](https://www.bankingnewsai.com/banks/bank-of-america/vs-peers)

## Sources

1. Quarterly Update Presentation, 1Q 2026 — BNY, Apr 16, 2026. https://www.bny.com/assets/corporate/documents/pdf/investor-relations/earnings/quarterly-update-presentation-1q-2026.pdf
2. AI in Fund Operations - The Next Chapter — BNY, Oct 5, 2026. https://www.bny.com/corporate/global/en/insights/ai-fund-operations.html
3. Earnings call transcript: BNY Mellon posts strong Q3 2026 results, stock slips — Investing.com, Oct 15, 2026. https://investing.com/news/transcripts/earnings-call-transcript-bny-mellon-posts-strong-q3-2026-results-stock-slips-93CH-4952348
4. While embedding AI 'everywhere,' BNY won't disclose costs — American Banker, Oct 15, 2026. https://americanbanker.com/news/while-embedding-ai-everywhere-bny-wont-disclose-costs
5. State Street (STT) Q1 2026 Earnings Transcript — Motley Fool (Yahoo Finance), Apr 17, 2026. https://finance.yahoo.com/markets/stocks/articles/state-street-stt-q1-2026-165824761.html
6. Northern Trust Corp (NTRS) Q3 2025 Earnings Call Highlights — GuruFocus (Yahoo Finance), Oct 22, 2025. https://finance.yahoo.com/news/northern-trust-corp-ntrs-q3-190424060.html
7. Digital employees, AI bootcamps: America's oldest bank is spending billions on tech — CNBC, Feb 9, 2026. https://www.cnbc.com/2026/02/09/digital-employees-ai-bootcamps-americas-oldest-bank-spends-billions-on-tech.html
8. JPMorgan Chase plans to deploy more powerful AI agents this year — CNBC, Jun 9, 2026. https://www.cnbc.com/2026/06/09/jpmorgan-chase-ai-agents.html
9. BNY, America's Oldest Bank, Signs Multiyear Deal With OpenAI — The Wall Street Journal, Feb 26, 2025. https://www.wsj.com/articles/bny-americas-oldest-bank-signs-multiyear-deal-with-openai-74987d1d
10. BNY looks to Google Cloud for agentic AI push — Banking Dive, Dec 9, 2025. https://www.bankingdive.com/news/bny-google-cloud-agentic-AI-robin-vince/807390/
11. Exhibit 99.3: Quarterly Update Presentation, 1Q 2026 (Form 8-K) — BNY (SEC filing), Apr 16, 2026. https://www.sec.gov/Archives/edgar/data/1390777/000139077726000042/ex993_quarterlyupdatepre.htm
12. OpenAI Names BNY, Nubank CEOs to Board Ahead of IPO — Bloomberg, Jul 21, 2026. https://www.bloomberg.com/news/articles/2026-07-21/openai-names-bny-nubank-ceos-to-board-ahead-of-ipo
13. BNY moves quickly to adopt AI solutions, platforms — American Banker, Oct 16, 2025. https://www.americanbanker.com/news/bny-tops-estimates-reports-revenue-upswing
14. Exhibit 99.3: Quarterly Update Presentation, 4Q 2025 (Form 8-K) — BNY (SEC filing), Jan 13, 2026. https://www.sec.gov/Archives/edgar/data/1390777/000139077726000004/ex993_quarterlyupdatepre.htm
15. BNY Sees Cross-Selling and AI Investments Fueling Its Next Growth Phase — Yahoo Finance, Sep 19, 2026. https://finance.yahoo.com/technology/ai/articles/bny-sees-cross-selling-ai-210204657.html
16. The Most Powerful Women in Banking Women to Watch, #18, Leigh-Ann Russell, BNY — American Banker, Oct 1, 2026. https://www.americanbanker.com/news/2026-the-most-powerful-women-in-banking-women-to-watch-18-leigh-ann-russell-bny
17. Goldman Sachs staff now write a million gen AI prompts a month — American Banker, Jul 25, 2025. https://www.americanbanker.com/news/goldman-sachs-staff-now-write-a-million-gen-ai-prompts-a-month
18. Morgan Stanley's Tech Chief Used AI to Crack a Major Coding Problem — American Banker, Jun 1, 2026. https://www.americanbanker.com/news/morgan-stanleys-michael-pizzi-is-27-on-the-most-innovative-people-in-finance-ranking
19. OpenAI appoints two new members to board of directors — CNBC, Jul 21, 2026. https://www.cnbc.com/2026/07/21/openai-appoints-two-new-members-to-board-of-directors.html
20. BNY gets access to OpenAI, Anthropic advanced cyber models — Axios, Apr 16, 2026. https://axios.com/2026/04/16/scoop-bny-openai-gpt-cyber
21. Launch of AI @ Morgan Stanley Debrief — Morgan Stanley, Jun 26, 2024. https://www.morganstanley.com/press-releases/ai-at-morgan-stanley-debrief-launch
22. BNY skipped the 'tokenmaxxing' craze. Here's what AI metrics it tracks instead — Fortune, Jul 28, 2026. https://fortune.com/2026/07/28/bny-skipped-tokenmaxxing-craze-what-ai-metrics-tracks-cfo/
23. JPMorgan CEO Dimon warns customers of 'liability transfer' with AI — Banking Dive, Oct 13, 2026. https://www.bankingdive.com/news/jpmorgan-dimon-ai-agents-bank-customers-liability-transfer/832870
24. Annual Report on Form 10-K for 2025, Exhibit 13.1 (financial section and risk factors) — BNY (SEC filing), Feb 25, 2026. https://www.sec.gov/Archives/edgar/data/1390777/000139077726000033/bk-20251231_d2.htm
25. Northern Trust Corporation Annual Report on Form 10-K for the fiscal year ended December 31, 2025 — Northern Trust (SEC filings), Feb 24, 2026. https://www.sec.gov/Archives/edgar/data/73124/000007312426000016/ntrs-20251231.htm
26. Northern Trust Corporation 2026 Proxy Statement (Schedule 14A) — Northern Trust (SEC filings), Mar 11, 2026. https://www.sec.gov/Archives/edgar/data/73124/000007312426000022/ntrs-20260311.htm
27. Northern Trust (NTRS) Q2 2026 Earnings Call Transcript — Yahoo Finance, Jul 22, 2026. https://finance.yahoo.com/markets/stocks/articles/northern-trust-ntrs-q2-2026-004614674.html
28. The making of a Frontier Firm: How AI is redesigning work at BNY — Microsoft WorkLab, May 12, 2026. https://www.microsoft.com/en-us/worklab/the-making-of-a-frontier-firm-how-ai-is-redesigning-work-at-bny
29. BNY builds 'AI for everyone, everywhere' with OpenAI — OpenAI, Dec 12, 2025. https://openai.com/index/bny/
30. Meet Charley, Schwab's New AI-Powered Assistant Designed to Help Clients Get Answers and Take Action — Charles Schwab, Sep 30, 2026. https://pressroom.aboutschwab.com/press-releases/press-release/2026/Meet-Charley-Schwabs-New-AI-Powered-Assistant-Designed-to-Help-Clients-Get-Answers-and-Take-Action/default.aspx
31. A Decade of AI Innovation: BofA's Virtual Assistant Erica Surpasses 3 Billion Client Interactions — Bank of America Newsroom, Aug 1, 2025. https://newsroom.bankofamerica.com/content/newsroom/press-releases/2025/08/a-decade-of-ai-innovation--bofa-s-virtual-assistant-erica-surpas.html
32. Bank of America Enhances EricaAssist with Generative AI — Bank of America Newsroom, Jul 21, 2026. https://newsroom.bankofamerica.com/content/newsroom/press-releases/2026/07/bank-of-america-enhances-ericaassist-with-generative-ai-to-help-.html
33. How Bank of America's Erica does the work of 11,000 people — American Banker, Jan 22, 2026. https://www.americanbanker.com/news/how-bank-of-americas-erica-does-the-work-of-11-000-people
34. The AI Superfans Companies Count On to Convert the Skeptics — The Wall Street Journal, Jul 8, 2026. https://www.wsj.com/cio-journal/the-ai-superfans-companies-count-on-to-convert-the-skeptics-5b301a90
35. Earnings Results Presentation, First Quarter 2026 — Citigroup, Apr 14, 2026. https://www.citigroup.com/rcs/citigpa/storage/public/Earnings/Q12026/2026psqtr1rslt.pdf
36. Unlocking Value with BNY's Enterprise AI Platform — BNY, Oct 20, 2025. https://www.bny.com/corporate/global/en/insights/unlocking-potential-enterprise-ai-platform-bny.html
37. How JPMorganChase democratized employee access to gen AI — American Banker, May 22, 2025. https://www.americanbanker.com/news/how-jpmorganchase-democratized-employee-access-to-gen-ai
38. Driving AI Use Cases and Adoption (Women in Banking 2025 session) — American Banker, Oct 21, 2025. https://www.americanbanker.com/video/wib-2025/driving-ai-use-cases-and-adoption-aligning-business-value-data-readiness-and-risk-management
39. Charles Schwab Launches AI-Powered Capability That Helps Investors Understand Portfolio Performance and Market Activity — Charles Schwab, May 5, 2026. https://pressroom.aboutschwab.com/press-releases/press-release/2026/Charles-Schwab-Launches-AI-Powered-Capability-That-Helps-Investors-Understand-Portfolio-Performance-and-Market-Activity/default.aspx
40. AI on the other end of the line (but you're not talking to a computer) — Charles Schwab, Feb 5, 2025. https://www.aboutschwab.com/mss/story/ai-on-the-other-end-of-the-line
41. Schwab Study Reveals RIA AI Adoption More Than Doubles - But Most Firms Still in Early Stages — Charles Schwab, Jan 22, 2026. https://pressroom.aboutschwab.com/press-releases/press-release/2026/Schwab-Study-Reveals-RIA-AI-Adoption-More-Than-Doubles---But-Most-Firms-Still-in-Early-Stages/default.aspx
42. Charles Schwab banking unit CEO to retire — Banking Dive, Jan 30, 2026. https://bankingdive.com/news/charles-schwab-bank-ceo-paul-woolway-retire-tyler-woulfe/811079
43. Marco Argenti gives Goldman Sachs coders an AI helper — American Banker, Jun 1, 2026. https://www.americanbanker.com/news/goldman-sachs-marco-argenti-is-3-on-the-most-innovative-people-in-finance
44. Northern Trust Collaborates with Industry Peers to Strengthen Data and AI Interoperability — Northern Trust, Jun 9, 2026. https://www.northerntrust.com/united-states/pr/2026/northern-trust-collaborates-with-industry-peers-to-strengthen-data-and-ai-interoperability
45. Fourth Quarter 2025 Presentation Materials — Northern Trust, Jan 22, 2026. https://northerntrust.com/content/dam/northerntrust/pws/nt/documents/earnings/2025/4q-2025-km040886-presentation.pdf
46. How Does Natural Language Processing Work? The Key Questions to Ask — Northern Trust Asset Management, Mar 1, 2026. https://ntam.northerntrust.com/united-states/all-investor/insights/investment-perspective-and-commentary/2026/how-does-natural-language-processing-work
47. Northern Trust Conference: NTRS Bets on ETFs, Alternatives, AI and Tokenization to Drive Growth — MarketBeat (Yahoo Finance), Feb 11, 2026. https://finance.yahoo.com/news/northern-trust-conference-ntrs-bets-080213324.html
48. Northern Trust (NTRS) Q4 2025 Earnings Transcript — Yahoo Finance, Jan 22, 2026. https://finance.yahoo.com/news/northern-trust-ntrs-q4-2025-153130711.html
49. The Most Powerful Women in Finance, No. 19, Ann Fogarty, State Street — American Banker, Oct 1, 2025. https://www.americanbanker.com/news/2025-the-most-powerful-women-in-finance-no-19-ann-fogarty-state-street
50. State Street second-quarter 2026 earnings presentation and medium-term targets (Form 8-K, Exhibit 99.3) — State Street (SEC filing), Jul 16, 2026. https://www.sec.gov/Archives/edgar/data/93751/000009375126000387/stt2q26earningspresentat.htm
51. Morgan Stanley Research Announces AskResearchGPT — Morgan Stanley, Oct 1, 2024. https://www.morganstanley.com/press-releases/morgan-stanley-research-announces-askresearchgpt
52. Morgan Stanley Wins Three 2024 Technology Awards — Morgan Stanley, Dec 1, 2024. https://www.morganstanley.com/press-releases/morgan-stanley-wins-three-2024-technology-awards
53. BNY's Robin Vince stays big on AI — Banking Dive, Oct 29, 2025. https://www.bankingdive.com/news/bnys-robin-vince-stays-big-on-ai/804139/
54. EP 4758506 A1: Translating a first coding language into a second coding language — Google Patents (EPO), Jun 17, 2026. https://patents.google.com/patent/EP4758506A1/en
55. State Street touts selection by Treasury, $1B cost-cut plan — American Banker, Jul 16, 2026. https://www.americanbanker.com/news/state-street-touts-selection-by-treasury-1b-cost-cut-plan
56. State Street's profit rises on robust fee income — Reuters, Apr 17, 2026. https://www.reuters.com/business/finance/state-streets-profit-rises-robust-fee-income-2026-04-17/
57. Exhibit 99.1: Third-Quarter 2026 Earnings News Release (Form 8-K) — State Street (SEC filing), Oct 14, 2026. https://www.sec.gov/Archives/edgar/data/93751/000009375126000592/a3q26earningspressrelease.htm
58. US11693917B2: Computational model optimizations — Google Patents (USPTO), Jul 4, 2023. https://patents.google.com/patent/US11693917B2/en
59. Northern Trust CEO dismisses reports of takeover talks — Banking Dive, Jul 24, 2025. https://www.bankingdive.com/news/northern-trust-ceo-dismisses-bny-goldman-sachs-takeover-reports-ogrady-warren-vince/753953/
60. Northern Trust joins banks lifted by IPOs, capital markets — American Banker, Jul 22, 2026. https://www.americanbanker.com/news/northern-trust-joins-banks-lifted-by-ipos-capital-markets
61. US 11,869,015 B1: Computing technologies for benchmarking (Northern Trust Corporation) — Google Patents (USPTO), Jan 9, 2024. https://patents.google.com/patent/US11869015B1/en
62. Lori Beer is turning JPMorganChase into an AI-native bank, and she's got $20 billion to do it — American Banker, Jun 1, 2026. https://www.americanbanker.com/news/chases-lori-beer-is-8-on-the-most-innovative-people-in-finance-ranking
63. The Most Powerful Women in Banking, #5, Lori Beer, JPMorganChase — American Banker, Oct 1, 2026. https://www.americanbanker.com/news/2026-the-most-powerful-women-in-banking-5-lori-beer-jpmorganchase
64. US20260010713A1 - Generative machine learning framework generating predictive results — Google Patents (USPTO), Jan 8, 2026. https://patents.google.com/patent/US20260010713A1/en
65. Citigroup says AI helps speed account openings and systems upgrades — Reuters, Apr 8, 2026. https://www.reuters.com/business/finance/citigroup-says-ai-helps-speed-account-openings-systems-upgrades-2026-04-08/
66. US12450494B1 - Validating autonomous artificial intelligence (AI) agents using generative AI — Google Patents (USPTO), Oct 21, 2025. https://patents.google.com/patent/US12450494B1/en
67. Schwab Plans to Use AI to Reach, Serve Less-Affluent Customers — Bloomberg, May 13, 2026. https://bloomberg.com/news/articles/2026-05-13/schwab-plans-to-use-ai-to-reach-serve-less-affluent-customers
68. Charles Schwab CEO Says AI Is Poised to Boost Wealth Managers — Bloomberg, Feb 11, 2026. https://bloomberg.com/news/articles/2026-02-11/charles-schwab-ceo-says-ai-is-poised-to-boost-wealth-managers
69. US 2025/0077917 A1: Systems and methods for iterative generation and plotting of machine learning outcomes on a user interface (Charles Schwab & Co.) — Google Patents (USPTO), Nov 20, 2024. https://patents.google.com/patent/US20250077917A1/en
70. Goldman Sachs taps Anthropic's Claude to automate accounting, compliance roles — CNBC, Feb 6, 2026. https://www.cnbc.com/2026/02/06/anthropic-goldman-sachs-ai-model-accounting.html
71. US20260072655A1: Context injection for artificial intelligence (AI) coding assistants — Google Patents (USPTO), Mar 12, 2026. https://patents.google.com/patent/US20260072655A1/en
72. US 2026/0051336 A1: System and method to enhance audio and video media using generative artificial intelligence (Morgan Stanley Services Group) — Google Patents (USPTO), Feb 19, 2026. https://patents.google.com/patent/US20260051336A1/en
73. The Man Behind Bank of America's $13 Billion Tech Agenda — The Wall Street Journal, Aug 20, 2025. https://www.wsj.com/articles/the-man-behind-bank-of-americas-13-billion-tech-agenda-3d770a2d
74. Bank of America's CTO champions a disciplined approach to AI — American Banker, Jun 1, 2026. https://www.americanbanker.com/news/bofas-cto-is-12-on-the-most-innovative-people-in-finance-ranking
75. US 12,705,363 B2: Vulnerability detection and mitigation using artificial intelligence in an electronic environment (Bank of America Corporation) — Google Patents (USPTO), Aug 11, 2026. https://patents.google.com/patent/US12705363B2/en
76. U.S. Treasury Announces Record Enforcement Actions Against Bank of America — U.S. Department of the Treasury, Oct 13, 2026. https://home.treasury.gov/news/press-releases/sb0657
77. OCC Imposes $750 Million Assessment Against Bank of America for Deficient BSA/AML Compliance — Office of the Comptroller of the Currency, Oct 13, 2026. https://www.occ.gov/news-issuances/news-releases/2026/nr-occ-2026-89.html
78. BofA fined $1.21 billion over AML — Banking Dive, Oct 13, 2026. https://bankingdive.com/news/bofa-fined-1-21-billion-over-aml-bsa-occ-treasury/832915
79. Earnings call transcript: Goldman Sachs tops Q3 2026 estimates as revenue rises — Investing.com, Oct 13, 2026. https://investing.com/news/transcripts/earnings-call-transcript-goldman-sachs-tops-q3-2026-estimates-as-revenue-rises-93CH-4947164
80. Goldman's Solomon wants 'clear human accountability' on AI — American Banker, Oct 13, 2026. https://americanbanker.com/news/goldmans-solomon-wants-clear-human-accountability-on-ai
81. JPMorgan Chase blocks outside AI agents like Muse, Instinct from directly accessing accounts — CNBC, Oct 13, 2026. https://www.cnbc.com/2026/10/13/jpmorgan-ai-agents-account-access.html
82. JPMorgan warns of risks to consumers who rely on AI agents — American Banker, Oct 13, 2026. https://www.americanbanker.com/news/jpmorgan-warns-of-risks-to-consumers-who-rely-on-ai-agents
83. Young Bankers to Manage AI Agents From Start, Goldman Exec Says — Bloomberg, Oct 8, 2026. https://bloomberg.com/news/articles/2026-10-08/young-bankers-to-manage-ai-agents-from-start-goldman-exec-says
84. Charles Schwab's Amy Ruegg: AI Can Make Investing Easier, but Human Expertise Remains Key — Traders Magazine, Oct 8, 2026. https://www.tradersmagazine.com/featured_articles/charles-schwabs-amy-ruegg-ai-can-make-investing-easier-but-human-expertise-remains-key/
85. JPMorganChase still tops AI ranking as big-bank lead widens — American Banker, Oct 6, 2026. https://americanbanker.com/news/jpmorganchase-still-tops-ai-ranking-as-big-bank-lead-widens
86. JPMorganChase still tops AI ranking as big-bank lead widens — American Banker, Oct 6, 2026. https://www.americanbanker.com/news/jpmorganchase-still-tops-ai-ranking-as-big-bank-lead-widens
87. The Most Powerful Women in Banking Women to Watch, #7, Debopama Sen, Citi — American Banker, Oct 1, 2026. https://americanbanker.com/news/2026-the-most-powerful-women-in-banking-women-to-watch-7-debopama-sen-citi
88. The Most Powerful Women in Finance, #19, Ann Fogarty, State Street — American Banker, Oct 1, 2026. https://www.americanbanker.com/news/2026-the-most-powerful-women-in-finance-19-ann-fogarty-state-street
89. Meet Charley, Schwab's New AI-Powered Assistant Designed to Help Clients Get Answers and Take Action — Charles Schwab (Yahoo Finance), Sep 30, 2026. https://finance.yahoo.com/technology/ai/articles/meet-charley-schwab-ai-powered-130000718.html
90. Citi Investor Services Reimagines Market Guide Platform, Harnessing AI to Deliver Timely Intelligence for Decision Makers — Citigroup (Business Wire), Sep 29, 2026. https://secure.businesswire.com/news/home/20260929289110/en/Citi-Investor-Services-Reimagines-Market-Guide-Platform-Harnessing-AI-to-Deliver-Timely-Intelligence-for-Decision-Makers
91. Northern Trust Corporation Form 8-K: Chief Financial Officer David W. Fox, Jr. plans to retire — Northern Trust (SEC filings), Sep 29, 2026. https://www.sec.gov/Archives/edgar/data/73124/000007312426000057/ntrs-20260928.htm
92. Northern Trust Survey: Asset Managers Sharpen Focus on Core Capabilities to Drive Growth — Northern Trust (Business Wire via Yahoo Finance), Sep 15, 2026. https://finance.yahoo.com/markets/stocks/articles/northern-trust-survey-asset-managers-080000689.html
93. State Street Announces Leadership for Alpha and Enterprise Operations and Technology — State Street (Business Wire via Yahoo Finance), Sep 14, 2026. https://finance.yahoo.com/technology/articles/state-street-announces-leadership-alpha-103000725.html
94. OpenAI launches financial tool for Wall Street bankers — American Banker, Sep 10, 2026. https://www.americanbanker.com/news/openai-launches-financial-tool-for-wall-street-bankers
95. Introducing ChatGPT for Financial Services — OpenAI, Sep 10, 2026. https://openai.com/index/introducing-chatgpt-financial-services/
96. OpenAI courts Wall Street with ChatGPT for financial services, developed with Morgan Stanley — Fortune, Sep 10, 2026. https://fortune.com/2026/09/10/openai-courts-wall-street-with-chatgpt-for-financial-services-developed-with-morgan-stanley/
97. Exclusive: How BNY's new AI tool Eliza is minting an army of disposable assistants — Fortune, Aug 15, 2024. https://fortune.com/2024/08/15/exclusive-how-bnys-new-ai-tool-eliza-is-minting-an-army-of-disposable-assistants-that-could-save-billions-in-labor-costs/
98. BNY unveils updated Eliza platform, says 98% of employees are trained on AI — Fortune, Sep 29, 2025. https://fortune.com/2025/09/29/bny-unveils-updated-eliza-platform-as-it-touts-that-majority-of-employees-use-ai-tools-daily/
99. Banking on AI: Firms such as BNY balance high risk with the potential for transformative tech — Fortune, Jun 26, 2025. https://fortune.com/2025/06/26/ai-banking-bny-eliza-personal-information/
100. 2026 Company Update Transcript - Chairman and CEO Q&A — JPMorganChase, Feb 25, 2026. https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/2026-company-updates/company-update-chairman-ceo-transcript.pdf
101. Schwab (SCHW) Q1 2026 Earnings Call Transcript — The Motley Fool (Yahoo Finance), Apr 16, 2026. https://finance.yahoo.com/markets/stocks/articles/schwab-schw-q1-2026-earnings-145425271.html
102. Charles Schwab Q4 Earnings Call Highlights — MarketBeat (Yahoo Finance), Jan 21, 2026. https://finance.yahoo.com/news/charles-schwab-q4-earnings-call-171437278.html
103. BNY: AI bet is paying off, client impact is 'measurable' — American Banker, Jul 15, 2026. https://www.americanbanker.com/news/bny-ai-bet-is-paying-off-client-impact-is-measurable
104. BNY Triples Hiring of Interns and Analysts to Tap AI Proficiency — Bloomberg, May 28, 2026. https://www.bloomberg.com/news/articles/2026-05-28/bny-triples-hiring-of-interns-and-analysts-to-tap-ai-proficiency
105. State Street (STT) Q2 2026 Earnings Call Transcript — Motley Fool (Yahoo Finance), Jul 23, 2026. https://finance.yahoo.com/markets/stocks/articles/state-street-stt-q2-2026-141337102.html
106. Northern Trust at Barclays Conference: Wealth Push Lifts Outlook (transcript) — Investing.com, Sep 14, 2026. https://ca.investing.com/news/stock-market-news/northern-trust-at-barclays-conference-wealth-push-lifts-outlook-93CH-4838293
107. Northern Trust Corporation Reports Second Quarter Net Income of $792.2 Million (earnings release, Exhibit 99.1) — Northern Trust, Jul 22, 2026. https://northerntrust.com/content/dam/northerntrust/pws/nt/documents/earnings/2026/q2-2026-release-a0716c.pdf
108. Goldman Sachs is piloting its first autonomous coder in major AI milestone for Wall Street — CNBC, Jul 11, 2025. https://www.cnbc.com/2025/07/11/goldman-sachs-autonomous-coder-pilot-marks-major-ai-milestone.html
109. JPMorgan Chase (JPM) Q2 2026 Earnings Call Transcript — The Motley Fool (Yahoo Finance), Jul 22, 2026. https://finance.yahoo.com/markets/stocks/articles/jpmorgan-chase-jpm-q2-2026-124458999.html
110. Bank earnings takeaways: from Goldman Sachs' SpaceX IPO fees to JPMorgan's AI job cuts — CNBC, Jul 14, 2026. https://www.cnbc.com/2026/07/14/jpm-bank-of-america-citi-bank-earnings-live-updates.html
111. Citi Second Quarter 2026 Earnings Call transcript — Citigroup, Jul 14, 2026. https://www.citigroup.com/rcs/citigpa/storage/public/2026psqtr2-transcript.pdf
112. Citi 2026 Investor Day Transcript - Consolidated — Citigroup, May 7, 2026. https://citigroup.com/rcs/citigpa/storage/public/investor-day/citi-ID26-full-event-transcript.pdf
113. Exhibit 99.3: Quarterly Update Presentation, 2Q 2026 (Form 8-K) — BNY (SEC filing), Jul 15, 2026. https://www.sec.gov/Archives/edgar/data/1390777/000139077726000071/ex993_quarterlyupdatepre.htm
114. BNY Collaborates with Google Cloud to Advance its Eliza AI Platform with Gemini Enterprise — BNY and Google Cloud (PR Newswire), Dec 8, 2025. https://prnewswire.com/news-releases/bny-collaborates-with-google-cloud-to-advance-its-eliza-ai-platform-with-gemini-enterprise-302634978.html
115. Agents for financial services — Anthropic, May 5, 2026. https://www.anthropic.com/news/finance-agents
116. BNY First Global Bank to Deploy AI Supercomputer Powered by NVIDIA DGX SuperPOD With DGX H100 — NVIDIA, Mar 18, 2024. https://blogs.nvidia.com/blog/bny-mellon-superpod
117. Charles Schwab and Anthropic to Bring Claude to Independent Registered Investment Advisors — Charles Schwab, Sep 14, 2026. https://pressroom.aboutschwab.com/press-releases/press-release/2026/Charles-Schwab-and-Anthropic-to-Bring-Claude-to-Independent-Registered-Investment-Advisors/default.aspx
118. Agentic AI Arrives in Advisor Offices — The Daily Upside (Yahoo Finance), Mar 11, 2026. https://finance.yahoo.com/news/agentic-ai-arrives-advisor-offices-040200118.html
119. BNY CEO says AI is a jobs creator, not a destroyer — American Banker, May 4, 2026. https://www.americanbanker.com/news/bny-ceo-says-ai-is-a-jobs-creator-not-a-destroyer

---

Canonical page: https://www.bankingnewsai.com/banks/bny-mellon/vs-peers
Part of [BankingNewsAI](https://www.bankingnewsai.com/). Markdown versions of every reference page: append `.md` to the page URL; index at https://www.bankingnewsai.com/llms.txt.