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National Westminster Bank Plc, commonly known as NatWest, is a major retail and commercial bank in the United Kingdom based in London, England. It was established in 1968 by the merger of National Provincial Bank and Westminster Bank. In 2000, it became part of The Royal Bank of Scotland Group, which was re-named NatWest Group in 2020.

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economy2 h ago

Banks including Bank of America and NatWest warn about risks of AI shopping agents

According to CNA Business, banks including Bank of America, NatWest, ING, ASB Bank, and Capital One warned that AI shopping agents pose risks of scams, fraud, and data-privacy breaches. The group stated that the technology is advancing faster than industry standards and consumer protections, noting that customers are unclear if AI will act in their interests.

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Banks including Bank of America and NatWest warn about risks of AI shopping agents

economy2 h ago

coda.news AI summary

British retailer John Lewis reported that searches originating from AI agents rose to 2.5 per cent from 0.3 per cent a year earlier.
The banks plan to discuss proposals with policymakers, including requiring disclosure when an AI agent is involved in a transaction and ensuring system interoperability.
The report highlighted specific risks such as AI agents requesting card details directly or steering users toward payment methods with weaker protections.

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CNA BusinessRead original ↗