Singapore banks tighten ML governance amid regulatory scrutiny
DBS, StanChart and Deutsche build model inventories and draw up standards around use cases
Banks in Singapore are building inventories of machine learning-based (ML) models in a bid to shore up internal governance of the technology’s use cases. The initiatives are partly a response to regulatory expectations around banks’ use of models that take advantage of such techniques, especially where they have the potential to impact customers.
“There is a need to create a central inventory of
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