BoE probes banks on machine learning use

Risk Live: watchdog wants to know “how prevalent” ML models are, say execs

Using machine learning for AML

Model risk managers say a recent survey by the Bank of England on the use of machine learning techniques within financial services firms could augur formal guidance around the use and deployment of such techniques where they are adopted by banks for modelling.

The BoE, along with the Financial Conduct Authority (FCA), sent a survey on AI and ML adoption to more than 200 firms in March. Questions ranged from promising applications for the technology, as well as barriers to adoption – along with

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: