AI and Digital Transformation in Financial Services: Overview of Digital Regulatory Framework & (Data) Governance Impact
Digital transformation can be defined as the integration of new technologies into all areas of a company. This technological integration will ultimately imply a need to transform traditional business and (data) governance models. Similarly, artificial intelligence (AI) has been one of the most disruptive technologies of recent decades, with a high potential impact on business and people. AI is already rapidly influencing the financial sector with many potential benefits, such as enhancing financial services and improving regulatory compliance. As such, AI technology is used in sales and marketing, fraud and illegality prevention, credit evaluation and screening, chat-bot and etc.
In the EU, lawmakers have responded with a web of regulations aimed at ensuring ethical AI development and safeguarding data protection and improved governance, by developing eg. the Artificial Intelligence Act (the AI Act), the Artificial Intelligence Liability Directive (the AILD), the Digital Markets Act (the DMA), the Digital Operational Resilience ACT (The DORA) and the existing General Data Protection Regulation (GDPR) to name a few. However, these legal frameworks are not always fully aligned and may create some challenges and uncertainties for users, providers of AI systems, and data subjects whose personal data are processed through these systems.
The objectives of the course are :
- providing participants with a holistic introduction to the main foundations of EU digital regulation and some of the emerging technologies in practice (eg AI, Cloud etc.) in the financial services market, including the resulting required structural changes and impact on their organization , so that the course participants will understand better the «what», «why», «how» and «who» of what specific regulatory, compliance and operational issues they will be faced with in the near future;
- exploring the most important compliance and operational impacts on a financial services organization (data) governance structure, as well as focusing on the interplay between the different Digital Regulations themselves (eg EU AI Act, GDPR, Digital Market Act, Digital Services Act and Digital Operational Resilience Act etc.);
- enabling course participants to follow better and help them shape the debate around how to comply effectively with the upcoming digital regulatory overhaul, be it in their role in the financial sector as compliance officer, legal counsel , privacy officer, digital transformation officer or data (risk) governance professional.
Total price *
Members: € 330
Non-members: € 360
Partners/ BZB: € 330
Incompany: tailor-made, prices on request
* Price: service in the context of continuing professional training, exempt from VAT
CPD Hours
Banking: 3h general
Insurances: 3h general
Consumer credit: 3h general
Mortgage credit: 3h general
Compliance:
3h
Continuing Professional Development
Available dates
16/12/2024 - 09:00u - 12:30u - AI and Digital Transformation in Financial Services: Overview of Digital Regulatory Framework & (Data) Governance Impact
28/05/2025 - 09:00u - 12:30u - AI and Digital Transformation in Financial Services: Overview of Digital Regulatory Framework & (Data) Governance Impact
29/10/2025 - 09:00u - 12:30u - AI and Digital Transformation in Financial Services: Overview of Digital Regulatory Framework & (Data) Governance Impact
Please let us know you're interested in this training should there be no date available, the planned date does not suit you and/or this session is full. As soon as about 5 people are registered on the interest list, we will propose a new course date. Your registration on the interest list is free of charge and without any obligation.
Target group
This training course can be followed by multiple target groups:
- legal and regulatory professionals;
- compliance officers;
- fintech entrepreneurs;
- data Protection officers;
- risk Managers;
- financial analysts and consultants;
- data analysts;
- …
Required prior knowledge
Advanced level training: this training requires a general basic knowledge of the subject.
Programme
CONTENT
In this course, we will :
- Give a clear holistic overiew of current and planned (EU) Digital Regulations.
- Explain how these Digital Regulations interact and what their impact is (will be) on the financial services sector and its digital transformation initiatives.
- Provide examples in practice of the fields in which AI is used, along with the varying impact that this has on a financial services organization and its internal (data) governance framework.
- We will focus on the challenges that AI poses when it comes to the implementation of AI governance mechanisms and controls balancing vertical and horizontal approaches in (data) risk management.
- Specific attention will be put on some of the most pertinent challenges associated with regulating the use of AI such as eg ensuring transparency, accountability, responsibility, and the ability to make revisions, as well as preventing hidden discrimination, culiminating in a need for the adoption of «Responsible AI by design» processes and governance frameworks.
PRACTICAL INFORMATION
- Duration: ½ day of training (3 class hours)
- Hours: 09:00 to 12:30
- Location: Febelfin Academy: Phoenix building, Koning Albert II-laan/Boulevard du Roi Albert II 19, 1210 Brussels
- Language: This training will be given in English
Methodology
You follow a ‘Classroom training’ face-to-face in a group. You, the other participants and the teacher are all present in the same classroom at an agreed time. There is an opportunity for interaction and feedback, both from the participants to the teacher and vice versa. The teaching material consists as a basis of a presentation via the MyFA learning platform, supplemented with various other items (such as digital syllabus, presentation, audiovisual fragments, etc.).
Training material: PowerPoint presentation
Teachers
Erik Bert E Luysterborg
Compliance & audit
