Washington, US-based The Coalition for Financial Ecosystem Standards, an industry-led coalition focused on modernizing financial services, has issued a new report analyzing regulatory and policy opportunities related to agentic AI tools in payments, the organization said.

The report, titled "Agentic Payments: An Industry Approach to Liability and Authority," was developed in partnership with FS Vector, a leading strategic consulting firm for companies innovating in financial services and a major sponsor of CFES.

AI agents have become an increasingly common vehicle for interactions between customers and product or service providers.

This raises questions around the extent to which agents can act on behalf of an individual, as well as who is responsible for oversight.

The report details that these questions can be answered through three concepts derived from the common-law principal-agency relationship: Verification of an agency relationship, understanding the scope of authorization, and a framework for responsibilities for when things go wrong.

In doing so, the report demonstrates that existing payments law largely provides a workable foundation for governing agentic behavior, with an opportunity for industry to proactively help define a path forward where gaps exist.

CFES and FS Vector are issuing this report following a productive roundtable discussion which included a broad range of perspectives including banks, payment companies, and other key industry voices.

Leaders discussed the report's findings and initiated a collaborative effort to drive conversations about the importance of setting guardrails for agentic payments.

A webinar on the report will be hosted by FS Vector, CFES, and industry partners on Tuesday, June 9, at 1 pm ET.

The Coalition for Financial Ecosystem Standards is a member-led coalition whose mission is to empower policymakers and industry innovators to drive sound growth in financial services.

In partnership with FS Vector, CFES develops audit-ready standards for risk management and compliance in bank-nonbank partnerships.

CFES also focuses on frameworks and guidance that address the critical gaps in financial services resulting from where technological progress outpaces historical guidance.

FS Vector helps clients transform financial services and navigate complex regulatory environments. Its integrated approach combines advisory services, tech-enabled operational delivery, government relations and policy expertise.

FS Vector's embedded advisory experts serve as an extension of clients' teams, providing practical guidance on the most interesting and timely topics facing the industry.

FS Vector's network spans hundreds of financial services clients and partners, including fintechs, banks and other financial institutions, law firms, regtech providers, legislators, and regulators.