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AI & Enterprise

"The algorithm did it" does not wash in audits: what are the design principles for finance AI?

Companies adopting AI for finance should build explainable designs that can withstand audits and regulatory checks rather than simply layering on general-purpose AI, an analysis said. Because generative AI is probabilistic while financial data demands factual accountability, explanations such as “the algorithm said so” are unacceptable in board meetings or audits. The approach calls for traceable, transaction-level audit trails, unified controlled data sources, real-time metadata tagging and phased pilots.

Finance

FSS urges internet banks to tighten IT internal controls to prevent repeat outages

South Korea's Financial Supervisory Service urged internet banks and other financial firms to strengthen IT internal controls and overhaul accident-prevention systems. The regulator told executives to tighten procedures for program changes, including impact analysis, testing and third-party verification, and to bolster controls throughout deployment. It also called for securing electronic finance infrastructure capacity, reviewing emergency response, and enhancing consumer protection measures after system failures while preparing for cyber threats.