LatticeFlow and DEKRA Announce the First Commercial AI Assessment for Migros Bank, a Leading Swiss Bank
Forging the first practical framework for comprehensive AI assessments adhering to the latest ISO standards for data quality and model robustness
First Commercial AI Assessment: The Use Case
Innovative AI solutions, such as those offered by Gowago, have the potential to revolutionize and enhance the services we provide to our customers. However, ensuring the accuracy and reliability of the AI models in use, as demonstrated by an independent assessment service provider, remains paramount in mitigating risks and ensuring regulatory compliance.
AI Safety Framework: Timely Perspective and Business Impact
- Risk mitigation: As a critical requirement set by the Head of Risk Management at Migros Bank, expert audits are essential for managing internal risks at the bank.
- Regulatory compliance: As The Swiss financial market supervisory authority, FINMA, requires a complete audit trail of the assessment, to ensure compliance with regulatory requirements. The AI assessment adheres with the latest ISO standards, ensuring the safety and reliability of the bank’s systems in line with internationally recognized standards.
- Business decision-making: The comprehensive insights gained from the AI assessment enable Migros Bank management to make informed decisions regarding the use of innovative, AI-based solutions in bank operations.
- Independent technical assessment: To ensure objectivity, the technical evaluation was conducted by a third-party provider, LatticeFlow, who was uninvolved in the design and implementation phases of the AI project, offering an unbiased and reliable assessment of the AI models.
Our comprehensive approach to evaluating AI robustness and reliability, which encompasses the entire AI lifecycle, has transitioned from dialogues with governments and standard organizations to conducting the industry’s first AI assessments. At LatticeFlow, we've observed remarkable growth in demand for AI assessments from enterprises and Fortune 500 companies in 2023, even in the absence of regulatory pressures. We remain committed to our mission of empowering them to safely harness the business potential of state-of-the-art AI models.
We conducted a thorough assessment of Gowago’s AI system with our partner LatticeFlow. On the one hand, DEKRA audited the AI lifecycle processes, from development, testing and deployment up to operation. To that end, our expert auditors used the DEKRA AI Assessment Framework, which focuses on assessing the AI System Quality as well as its compliance with upcoming EU regulations. On the other hand, our partner LatticeFlow conducted an end-to-end technical assessment of the AI lifecycle - leveraging their robust AI platform to evaluate data quality, model robustness, and model deployment to ensure safety and trustworthiness in compliance with the latest ISO standards.