back Back

CBiBank to offer AI-enabled bank accounts

By Delisha Fernandes

June 09, 2023

  • AI
  • AI Algorithms
  • AI Chatbots
Share

CBiBankCBiBank, a US-based commercial bank, has recently announced its unique ability to establish international bank accounts for an array of automated systems powered by artificial intelligence (AI). This initiative positions CBiBank as the commercial bank worldwide to offer account services to AI entities.

CBiBank provides two avenues for AI to open accounts. One allows AI to set up an account autonomously, while the other involves opening a trust account. Regardless of the chosen method, the AI manages the entire process autonomously, including account setup and handling subsequent transactions.

The bank endorses AI’s capability to form trusts, which could serve as beneficiaries, thus creating a potentially self-sufficient cycle for AI. This innovative system could ideally establish a self-contained, efficient ecosystem for AI.

As artificial intelligence technology evolves, it is become an integral “partner” in contemporary human life. Demonstrating this, AI practice blogger Jackson Greathouse Fall used the AI ChatGPT to launch a company with a modest capital of $100 and entrusted it with business growth and expansion. As a “human liaison”, Fall implements orders from the AI. Last month, this ChatGPT-driven company, a sustainable e-commerce site named Green Gadget Guru, earned $130 in revenue.

As we advance, a significant gap is anticipated in the financial services sector, where AI’s involvement will be crucial. CBiBank has proactively taken the lead to tap into this AI financial services market. Currently, several AI development firms are already exploring possible avenues with the bank to leverage these new opportunities.

Previous Article

June 09, 2023

American Express & Plaid streamline digital finance options for customers

Read More
Next Article

June 09, 2023

Kvika Bank taps Enfuce to modernise payment services in Iceland

Read More






IBSi Daily News Analysis

cloud,

July 19, 2024

AI

SMEs leverage cloud to gain competitive edge, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Strands & Perx Technologies to elevate financial services across APAC & MEA

Read More

July 22, 2024

Bud expands data intelligence platform with new office in Lithuania

Read More

July 22, 2024

GoTo launches Dira, the AI-based FinTech voice assistant in Indonesia

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024