What changed

MOTION FOR A EUROPEAN PARLIAMENT RESOLUTION

P10_TA(2025)0286

on the impactImpact of artificial intelligence on the financial sector

(2025/2056(INI))

Committee on Economic and Monetary Affairs

PE773.328

European Parliament resolution of 25 November 2025 on the impact of artificial intelligence on the financial sector (2025/2056(INI))

The European Parliament,

– having regard to the report of 14 November 2024 by the Financial Stability Board entitled ‘The Financial Stability Implications of Artificial Intelligence’,

– having regard to Regulation (EU) 2024/1624 of the European Parliament and of the Council of 31 May 2024 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing1,financing,

– having regard to Regulation (EU) 2024/1689 of the European Parliament and of the Council of 13 June 2024 laying down harmonised rules on artificial intelligence and amending Regulations (EC) No 300/2008, (EU) No 167/2013, (EU) No 168/2013, (EU) 2018/858, (EU) 2018/1139 and (EU) 2019/2144 and Directives 2014/90/EU, (EU) 2016/797 and (EU) 2020/1828 (Artificial Intelligence Act)2,Act),

– having regard to Regulation (EU) 2022/2554 of the European Parliament and of the Council of 14 December 2022 on digital operational resilience for the financial sector and amending Regulations (EC) No 1060/2009, (EU) No 648/2012, (EU) No 600/2014, (EU) No 909/2014 and (EU) 2016/101132016/1011 (Digital Operational Resilience Act),

– having regard to Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation)4,Regulation),

– having regard to Directive (EU) 2016/97 of the European Parliament and of the Council of 20 January 2016 on insurance distribution5(Insurancedistribution(Insurance Distribution Directive),

– having regard to Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Regulation (EU) No 648/20126(Markets648/2012(Markets in Financial Instruments Regulation),

– having regard to Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU7(Markets2011/61/EU(Markets in Financial Instruments Directive),

– having regard to Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/20128(Capital648/2012(Capital Requirements Regulation),

– having regard to Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC9(Capital2006/49/EC(Capital Requirements Directive),

– having regard to Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers and amending Directives 2003/41/EC and 2009/65/EC and Regulations (EC) No 1060/2009 and (EU) No 1095/2010101095/2010 (Alternative Investment Fund Managers Directive),

– having regard to Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II)11,II),

– having regard to Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS)12,(UCITS),

– having regard to Directive (EU) 2015/2366 of the European Parliament and of the Council of 25 November 2015 on payment services in the internal market, amending Directives 2002/65/EC, 2009/110/EC and 2013/36/EU and Regulation (EU) No 1093/2010, and repealing Directive 2007/64/EC132007/64/EC (Payment Services Directive),

– having regard to its resolution of 3 May 2022 on artificial intelligence in a digital age14,age,

– having regard to Rule 55 of its Rules of Procedure,

State of AI adoption in financial services

1. Notes the broad and diverse adoption of AI across the EU financial services sector, with financial institutions, which have been using classical machine learning for an extended period, now gradually experimenting with the use of generative AI, including large language models (LLMs) and other foundation models, as a support tool; stresses that the majority of current AI use cases aim to streamline back-office processes, with most applications representing low-hanging fruit rather than high-risk innovation; notes, however, that the use of AI to evaluate the creditworthiness of natural persons or establish their credit score, currently defined as high-risk in the AI Act, is prevalent and increasing; stresses that the deployment of fully autonomous AI systems in the financial sector should have human oversight15;oversight; notes that financial institutions continue to explore use cases involving GPAI models, the greater complexity of which entails higher operational and compliance risk, but also notes that these applications largely remain in the testing phase;

2. Believes that AI is a major opportunity for EU financial institutions to develop more innovative products, streamline operations and improve competitiveness on a global scale; highlights that the use of AI in financial services has the potential to bring societal benefits, including more effective fraud detection and prevention, anti-money laundering checks and sanctions checks, customer support, transaction monitoring, personalised financial advice, environmental, social and governance data gathering, analysis and reporting, trading models and strategies, regulatory compliance assistance, market surveillance and abuse monitoring; considers that the use of AI in the financial sector should strike a balance between innovation and competitiveness on the one hand, and risk management, consumer protection and financial stability on the other hand; stresses that the benefits of AI use in financial services should be passed on primarily to end customers, for example through lower prices, better coverage, improved financial advice, greater financial inclusion and access, and enhanced financial literacy;

Regulatory landscape for AI in financial services

11. Stresses that the financial services sector is highly regulated, subject to multiple pieces of sectoral legislation at both national and EU level, requiring actors to manage risks in a variety of areas including data protection, data lineage, data quality, data governance, operational resilience, outsourcing, model risk, discriminatory outcomes, and market and credit risk, which together form the framework for AI deployment and governance in the financial services sector16;sector; emphasises, however, the importance of continuously monitoring regulatory gaps and evolving use cases of AI in finance, especially with a view to safeguarding consumer rights and the right to privacy;

12. Notes that the EU has adopted a more risk-based approach to AI regulation than other jurisdictions; underlines that, while this may create challenges for the adoption and development of AI in financial services, it also offers an opportunity to build trust and support innovation, provided that the framework is clarified and implemented in a way that fosters legal certainty, proportionality and market confidence; recognises that the AI Act has not yet been fully implemented and that its practical implications have not yet been assessed;

Recommendations to ensure responsible use of AI in financial services

17. Regrets that the EU is lagging behind in terms of AI innovation and investment, as illustrated by the EUR 33 billion in venture funding received by EU companies developing foundational models between 2018 and 2023, compared to over EUR 120 billion received by their US counterparts17;counterparts; believes that the financial services sector, as the largest spender on ICT services and products, has the potential to act as a catalyst in mobilising private investment in AI; calls, against the backdrop of slow AI investment in the EU’s financial sector, for an ambitious proposal to jump-start the European venture capital scene as part of the savings and investments union;

18. Calls on the Commission to provide clear and practical guidance, developed in consultation with the European and national supervisory authorities and stakeholders, on the application of existing financial services legislation with regard to the use of AI; considers that such guidance should aim to enable the use of AI in the financial services sector, including in a way that is ethical, responsible and transparent; calls for consistent definitions and the simplification of the regulatory framework to avoid duplicated requirements, including risk assessment reporting requirements, and cautions against a one-size-fits-all approach that places a disproportionate burden on smaller and medium-sized financial institutions; emphasises the need for a good balance between the responsible use of AI and providing enough room for innovation;

26. Instructs its President to forward this resolution to the Council, the Commission and the governments and parliaments of the Member States.

EXPLANATORY STATEMENT

This report examines the use and impact of AI in the financial services sector and the regulatory landscape. The Rapporteur provides policy recommendations to enable the use of AI in financial services and clarify regulatory overlaps. The report addresses aspects specific to the financial services sector and does not cover matters falling within the remit of other Committees.

The Rapporteur believes that it is crucial for the policy debate on AI in financial services to be grounded in reality and focused on tangible and plausible questions. Due consideration must be taken of the existing legal framework and the practical realities of the technology’s use in financial services, rather than speculate about abstract or theoretical concerns.

The report therefore starts by analysing the deployment of AI in the sector. It notes that the majority of AI use cases aims to cut costs by streamlining operations, rather than create new revenue streams. Most use cases represent low-hanging fruit rather than high-risk innovation, meaning that it is safe to say that deployment of AI in finance has been prudent. We are far from experiencing a financial system run, or heavily dependent on, autonomous, auto-pilot AI models that threatens financial stability and consumers’ interests.

The reality is the opposite: the sector is so heavily regulated, and the fiduciary responsibility of financial institutions so highly regarded, that the lion’s share of use cases are both low-risk and include a human expert in the loop. Nonetheless, the diffusion and uptake of AI technologies across the financial services sector holds significant potential. Not only it can improve the sector’s efficiency, enhance consumer services, and strengthen the competitiveness of European firms, but it can also support more effective anti-money laundering and fraud detection.

That is not to say that AI deployment in financial services is without risks. The issue of data quality, explainability and transparency of AI is a challenge in this domain as within others. However, the financial services sector with its myriad of detailed directives and regulations, is well positioned to handle these risks. Financial institutions, whether it be banks, insurances undertakings or asset managers, are required by EU financial services legislation to have systems in place for data quality, data lineage, data governance, operational resilience, outsourcing, model risk, concentration risks, discriminatory outcomes, and more, which provides a framework for AI deployment and governance. As deployment of AI in finance continues, it will be critical to continue monitoring these risks and to provide finance experts with resources, training and AI-literacy.

The alternative is to take a restrictive approach to AI deployment in finance, with new legislation out of fear of the unknown effects, or because status quo is comfortable. Such a policy would deprive the financial services sector of the opportunity to use AI. This would ultimately undermine the sector’s competitiveness, the quality of services offered, and the benefits delivered to consumers. It would also have a negative impact on investment in AI technologies, considering that the financial services sector is the biggest spender on ICT services and products. Such a route should be off the table considering the global race for AI, the stark geopolitical realities underpinning it, and the fact that the EU is already lagging behind.

ANNEX: DECLARATION OF INPUT

Pursuant to Article 8 of Annex I to the Rules of Procedure, the rapporteur declares that she included in her report input on matters pertaining to the subject of the file that she received, in the preparation of the report, from the following interest representatives falling within the scope of the Interinstitutional Agreement on a mandatory transparency register1, or from the following representatives of public authorities of third countries, including their diplomatic missions and embassies:

The list above is drawn up under the exclusive responsibility of the rapporteur.

Where natural persons are identified in the list by their name, by their function or by both, the rapporteur declares that she has submitted to the natural persons concerned the European Parliament’s Data Protection Notice No 484 (https://www.europarl.europa.eu/data-protect/index.do), which sets out the conditions applicable to the processing of their personal data and the rights linked to that processing.

INFORMATION ON ADOPTION IN COMMITTEE RESPONSIBLE

FINAL VOTE BY ROLL CALL BY THE COMMITTEE RESPONSIBLE

Key:

+ : in favour

- : against

0 : abstentions