AIR White Papers

Financial regulatory bodies face significant challenges due to rapid technological evolution and increasing market complexity. Authored by AIR Chief Innovation Officer Nick Cook, this paper addresses key aspects of technology acquisition, data management, and the cultural and organizational shifts necessary for successful digital transformation.

In March 2024, AIR partnered with the Aspen Institute to convene two roundtables with a cross-section of digital identity experts. This brief summarizes the dialogue and next steps, and extends an invitation to engage with this work.

Authored by AIR Senior Advisor and former global regulator F. Christopher Calabia, this paper examines the transformative potential and risks associated with the deployment of generative artificial intelligence (GenAI) in the financial services sector.

The paper looks at a new crypto token that incentivizes the removal of carbon dioxide from the atmosphere at gigaton scale using direct air carbon capture and storage (DACCS).

The paper argues that MRM guidance, given its broad, principles-based approach, continues to provide an appropriate framework for assessing financial institutions’ management of model risk, even for Risk AI/ML models.

The paper, released with the National Bankers Association and Visa Economic Empowerment Institute, lays out a case for using a shared-technology model to help Minority Depository Institutions (MDIs) enhance digital capability and product offerings.

Written by former Office of the Comptroller of the Currency Chief Counsel and AIR Advisory Council member Amy Friend, this paper seeks to analyze and identify the key drivers of the success of the FCA’s innovation initiatives. We at AIR hope it will be an invaluable source of both information and inspiration for the FCA’s regulatory peers throughout the world.

Financial regulators face an enormous challenge: the industry they oversee is digitizing so fast that it’s hard for them to keep pace. They will have to convert to digital age methods or run the risk of failing to detect risks and problems in the financial system. This paper is a Request for Comment (RFC) calling for gradual but urgent conversion of the financial regulatory system to a “digitally-native” framework that equips regulators with the data and analytical tools they need to protect consumers, combat financial crime, and assure financial stability and resilience.