{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2025,7,30]],"date-time":"2025-07-30T16:31:09Z","timestamp":1753893069843,"version":"3.41.2"},"reference-count":19,"publisher":"Frontiers Media SA","license":[{"start":{"date-parts":[[2023,11,10]],"date-time":"2023-11-10T00:00:00Z","timestamp":1699574400000},"content-version":"vor","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0\/"}],"content-domain":{"domain":["frontiersin.org"],"crossmark-restriction":true},"short-container-title":["Front. Artif. Intell."],"abstract":"<jats:p>The proposal for the Artificial Intelligence regulation in the EU (AI Act) is a horizontal legal instrument that aims to regulate, according to a tailored risk-based approach, the development and use of AI systems across a plurality of sectors, including the financial sector. In particular, AI systems intended to be used to evaluate the creditworthiness or establish the credit score of natural persons are classified as \u201chigh-risk AI systems\u201d. The proposal, tabled by the Commission in April 2021, is currently at the center of intense interinstitutional negotiations between the two branches of the European legislature, the European Parliament and the Council. Without prejudice to the ongoing legislative deliberations, the paper aims to provide an overview of the main elements and choices made by the Commission in respect of the regulation of AI in the financial sector, as well as of the position taken in that regard by the European Parliament and Council.<\/jats:p>","DOI":"10.3389\/frai.2023.1277544","type":"journal-article","created":{"date-parts":[[2023,11,13]],"date-time":"2023-11-13T11:07:51Z","timestamp":1699873671000},"update-policy":"https:\/\/doi.org\/10.3389\/crossmark-policy","source":"Crossref","is-referenced-by-count":7,"title":["Considerations on the regulation of AI systems in the financial sector by the AI Act"],"prefix":"10.3389","volume":"6","author":[{"given":"Gabriele","family":"Mazzini","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Filippo","family":"Bagni","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"1965","published-online":{"date-parts":[[2023,11,10]]},"reference":[{"unstructured":"AllowayT.\n          Big Data: Credit Where Credit's Due. 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Ada Lovelace Institute2012","key":"B6"},{"year":"2023","journal-title":"Machine Learning for IRB Models. A Follow-up Report from the Consultation on the Discussion Paper on Machine Learning for IRB Models","key":"B7"},{"year":"2021","journal-title":"Study on the Relevance and Impact of Artificial Intelligence for Company Law and Corporate Governance","key":"B8"},{"key":"B9","doi-asserted-by":"publisher","DOI":"10.1177\/1023263X18794407","article-title":"Consumer access to capital in the age of FinTech and big data: the limits of EU Law","author":"Ferretti","year":"2018","journal-title":"Maastricht J. Eur. Comp. Law"},{"key":"B10","doi-asserted-by":"publisher","first-page":"215","DOI":"10.1007\/s13347-021-00460-9","article-title":"The European Legislation on AI: a brief analysis of its philosophical approach","volume":"34","author":"Floridi","year":"2021","journal-title":"Philos. Technol."},{"unstructured":"GambacortaL.\n            HuangY.\n            QiuH.\n            WangJ.\n          How do Machine Learning and Non-traditional Data Affect Credit Scoring? New evidence from a Chinese fintech firm. in Monetary and Economic Department2019","key":"B11"},{"key":"B12","doi-asserted-by":"publisher","DOI":"10.1016\/j.frl.2023.104088","article-title":"SAFE Artificial Intelligence in finance","author":"Giudici","year":"2023","journal-title":"Finan. Res. Lett"},{"key":"B13","doi-asserted-by":"publisher","DOI":"10.3389\/frai.2021.752558","article-title":"SHAP and LIME: an evaluation of discriminative power in credit risk","author":"Gramegna","year":"2021","journal-title":"Front. Artif. 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Corporate Default Forecasting With Machine Learning2019","key":"B17"},{"unstructured":"\u201cThe role of explainable AI in the context of the AI Act,\u201d\n            PaniguttiC.\n            HamonR.\n            HupontI.\n            Fernandez LlorcaD.\n            Fano YelaD.\n            JunklewitzH.\n          ACM Conference FAccT 20232023","key":"B18"},{"doi-asserted-by":"crossref","unstructured":"Sciarrone AlibrandiA.\n            RabittiM.\n            SchneiderG.\n          The European AI Act's Impact on Financial Markets: From Governance to Co-Regulation2023","key":"B19","DOI":"10.2139\/ssrn.4414559"}],"container-title":["Frontiers in Artificial Intelligence"],"original-title":[],"link":[{"URL":"https:\/\/www.frontiersin.org\/articles\/10.3389\/frai.2023.1277544\/full","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2023,11,13]],"date-time":"2023-11-13T11:07:56Z","timestamp":1699873676000},"score":1,"resource":{"primary":{"URL":"https:\/\/www.frontiersin.org\/articles\/10.3389\/frai.2023.1277544\/full"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2023,11,10]]},"references-count":19,"alternative-id":["10.3389\/frai.2023.1277544"],"URL":"https:\/\/doi.org\/10.3389\/frai.2023.1277544","relation":{},"ISSN":["2624-8212"],"issn-type":[{"type":"electronic","value":"2624-8212"}],"subject":[],"published":{"date-parts":[[2023,11,10]]},"article-number":"1277544"}}