Legal Design Through AI in Banking Contracts

Consumer protection in banking is a particularly relevant issue, especially in light of the increasing complexity of banking transactions and the related legal reference cases. For this reason, the adoption of pre-contractual disclosures and contractual texts as complete as possible has been mandated to enable the consumer to be fully aware of the characteristics of the contractual relationship. This has led to the creation of contracts that are particularly detailed and full of content, with graphics designed to reduce the size of the relevant documents but inadequate to allow an understanding of these documents. It is therefore necessary to change the paradigm in the drafting of contractual texts and pre-contractual disclosures through the adoption of legal design methodologies. In particular, added value could be provided by adopting AI and metrology techniques for measuring the level of clarity of contractual texts and subsequently creating a more user-friendly version of these.