The world is currently in a state of unprecedented data availability. Within the financial sector, and indeed every other sector, organisations have found themselves with an abundance of data and information that they can use to better navigate the changing face of commerce. In many ways, this is incredibly helpful.
Continue Reading Financial Conduct Authority issues call for input on AI, synthetic data, and financial services innovation

Background

With the implementation of the Consumer Data Right (CDR) in the banking sector (known as ‘Open Banking’) well under way, the release of draft amendments to the CDR rules for the energy sector, and the continuing development of the framework for implementing the CDR in the telecommunications sector,
Continue Reading Consumer Data Right pipeline to cast a wide net

In July 2019, the FCA announced that it was partnering with the Alan Turing Institute to explore transparency and “explainability” of AI in the financial services sector. On June 11th 2021, the Alan Turing Institute published their report on “AI in Financial Services“. This FCA commissioned report
Continue Reading AI in Financial Services – The Alan Turing Institute

Written by Nichola Prescott, Associate, London

The Financial Conduct Authority has published a document setting out a list of points for financial services firms to consider when preparing for and evaluating third-party technology banking solutions.

Where a third-party provides services which are critical to a regulated firm’s business operation, it
Continue Reading FCA guidance for firms thinking of using third-party technology (off-the-shelf) banking solutions