BNY Mellon and OpenAI Forge AI-Powered Banking Future

OpenAI has entered a multi-year partnership with BNY Mellon, one of the oldest financial institutions in the U.S., to integrate cutting-edge artificial intelligence into banking, reports PaySpace Magazine. Through this collaboration, BNY Mellon will gain access to OpenAI’s AI tools, including Deep Research, to enhance its capabilities. The bank is also advancing its in-house AI platform, Eliza, as part of its broader AI strategy.

This partnership provides OpenAI with valuable insights into how its AI models operate in complex, real-world financial scenarios. Sarthak Pattanaik, head of BNY’s AI hub, emphasized AI’s transformational potential, stating that it will eventually be embedded in every financial product and service.

As financial institutions increasingly adopt AI, cybersecurity concerns are also rising. Fraudsters now leverage AI tools for more sophisticated attacks, making user awareness crucial. Simple online searches, such as "how to know if my camera is hacked," can help individuals identify potential security threats.