FCA’s Mills Review Casts AI as Part of the Financial System, and Asks Whether the Rules Still Fit

For decades, banks built their wealth management business on knowing more than their clients. According to fincite, that advantage has already slipped away, and the industry is asking the wrong questions about what comes next. Friedhelm Schmitt, co-founder and CEO of fincite, argues that the debate around AI in wealth management is fixated on tools, […] The post Why AI could strip banks of t

Artificial intelligence is transforming how organisations operate, make decisions and interact with customers. According to Theta Lake, yet the productivity gains come tethered to serious obligations, and for firms deploying AI at scale, particularly across the RegTech and wider FinTech landscape, managing AI compliance risk has become a strategic imperative rather than a box-ticking exercise. [&#

Every fintech consultant is dealing with the same issue where analysts use public LLMs for sensitive financial spreadsheets. They do this because internal corporate tools feel incredibly clunky to use. I was reviewing some system architectures from Avenga to see how they resolve this without ruining productivity. Instead of banning AI tools outright the best path is building private by design alte