Ukrainian financial institutions are likely preparing to implement next-generation artificial intelligence technologies. In the future, routine user transactions will be able to be performed by autonomous algorithms, eliminating the need for customers to make payments themselves.
Ukrainian financial institutions are likely preparing to implement next-generation artificial intelligence technologies. In the future, routine user transactions will be able to be performed by autonomous algorithms, eliminating the need for customers to make payments themselves.
This became known during the Visa Payments Forum event, which is taking place in Paris. On one of the slides of the presentation of the international payment system, Ukrainian monobank and PrivatBank were listed among the partners of the Agentic Ready Program initiative. This program unites companies that adapt their infrastructure to cooperate with artificial intelligence, which will be able to carry out financial transactions on behalf of the account holder.
Autonomous algorithms are expected to take over routine financial tasks. This could be, for example, paying utility bills, which an AI agent will do instead of the user, or paying taxes.
The event also demonstrated how the data of such transactions would look in the banking system. Using the example of a test payment in a coffee shop for 14.50 euros, the developers showed that the transaction takes place without transmitting the buyer's name or card details. Instead, the AI agent uses a special digital token that completely replaces the bank card number, guaranteeing the security of the process.
Previously, Mastercard and PrivatBank made the first payment in Ukraine made by an AI agent . Mastercard Agent Pay can make transactions only after identification, registration, confirmation of intent and authentication.
