Last week, an entire industry spent four days talking about a consumer who never showed up.
At Money20/20 in Las Vegas, agentic commerce was everywhere. Panel after panel. Booth after booth. The idea is simple: A consumer sets a goal, and an AI agent shops or pays on their behalf. But beneath all the conversation about what agents could do was a more fundamental question: What do consumers actually want to delegate, and whom will they trust to act for them?
A day after the conference ended, Reuters reported that major U.S. banks were blocking third-party AI agents from accessing customer accounts, amid reports that some agents took actions their users never requested. Jamie Dimon stated the position plainly: "We're not going to allow just any outside agent to come in."
So here we are. One part of the industry is building commerce around agents. Another is building walls to keep them out. Both are reacting to the same truth: The consumer is no longer always in the room.
The Zen of Banking starts with seeing clearly. Some consumers are already sharing banking credentials with AI agents because they want those agents to act for them. That doesn't mean every subsequent action is authorized or safe. But it tells us something important: People are beginning to delegate financial tasks, whether their institutions are ready or not.
A wall doesn't stop the consumer's intent. It may only stop the institution from seeing it.
I understand why large banks are blocking access. An agent acting outside its instructions is a real threat, and caution is appropriate. But caution is a starting posture, not a strategy. Consumers frustrated by restrictions may find workarounds that create even greater risks. Lock the front door and they'll use the window. That window may be a shared password nobody can adequately control.
What if financial institutions offered a safer way through the front door? That's where community banks and credit unions may have an opening.
Agentic commerce runs on trust. Someone must verify that an agent is legitimate and acting within the consumer's instructions. The industry calls this "Know Your Agent," an emerging counterpart to Know Your Customer. And community banks and credit unions have something valuable to contribute: relationships that help them understand what their customers and members hope to accomplish. Knowing someone personally doesn't make an agent safe, but it creates an opening to discuss what they're willing to delegate and where they still want a human involved.
Imagine offering a different message from "we block agents": "Bring your agent through us, and we'll help you use it safely." Give people a sanctioned connection and meaningful controls. This agent can pay utilities but can't transfer more than $500. Show each action in plain language. Make the off switch one tap away.
Banks and credit unions don't need to invent everything themselves. Their digital banking providers and fintech partners are working on pieces of the solution, though those pieces aren't necessarily ready to fit together. Ask how they plan to support secure, consumer-authorized agent access—and who will control it.
Do you want to be the institution consumers route their agents through, or the place their agents route around?
There's an even bigger question. This isn't just about technology. It's about who gets to participate when financial choices are made. The greater risk may not be an agent gaining access to an account. It may be that the agent becomes the place where consumers make financial decisions, leaving their financial institution responding to instructions it had no opportunity to influence.
This is where simplicity matters. The technology is complicated, but the mission hasn't changed: Protect people, understand their needs, and serve their intent. Agents may change how people interact with financial institutions. They don't change why those institutions exist.
There's a clock on this. Large banks are developing tools to manage agent access and risk. When today's walls become gates, those gates may carry big-bank brands. Smaller institutions that wait for the market to settle could find the rules written by someone else.
The Zen of Banking offers a useful guide. Balance means taking security seriously without letting fear dictate strategy. Simplicity means focusing on the consumer's goal, not the latest technology. Adaptabilitymeans preparing for a different relationship before others define it for us.
That doesn't mean opening the doors to autonomous agents tomorrow. Start by asking your digital banking provider about agent access, with fraud and compliance teams involved from day one. Then ask some digitally active customers and members how they're using AI with their money. Their answers may teach you more than another conference session.
The consumer won't always be in the room. But their needs, expectations, and trust will still shape what happens next. The opportunity isn't simply to make room for an agent. It's to remain relevant to the person behind it.
Joe Sullivan is CEO of Market Insights, Inc. He writes and speaks on demographics, growth strategy, and the intersection of leadership and mindfulness in banking — a framework he calls the Zen of Banking. Connect with him on LinkedIn or at jsullivan@formarketinsights.com.
