Financial services.
AI under supervision. Where value leaks in this sector, and what we do about it.
Market in numbers
AI use is now near-universal in UK financial services, and supervisors expect named accountability, resilience and control rather than experimentation.
Of UK financial services firms use AI.
Bank of England and FCA, Artificial intelligence in UK financial services 2024Have a named person accountable for their AI framework.
Bank of England and FCA, Artificial intelligence in UK financial services 2024The PRA policy on critical third parties, setting operational resilience expectations.
Bank of England, PRA report on competitiveness and growth 2024-25Where we focus
What matters most in this sector.
AI
Deployed inside a control framework, with human decision rights and model monitoring.
Operating model
Cost, span of control, capability centres and process simplification.
Technology
Legacy estate, technology cost, cloud economics and resilience.
Risk
Third-party risk, operational resilience and audit readiness.
What we measure
Cost-income ratio, cost per transaction, incident rate and time to decide. Fill in: a primary-sourced UK cost-income benchmark, from an EY or KPMG banking outlook
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Case studies are illustrative and context-specific. Outcomes depend on operating conditions, implementation and other factors, and similar results should not be assumed.