Risk: Singapore banks tighten ML governance amid regulatory scrutiny

Banks in Singapore — DBS, StanChart and Deutsche — are building model inventories and drawing up standards around use cases. They are building inventories of machine learning-based (ML) models in a bid to shore up internal governance of the technology’s use cases. The initiatives are partly a response to regulatory expectations around banks’ use of models that take advantage of such techniques, especially where they have the potential to impact customers.

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