The FCA has further underscored its regulatory commitment to fostering the safe and effective implementation of artificial intelligence (AI) within financial services.

Speaking at the Innovate Finance Global Summit (IFGS) earlier this week, Jessica Rusu, the FCA’s chief data, information and intelligence officer, said: “Our goal is to give firms the confidence to invest in AI in a way that drives growth and delivers positive outcomes for consumers and markets, while at the same time offering us insights into what is needed to design and deploy responsible AI.”

This message reinforces the FCA’s position that it is seeking to enable the adoption of AI in a way that aligns with its core objectives and five-year strategy.

Regulatory alignment with innovation
The regulator’s strategy outlines a clear ambition – to position the UK as a global hub for responsible technological growth. By actively engaging with firms through regulatory sandboxes, tech sprints, and tailored guidance, the FCA is working to ensure that AI deployment is both ambitious and accountable.

One of the key pillars of this strategy is enhancing supervisory intelligence. The regulator has adopted AI in its Supervision Hub, using predictive models to assist agents with real-time data and AI-driven voice bots to direct consumers efficiently.

Bridging the gap between innovation and risk
Joint research by the FCA and Bank of England found that 75% of financial services firms already use AI primarily for internal efficiencies. As regulatory scrutiny increases, firms must begin to consider how AI solutions also serve end-consumers and market stability.

There is a growing expectation from the regulator that firms must demonstrate not only technological competence but also the ability to evidence oversight, auditability and risk mitigation.

Partnering for compliance and consumer outcomes
Against this regulatory backdrop, selecting an AI solution grounded in compliance expertise is critical. TCC’s technology business, Recordsure, was developed in collaboration with our regulatory specialists and is purpose-built for regulated industries.

Unlike generic AI solutions, Recordsure’s proprietary models are trained on sector-specific data, including complex customer interactions and documentation. This contextual focus enables more accurate and auditable outputs, which is crucial as firms navigate expectations around AI.

Preparing for the regulatory road ahead
With increasing regulatory interest in the governance of AI, financial service firms must begin preparing for a future where transparency, accountability, and ethical AI are not optional but mandated. Now is the time to align your AI strategy with regulatory expectations.

Contact us to find out how TCC’s expertise and Recordsure’s innovative AI can help your firm stay ahead of the curve.