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The roundtable was kindly hosted by Baroness Kingsmill, former Chair of Monzo, and brought together contributors to the research from across leading banks, fintechs, payments firms, and wealth managers.
Contributors to the research include senior leaders from Revolut, Monzo, Santander, Standard Chartered, Lloyds Banking Group, Stripe, Commerzbank, Allica Bank, and St. James’s Place.
The discussion focused on a central challenge identified in the report: financial services firms are deploying AI faster than oversight functions can govern it.
Participants discussed the capability gap facing risk and compliance teams, the practical challenges created by generative and agentic AI, and the absence of a shared operational standard for governing AI in the sector.
The room reflected one of the key findings in the report; that firms are solving the same AI governance problems independently. Without a common baseline, institutions are interpreting high-level regulatory expectations in isolation, making proportionate governance harder to achieve.
There was broad consensus around the need for practitioner-built, financial services-specific implementation guidance for AI governance - in particular, covering the capabilities, risks and controls relevant to agentic AI.
The next stage is to work with practitioners, regulators, and independent researchers to develop practical AI governance guidance for financial services.
