Recently featured in European Business Magazine, Joe Norburn, CEO at TCC Group (TCC, Recordsure and Momenta) says financial services firms are rapidly adopting AI across core operations, driven by efficiency and commercial pressure rather than regulatory certainty. While regulators such as the FCA support innovation, firms are increasingly expected to prove they can maintain oversight, accountability and governance as AI becomes embedded in decision-making.
Norburn warns that the biggest challenge is not AI capability, but ensuring the quality, explainability and auditability of the underlying data. He argues that generative AI alone is not suitable for regulated financial decisions, and that firms will need trusted, structured data combined with purpose-built predictive AI to scale automation safely while meeting growing regulatory expectations.
“Regulators are not asking firms to pause innovation, but they are increasingly focused on how outcomes are evidenced, how risks are identified and mitigated, and how accountability is maintained once AI is operating at scale.”
Joe Norburn, CEO, TCC Group
