AI in banking & finance transactions

This overview is a guide to the Banking & Finance content within the AI in banking and finance transactions subtopic, with links to the appropriate materials.

An introduction to artificial intelligence (AI) and machine learning (ML)

The technology

While sometimes assumed to be incomprehensible to anyone without a specialism in computing, AI is built on relatively simple mathematical concepts. Even today, when it has advanced into more computational complex algorithms, it is important to remember that it is just that, mathematical concepts implemented in software and written by a person.

For an introduction to AI and ML technology, see Practice Note: Artificial intelligence and machine learning—an introduction to the technology, which considers common definitions and terminology, looks at neural networks and deep learning, explores common uses and applications of AI and ML and considerations for selecting or assessing ML algorithms.

The

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Latest Banking & Finance News

UK sanctions regime review lacks detail on beefing up meager enforcement

MLex: UK government plans to consolidate sanctions lists and speed up enforcement of civil-law breaches will be welcomed as aims, but the new plan fails to grasp the nettle of patchy enforcement. The latest look at the sanctions regime appears largely silent on how to improve matters: The government said it would look to increase the deterrent effect of enforcement, but appeared not to mention any new resources for investigators.

IOSCO publishes final reports on finfluencers, online imitative trading practices, and digital engagement practices

The International Organisation of Securities Commissions (IOSCO) has published three final reports on finfluencers, online imitative trading practices, and digital engagement practices (DEPs) as part of the third wave of its Roadmap for Retail Investor Online Safety. The reports identify a set of good practices for regulators and other stakeholders to consider in managing potential risks in the evolving retail market. They are a key element of a strategic initiative launched in November 2024 to protect retail investors from online fraud, excessive risk-taking and misinformation in the digital financial marketplace.

ICMA publishes position paper opposing uniform NBFI macroprudential framework

The International Capital Market Association (ICMA) has published a position paper, opposing the implementation of a uniform macroprudential framework for non-bank financial intermediaries (NBFIs). The paper argues existing EU regulations for asset managers and funds are sufficient, while recommending improved cross-border regulatory data sharing and market surveillance. ICMA is particularly opposed to imposing mandatory central clearing for bonds and securities financing transactions. Instead, the association advocates for broadening collateral eligibility and removing the barriers that hinder voluntary central clearing access.

BoE investigates Bank of London as EY raises red flags

Law360, London: Bank of London has said it is under investigation by the Bank of England's (BoE) regulatory arm, with the risk that an unfavourable outcome could affect whether it ultimately stays in business.

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