What happened?
TCC Group CEO Joe Norburn was recently featured in European Business Magazine, discussing how financial services firms are rapidly adopting AI across core operations. He notes that these integrations are being driven by commercial pressures and efficiency gains, often ahead of definitive regulatory guidelines.
Why does it matter?
While regulators like the FCA support technological innovation, they expect firms to prove they can maintain complete oversight, accountability, and robust governance as AI is embedded in decision-making. Norburn warns that the main challenge is not AI capability, but ensuring the quality, explainability, and auditability of the underlying data.
Generative AI alone is not suitable for regulated financial decisions. Firms must instead combine trusted, structured data with purpose-built predictive AI to scale automation safely while meeting regulatory standards.
Supporting sources
Frequently asked questions
Can generative AI be used for regulated financial decisions?
Generative AI alone is generally not suitable for regulated financial decisions. Firms require trusted, structured data and purpose-built predictive AI to maintain compliance.
What are regulators focusing on regarding AI?
Regulators are focused on how firms evidence outcomes, maintain governance, and ensure accountability and explainability in automated decisions.
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- BankingTCC helps retail banks, challenger banks, building societies and specialist banking providers strengthen governance, manage financial crime risk and demonstrate good customer outcomes. Our specialists support Consumer Duty, remediation, regulatory transformation, FCA intervention and compliance assurance programmes through advisory, managed services, specialist resourcing and technology-enabled compliance. With more than 25 years of experience supporting FCA-regulated firms, we help banks respond confidently to regulatory scrutiny while strengthening operational resilience and customer trust.
- General Insurance & ProtectionTCC helps insurers, brokers, MGAs and protection providers evidence fair value, strengthen customer outcomes and identify emerging customer harm. We assess product governance, claims performance, distribution oversight and vulnerability risks, helping firms create regulator-ready evidence, improve operational performance and demonstrate that products and services deliver value throughout the customer lifecycle.
- Payments & FinTechTCC helps payment institutions, e-money firms, FinTechs, challenger businesses and regulated technology providers strengthen compliance, manage regulatory change and demonstrate effective customer outcomes. From financial crime controls and APP fraud prevention to operational resilience, safeguarding and Consumer Duty governance, we help firms build regulator-ready frameworks that support growth without compromising control. For more than 25 years, TCC has helped FCA-regulated firms navigate evolving regulatory expectations with confidence.
- Wealth Management & Financial AdviceTCC helps wealth managers, financial advisers, networks, platforms and consolidators strengthen compliance, evidence customer outcomes and manage regulatory risk. Every engagement is designed to deliver practical improvements, stronger governance and regulator-ready evidence. For more than 25 years, we have helped FCA-regulated firms navigate regulatory change, supervisory reviews and business growth.
Reviewed by Joe Norburn, CEO – TCC Group