AI Compliance for Fintech Companies
Comply with EU AI Act, FCA AI guidance, CFPB, and GDPR without a dedicated compliance team.
Fintech companies use AI in credit scoring, fraud detection, customer onboarding, trading algorithms, and robo-advisory. These use cases are among the most heavily regulated under the EU AI Act (Annex III), FCA AI guidance, CFPB anti-discrimination rules, and Equal Credit Opportunity Act (ECOA). Aegis Firma helps fintech teams manage their AI compliance obligations from $79/month.
AI Compliance Challenges for Fintech
Regulations That Apply to Fintech
EU AI Act — High Risk Credit & Insurance
AI systems used for creditworthiness evaluation (Annex III §5(b)) or life/health insurance risk assessment and pricing (Annex III §5(c)) are classified high-risk under the EU AI Act. Investment-decision AI and general fraud-risk scoring are not covered by Annex III point 5 itself. Providers must document AI models, conduct bias assessments, and ensure human oversight.
CFPB / ECOA
AI-driven credit decisions must be explainable under ECOA adverse action notice requirements. The CFPB has issued guidance on algorithmic credit scoring fairness.
GDPR Article 22
Automated credit decisions and financial profiling under GDPR require Article 22 compliance — opt-out rights, meaningful information about AI logic, and human review options.
FCA AI Guidance (UK)
FCA expects regulated firms using AI to manage model risk, explain decisions, and maintain governance documentation. Senior Managers and Certification Regime (SMCR) applies to AI accountability.
How Aegis Firma Helps Fintech
Common Use Cases
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Frequently Asked Questions
Is our credit scoring model high-risk under EU AI Act?
If your AI system evaluates creditworthiness (Annex III §5(b)) or determines life/health insurance premiums (Annex III §5(c)) affecting EU consumers, it is almost certainly high-risk under the EU AI Act. Investment-decision AI isn't covered by Annex III point 5 specifically — check whether MiFID II conduct rules or a different high-risk category applies instead. High-risk obligations include: technical documentation, post-market monitoring, human oversight procedures, and registration in the EU database.
What is the CFPB's position on AI-driven credit decisions?
The CFPB requires adverse action notices that explain AI credit decision factors in a manner the applicant can understand. Vague "algorithm-based" explanations are not sufficient. The CFPB has also issued guidance indicating that ECOA applies to AI models regardless of whether disparate impact was intentional.