State Street exec urges responsible AI as bank weighs agent gateway
For the chief data officer at a regional bank
State Street expects the uses of artificial intelligence in finance to "multiply" in the coming years and said "responsible deployment" is vital, according to the South China Morning Post's report from the Global Financial Leaders' Investment Summit in Hong Kong, whose first day was Tuesday.1
The remarks came on the first day of the Global Financial Leaders' Investment Summit in Hong Kong, where executives from firms including Goldman Sachs, Morgan Stanley, JPMorgan, Pimco and Bridgewater spoke, SCMP reported.1 Bohra said agent-to-agent communication likely would not involve an agent from company A going to company B, because that would mean having "a foreign object sitting in your company".1
State Street was considering launching a gateway that would be "the only communication method where an agent can travel back and forth", Bohra said, according to SCMP.1
Bohra said agents would have a "predefined identity" with "only the entitlements that are necessary for that customer and for the processes to be undertaken".1
Bohra said State Street had more than 350 AI use cases, up from around 150 last year.1
He said it would be "ideal" for the industry to agree a standard for agent-to-agent communication, but "We are far from being able to do that at the moment"; State Street is working on a "technology architecture" for safe information exchange.1
Banks that let AI agents exchange data with counterparties will need to decide how to control identity and access at the boundary. Without an industry standard, each firm's gateway design could create separate integration and onboarding work for its counterparties and vendors.
Our take. State Street went from about 150 to over 350 AI use cases and is weighing its own agent gateway because no shared protocol exists. Help write the standard, or build a door you will rebuild later.
Action. Data governance: Inventory which vendor or counterparty AI agents touch bank data, and require each a defined identity and least-privilege entitlements.
From our records
- State Streetbank · latest Q3 2026 call: AI called a strategic enabler of growth and productivity (Oct 2026) · vendors Fenergo, Microsoft Copilot
- Goldman Sachsbank · latest Argenti: assume any agent could misbehave (Oct 2026) · vendors ChatGPT Enterprise, Claude, Gemini Enterprise · enforcement 4 actions since 2016; latest CFPB consent order, $45 million (Oct 2024)
- Morgan Stanleybank · latest Wealth technology CIO details client, service and adviser assist agents (Oct 2026) · vendors Quantexa, ChatGPT Enterprise, Claude · enforcement 1 action since 2016; latest OCC consent order, $60 million (Oct 2020)
- JPMorgan Chasebank · latest EMEA private bank uses AI for onboarding and research (Oct 2026) · vendors Mitek, Kasisto, ChatGPT Enterprise · enforcement 5 actions since 2016; latest CFPB civil action (lawsuit, dismissed with prejudice) (Dec 2024)