Shift to Token-Based AI Pricing Drives Up Banks’ Costs

Banks adopted generative AI expecting automated customer service, risk management and internal operations to cut costs. In recent months, however, Anthropic, OpenAI and Microsoft have shifted their enterprise offerings from subscriptions to token-based pricing, causing expenses to rise with usage. PNC Financial warned that token costs could offset AI’s productivity gains.

American Banker reported on June 29, 2026, that Royal Bank of Canada’s (RBC) token usage had surged 500% in 2026 from 2025. The bank is seeking to control usage and bills without sacrificing productivity. The report did not disclose RBC’s actual spending, but the increase underscores the need for banks to establish cost-monitoring systems and usage policies.