IBS Intelligence: AI governance and why evidence and accountability matter
AI governance scrutiny is increasing as firms need to evidence deployment, responsibility and customer outcome monitoring across financial services.
AI governance scrutiny is increasing as firms need to evidence deployment, responsibility and customer outcome monitoring across financial services.
The FCA’s mortgage priorities place renewed emphasis on evidence, outcome testing, responsible lending and the ability to understand customer experience across the journey.
The FCA’s payments priorities focus on innovation, Consumer Duty, financial crime, operational resilience and safeguarding, with boards expected to evidence readiness.
The FCA’s 2026 retail banking priorities require boards to evidence access decisions, Consumer Duty outcomes, fraud controls, resilience and data security.
FCA scrutiny is moving AI in financial services from capability to proof, requiring governance, auditability, accountability and outcome evidence as adoption scales.
How a major UK retail bank moved from reviewing fewer than 5% of mortgage sales to 100% coverage — cutting QA review time in half.
Joe Norburn says the Treasury Committee’s AI report marks a turning point for financial services firms, with governance, accountability and practical regulatory guidance becoming urgent priorities.
Financial services firms should prioritise Consumer Duty monitoring, responsible innovation, redress readiness, financial crime controls and ongoing advice evidence in 2026.
The FCA is encouraging responsible AI adoption as part of its growth agenda, while firms still need sector expertise, accountability and customer-focused controls.
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