Among the recommendations are the introduction of suitability requirements for AI-driven financial services, and add-on capital buffers based on AI algorithms.
August 17, 2021Common themes on AI governance create scope for the development of international guidance or standards, says a new paper from the Financial Stability Institute.
August 4, 2021AI and machine learning make it easier for firms to spot suspicious behavior and reduce false positives, but adoption is not without challenges, says Ashish Rai.
August 2, 2021The FSA's Hiroshi Ozaki said the banking sector is planning to deploy a shared transaction monitoring and screening system for AML/CFT across the industry.
July 23, 2021MAS invites fintechs, solution providers and FIs to submit innovative solutions to help validate the fairness of AI solutions for selected banking use cases.
July 13, 2021Financial firms offering services using AI technologies will be required to have controls in place that ensure fairness to prevent consumer discrimination.
July 11, 2021Algorithmic trading and high-frequency trading were generally not found to have a deteriorating impact on market liquidity or increase market volatility.
June 29, 2021Regulators should leverage existing frameworks that largely already address and mitigate the key risks associated with the increased use of AI.
June 25, 2021The so-called "data-sharing hub" will allow data sharing between trusted institutions in a way that ensures that the source data can be used but not seen or moved.
June 2, 2021Measures for detecting proliferation financing risk are designed to help identify sanctions evasion and uncover the beneficial owners of corporate entities.
May 19, 2021