FCA begins live AI testing with UK financial firms

UK financial firms are working with the FCA to trial artificial intelligence in real-world markets, exploring its impact on services like debt resolution, advice and customer engagement.
UK financial firms are working with the FCA to trial artificial intelligence in real-world markets, exploring its impact on services like debt resolution, advice and customer engagement.

The UK’s Financial Conduct Authority has started a live testing programme for AI with major financial firms. The initiative aims to explore AI’s benefits and risks in retail financial services while ensuring safe and responsible deployment.

Participating firms, including NatWest, Monzo, Santander and Scottish Widows, receive guidance from FCA regulators and technical partner Advai. Use cases being trialled range from debt resolution and financial advice to customer engagement and smarter spending tools.

Insights from the testing will help the FCA shape future regulations and governance frameworks for AI in financial markets. The programme complements the regulator’s Supercharged Sandbox, with a second cohort of firms due to begin testing in April 2026.

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