One of the most consequential themes emerging from Money20/20 is a fundamental shift in how we think about AI and commerce. The conversation is moving beyond how AI can help consumers evaluate choices. Increasingly, the question is what happens when AI agents can act on those choices and transact on our behalf.
Consumers are already experimenting with agents across personal finance, insurance renewals, shopping and other everyday activities. The logical next step is a world in which agents do not simply recommend a product or service but have authority to complete the transaction. That progression could reshape how consumers, financial institutions and merchants interact.
The opportunity is significant. So are the questions.
For decades, the infrastructure supporting commerce has largely assumed that a human is behind a transaction. Identity verification, authentication and fraud detection were built around determining who the person is and whether the activity appears legitimate. Agentic AI challenges that model. The question becomes not simply, “Who are you?” but “Is this your agent, was it authorized to act, and is its action consistent with what you intended?”
There are distinctly different perspectives on how quickly the financial system should embrace that change.
The case for greater autonomy is compelling: less friction, more personalized experiences and entirely new models of commerce. Agents could eventually negotiate purchases, apply loyalty benefits or conduct machine-to-machine transactions without requiring human intervention at every step.
But there is also a strong case for caution. During a conversation featuring William Demchak, the Chairman and Chief Executive Officer of The PNC Financial Services Group, a more measured perspective emerged. Outside AI agents may be able to access information about transactions to help you manage your finances better, but allowing them to interact or transact introduces larger questions around fraud, liability and accountability. The discussion emphasized keeping humans involved and highlighted a defining challenge for financial institutions: How do you capture the benefits of agentic commerce without introducing unacceptable risk? This is the balance that is being sought in this newly emerging economy where agents are conducting business with other agents without human intervention.
That tension may define the next chapter of AI in financial services. The technology is advancing rapidly, but adoption will depend on the trust infrastructure surrounding it: verifiable identity, delegated authority, demonstrable intent, accountability and appropriate guardrails.
AI has spent the last several years getting better at helping us decide. The next era will be about allowing AI to act. The organizations that establish trust in that transition may ultimately shape what comes next.
The Schneider Downs Financial Services industry group helps financial institutions navigate an environment of relentless regulatory change and emerging technology risk. Our team is a regional leader in internal audit, risk advisory, IT risk and third-party risk management — supplementing your existing teams or serving as a full-service partner. To learn more, visit our Financial Services Industry Group page or contact us, or email us directly.
