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How to drive responsible AI adoption in the fintech industry

"Our history of creating innovative solutions, such as one of the first internet banks in the Nordics, is a testament to our commitment to pioneering change."

Jon Bremnes / June 12, 2023

Is AI a boon for software companies, or does it pose potential pitfalls?

In an era of fast evolving technology, Artificial Intelligence (AI) is revolutionizing the software development landscape. But behind this technology lie pressing questions around code review, intellectual property rights and ethics. Is AI a boon for software companies, or does it pose potential pitfalls that could undermine the very foundation of software development?

For Tietoevry Banking a leading Nordic powerhouse for financial software and payment services, these questions are of paramount importance. Tietoevry Banking's nearly 3,800 experts cater to over 400 financial institutions and banks, in the Nordics and globally. As a software-driven business, Tietoevry Banking is always pushing the boundaries of innovation and digital engineering. AI, already leveraged in solutions such as speedy and accurate processing of loan applications and preventing financial fraud, already add significant value for both companies and citizens. Yet, the rapid evolving technology also introduces a set of challenges we must address with utmost caution and responsibility, particularly when developing fintech solutions for millions of users worldwide.

This has become even more pressing with the introduction of ChatGPT, which changed the AI landscape for good. In this blog post, I will shed some light on how Tietoevry Banking is working with AI in a responsible and careful, yet adaptive and innovative way.

AI: A double-edged sword in software development

We find ourselves at the frontier of a remarkable shift in the software industry, courtesy of AI. Tools like Github Copilot and OpenAI’s ChatGPT, and now with tech giants like Google and Microsoft also entering the space, have significantly enhanced code review and solution creation processes. However, these tools are not to be considered authoritative for code development or solution design. We still heavily rely on our talented human developers for security assessment and quality assurance of any AI-assisted or generated code.

When it comes to Intellectual Property Rights, we tread carefully. At Tietoevry Banking, we manage a broad portfolio of IPRs across our diverse range of solutions designed to cater to our global customer base. Policies are in place to prevent unintentional exposure of our internal code during AI-assisted code reviews. We also modify any AI-generated code to safeguard our ownership of all IPRs related to our products and services.

The question of copyright for AI-generated content is complex and is unlikely to be legally settled for some time. Our approach is to ensure our content, though sometimes inspired by AI, is unique enough to be considered our own and communicates our distinctive tone of voice and expertise.

Ethical and responsible use of AI at the core

Ethics and responsibility lie at the core of our AI strategy. Guided by a clear AI policy and a set of pragmatic rules that define control principles, risk ratings, and governance levels, we are committed to creating responsible AI solutions. Every proposed AI solution undergoes an initial review to determine the appropriate governance level. We're also fully prepared to comply with upcoming regulations like the EU's AI Act.

Our history of creating innovative solutions, such as one of the first internet banks in the Nordics, is a testament to our commitment to pioneering change. We develop and host thousands of large-scale solutions for our banking customers, and AI plays a key role in several services. We already leverage AI and Machine Learning technologies in solutions to speed up loan application processes and preventing financial crimes by detecting fraudulent behaviour. As we further integrate AI and ML technologies into our solutions, we adhere to our policies ensuring transparency in decision-making, unbiased use of data, and ethical conduct.

AI offers near limitless possibilities, but it is essential to remember the importance of ethical, legal, and quality standards in harnessing its potential. As AI continues to redefine solution design and software development, our mission is to deliver innovative, reliable, and responsible solutions that address the challenges our customers face.

Please reach out if you would like to discuss this with us – I’m happy to hear your thoughts, potential worries, or ideas!

Jon Bremnes
CIO, Tietoevry Banking

Jon is the CIO of Tietoevry Banking. He previously held management positions in Norway and the UK with EY, Deloitte, and IBM. He holds a BSc Hons in Computer Science from University of Newcastle upon Tyne, UK.


Jon Bremnes

CIO, Tietoevry Banking

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