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AI news ·

HKMA introduces ART framework for AI use in banking

Hong Kong’s central bank issued a framework for banks to govern artificial intelligence through accountability, risk management, and transparency.

1 min read
FinanceGovernmentInsuranceLegal

The Hong Kong Monetary Authority has introduced a framework to guide banks on the use of artificial intelligence, structured around accountability, risk and transparency. The initiative sets out a formal approach for financial institutions to integrate AI governance into their existing operations.

Under the framework, banks are expected to map the requirements to their model inventories, customer disclosures, monitoring processes and board oversight responsibilities. The mapping is intended to align AI deployment with established risk management and regulatory expectations.

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