FCA collaborates with companies for safe AI testing.

2025-12-05

The UK Financial Conduct Authority (FCA) has embarked on a new initiative to test AI in collaboration with several major companies.

Focus and Goals

This project primarily aims to explore the benefits and risks associated with AI technology. As a pioneering effort in the financial sector, it seeks to support UK firms that wish to harness AI within financial markets.

The participating firms receive tailored support from both the FCA’s regulatory team and its technical partner Advai, aiding them in developing, assessing, and deploying safe and responsible AI systems.

Participating Companies

The initial group includes Gain Credit, Homeprotect (part of the Avantia Group), NatWest, Monzo, Santander, Scottish Widows (a part of Lloyds Banking Group), and Snorkl.

Through AI testing, companies can address critical issues related to evaluation frameworks, live monitoring governance, and risk management, ensuring that AI is deployed both safely and responsibly for consumers and financial markets.

Statement from the FCA

Jessica Rusu, the Chief Data, Information, and Intelligence Officer at the FCA, commented on the initiative, emphasizing its role in supporting companies prepared to use AI in live markets. The FCA aims to work closely with firms and Advai to ensure secure deployment of AI across the UK.

AI Live Testing Service

This project is intended to help the FCA understand how AI could impact UK financial markets and inform its future strategies regarding technology. It complements the Supercharged Sandbox, a collaborative effort with Nvidia that allows firms to experiment with AI during the discovery phase, providing enhanced data access, technical support, and regulatory assistance.