Consumers can request to speak to human instead of chatbot under new financial services rules

CONSUMERS NOW HAVE the legal right to talk to a human, rather than an automated chatbot, when buying financial products.

It comes as banks and other financial institutions are increasingly integrating AI into their customer service.

Under the new rules, clearer information must be provided to consumers before they sign up for financial products or services bought online or over the phone.

New restrictions have been put on marketing practices designed to influence or pressure purchasing decisions.

Speaking about the rules, which were signed into law yesterday, Tánaiste Simon Harris said they ensure consumer rights “keep pace with how people now access financial services”.

“Digitalisation has significantly changed the financial services market in Ireland,” he said.

“Whether it’s the right to speak to a real person instead of relying solely on an automated system, clearer information before making a decision, or an easier way to cancel an eligible contract, these are practical changes that will make a real difference for consumers.”

Harris added that, while the existing financial consumer protection framework “is robust”, the changes respond to the changing consumer and technological landscape.

They fall under the European Union’s Directive 2023/2673 regarding financial services contracts concluded at a distance.