REPORT (2025/2056(INI))
On the impact of artificial intelligence on the financial sector
A-10-2025-0225
Committee on Economic and Monetary Affairs · Rapporteur: Arba Kokalari
- Voted on · Adopted 426–182–39 · See the decision →
- Full procedure 2025/2056
✦ In short · AI summary of this text, generated 4 Sept 2026
Written by a language model from the full text only; every figure comes from the text. The paragraph links open the paragraph a statement rests on — check the text itself before relying on it.
Parliament's resolution on the impact of artificial intelligence on the financial sector notes the broad adoption of AI, highlights benefits and risks, and calls for clear guidance, regulatory consistency, and support for innovation while ensuring consumer protection and financial stability.¶¶¶
Key points
- Notes that most AI use cases in finance aim to streamline back-office processes, but creditworthiness assessment is prevalent and increasing; stresses that fully autonomous AI systems should have human oversight.¶
- Believes AI offers opportunities for innovation and societal benefits, but risks include poor data quality, model hallucinations, cybersecurity vulnerabilities, and lack of explainability; calls for robust data governance and human oversight.¶¶
- Calls on European and national supervisory authorities to adapt to AI use, monitor risks, and avoid disproportionate compliance burdens.¶
- Notes concentration risks from reliance on few third-party technology providers for AI services; requests assessment of applying DORA exit strategies to AI models hosted by third parties.¶¶
- Supports initiatives to boost AI and cloud development in the EU, ensuring compliance with data protection and fundamental rights, and strengthening strategic autonomy.¶¶
- Expresses concern about regulatory overlaps and lack of guidance on AI Act implementation; asks Commission and national authorities to address inconsistencies, including in the Digital Omnibus package.¶
- Encourages supervisory authorities to strengthen coordination and cooperation to avoid overlapping jurisdiction and fragmentation of the single market.¶¶
- Calls for an ambitious proposal to jump-start European venture capital, noting EU companies received EUR 33 billion in venture funding for foundational models between 2018 and 2023.¶
- Calls on the Commission to provide clear guidance on applying financial services legislation to AI, with consistent definitions and simplified rules, avoiding one-size-fits-all approaches.¶
- Believes current sectoral legislation is largely sufficient; advises against additional legislation and gold-plating, but calls for continuous monitoring and enforcement.¶
- Calls for removing entry barriers for AI-driven financial firms, supporting AI literacy and reskilling, and assessing AI regulatory sandboxes and SupTech tools.¶¶¶
Who is affected
- Financial institutions in the EU, including banks, insurers, and asset managers, will be affected by calls for clear guidance and regulatory consistency.¶¶
- European and national supervisory authorities are urged to adapt supervision and enhance tools.¶¶
- Third-party technology providers hosting AI models for financial firms face scrutiny of concentration risks.¶¶
- Consumers may benefit from lower prices and better services, but need protection from risks.¶¶
Figures and deadlines
- EUR 33 billion in venture funding received by EU companies developing foundational models between 2018 and 2023.¶