AI transparency in financial services – why, what, who and when?

AI transparency in financial services – why, what, who and when?

The FCA and The Alan Turing Institute are working on a year-long collaboration on AI transparency. In this blog post, we explain the motivation for pursuing such a project and present an initial framework for thinking about...

Paying attention or paying charges? It’s all in the timing

Rules requiring banks to automatically provide customers with text alerts if they enter an unauthorised overdraft come into effect this month. The rules, aimed at helping consumers avoid...

Robo Advice – will consumers get with the programme?

Robo advice has been hailed as a solution for widespread and affordable financial guidance. But research into consumer attitudes suggests those who might benefit most from robo advice may be least...

Investing, insurance or gambling?

The distinction between investment, insurance and gambling is an essential one for policymakers and regulators. At the most basic level it is easy to see the differences between these products....

Anticipation and reaction: rule-making in dynamic markets

An FCA intervention to improve the insurance market has saved consumers millions of pounds. Behind the headline lies a complex interaction between regulations, insurance firms and consumers.

Financial Services – senior jobs are still mostly for the bo

Businesses have faced ever greater scrutiny and criticism over gender diversity – with few industries more in the spotlight than financial services. But despite bold targets and high-profile...

Removing our biases: some behavioural tools for the workplac

Some of the behavioural biases we are susceptible to are amplified and altered when we work as part of an organisation, which can lead to costly mistakes. Behavioural science can help us...