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The Financial Stability Board published final guidance on Oct. 15 setting 12 sound practices for AI adoption in finance. The FSB calls the set a toolkit that firms can adapt, so the sources leave open how hard supervisors will press boards on it.
Reality
The Hartford will merge its Data and AI function into Technology under CIO Shekar Pannala on 2 November. Jeffery Hawkins, the chief data, AI and operations officer, leaves at year-end, and the three areas in his title now sit with two executives.
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Neonomics' existing shareholders put EUR 3.6 million into the Norwegian open banking firm after it cut operating costs by almost 50%. No outside investor joined, so the holders backing the restructured company are the ones who owned it before.
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Brio Platform and Losange Finance are merging as Stellé, pairing software that supports over 100 funds and 3,000 LPs with a fund administrator. Terms were not disclosed, and one deal between two Canadian firms is thin evidence of sector-wide consolidation.
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FinCEN and federal bank regulators said on 8 September that qualifying mobile driver's licences can meet customer identification rules. No bank has to accept them, so the work shifts to wiring the credentials into onboarding systems.
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SEC examiners named six recurring failures in adviser compliance reviews, the first being written policies that differ from actual practice. Red Oak, a compliance software vendor that sells continuous monitoring, argues that annual reviews alone miss that drift.
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Armadin's $255.5 million Series B and Jeeves's $110 million raise took 68% of fintech's $541 million week, by FinTech Global's count. The prior week's top two took a similar share of $1.2 billion, so the fall hit large and small rounds alike.
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