Context
The FCA has announced, in a new web page as well as in Jessica Rusu’s speech, the second group of firms selected to join AI Live Testing. Eight new firms (Aereve, Coadjute, Barclays, Experian, Go-Cardless, Lloyds Banking Group (Scottish Widows), UBS and Palindrome) have been chosen by the FCA to live test AI applications to support safe and responsible deployment.
Key points to note and next actions
- In September 2025, the FCA published a Feedback Statement on the potential benefits, opportunities and challenges raised by our proposal for AI Live Testing.
- The FCA is working with its technical partner Advai, a London-based specialist in automated AI assurance, to provide AI Live Testing. This initiative helps successful applicants explore key questions around risk management and live monitoring to support the responsible deployment of AI for consumers and markets.
- The FCA will also publish a good and poor practice report for AI in financial services later in 2026 to support firms in the safe and responsible adoption of the developing technology.
- The announcement coincides with the publication of the FCA’s Innovation Insights report, which highlights how fintech innovation is evolving in the UK and what the regulator is learning from firms engaging with its innovation services.