Legal regulation of financial bots: artificial intelligence as a participant in the payment process

Abstract

Artificial intelligence (AI) is becoming a key element of modern financial technologies, driving the automation and optimization of payment processes. The use of financial bots, which apply machine learning algorithms to perform financial operations, is becoming increasingly widespread in the banking sector, financial institutions, and among consumers. Due to their data processing speed and ability to analyze large volumes of information, financial bots ensure efficiency, accuracy, and convenience in executing payments, managing accounts, investing, and detecting fraud. However, the active implementation of AI in the financial sector is accompanied by a number of legal challenges. Questions arise regarding the legal personality of financial bots, legal liability for their actions, and the regulation of their activities. In this context, particular attention is drawn to issues related to user rights protection, algorithm transparency, and ensuring fairness in automated decision-making.