Machine Learning/artificial intelligence in credit risk analysis and AML. A round table discussion with Brad Carr (Institute of International Finance), Srini Sundaram (Aire) and Peter Snowdon (Norton Rose Fulbright).

Held on Wednesday, June 27, 2018, 8.30-10.00

With support from Norton Rose Fulbright


  • Brad Carr (Institute of International Finance)
  • Srini Sundaram (Aire)
  • Peter Snowdon (Norton Rose Fulbright)



In March this year, the Washington-based IIF (which represents the interest of global banks, and which has been in the forefront of technological and regulatory change over the last 30 years) published an important report into machine learning and credit risk. This had a restricted circulation, but last month a detailed public summary was published highlighting the key themes.

Not surprisingly the IIF found that machine learning/AI techniques are increasingly important – and that their use is “bringing greater accuracy, efficiency in model development, and new ways to address data deficiencies and model biases.” To a large extent, use of ML/AI is driven by the needs of the risk management function, but it also reflects the increasing digitization of what the IIF calls “the front line”. Whatever, the survey on which the report is based is extraordinarily comprehensive, and the findings are (for the moment at least) definitive. We are therefore delighted that Brad Carr, the principal author of the report, has agreed to take us through the findings – and to point the way forward. He is the senior director at the IIF for digital finance regulation and policy. And has even led the institute’s work on Basel and IOSCO consultations on corporate governance, credit risk management and derivative regulation. He joined the IIF in 2014, from National Australia Bank.

This is (obviously) a highly technical area, and we are therefore equally pleased to have two respondents who can hold their own with Brad:

  • Srini Sundaram is the co-founder and chief risk officer of Aire, a ML-based start-up that has provided credit intelligence to over $10bn of retail loan applications. He is also the founder and CEO of Agvesto, a platform for the agricultural insurance and bond markets.
  • Peter Snowdon is a consultant in the financial services practice at Norton Rose Fulbright, and the author of the E-commerce chapter in Butterworths Regulation Law Service and of the money laundering chapter of Financial Services Law. Prior to joining the firm, he was part of the general counsel’s office at the FSA.

(And we expect to announce a third additional panellist very shortly.) 

While I doubt that this round-table will be all plan sailing, ML/AI is undoubtedly going to figure largely in the development of financial institutions and markets – and its application to credit scoring and AML (among others) is going to be revolutionary. So, come along and glimpse the future – only please tell us first, by emailing or calling the CSFI on 020 7621 1056. As usual there will be coffee and buns to ease the pain.

Sincerely yours,

Andrew Hilton