Banks are moving to curb surging token costs as they expand the use of artificial intelligence, after AI pricing models shifted from subscriptions to token-based billing. Executives at several banks have publicly flagged the growing burden. Banks are reassessing which models to apply to which tasks, opting for older or smaller models where possible. They are also considering open-source options, reusing stored answers and expanding in-house computing infrastructure. Some tasks may remain cheaper to handle with people.

South Korea\'s five major banks - KB Kookmin, Shinhan, Hana, Woori and NH NongHyup Bank - have checked the potential to improve inter-institution payment transactions globally. The banks joined Project Agora, a joint initiative by the Bank for International Settlements and the Institute of International Finance. Participants tested whether blockchain technology and smart contracts can cut costs and time for large cross-border payments while maintaining the legal nature of reserves and deposits.