Inside the regulator’s AI rulebook: FSCA lifts the lid on finance’s next frontier
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This episode of Money, Markets, and Masterminds marks the launch of an exclusive monthly Citywire South Africa series with the financial regulator, offering a behind-the-scenes look at how regulation is evolving as technology reshapes the industry. Editor Ruan Jooste is joined by Nolwazi Hlophe, senior fintech specialist at the Financial Sector Conduct Authority (FSCA) and co-author of the joint FSCA–Prudential Authority report on artificial intelligence in the local financial sector. Drawing on the first comprehensive, data-driven study of AI adoption across banking, insurance, asset management, pensions and fintech, the discussion separates hype from reality.
The conversation explores where AI is already delivering tangible benefits, where adoption remains cautious, and how issues such as bias, explainability, accountability and systemic risk are shaping regulatory thinking. It also examines why AI governance is no longer a technical issue, but a board-level responsibility, with human oversight remaining non-negotiable.
This Citywire South Africa exclusive sets the tone for a monthly series designed to unpack the rules, the red tape and the regulatory judgement calls shaping the future of South Africa’s financial system.
The conversation explores where AI is already delivering tangible benefits, where adoption remains cautious, and how issues such as bias, explainability, accountability and systemic risk are shaping regulatory thinking. It also examines why AI governance is no longer a technical issue, but a board-level responsibility, with human oversight remaining non-negotiable.
This Citywire South Africa exclusive sets the tone for a monthly series designed to unpack the rules, the red tape and the regulatory judgement calls shaping the future of South Africa’s financial system.
