The new partner ecosystem enables fintech companies to properly validate AI models, making them compliant with banks’ regulatory requirements
ValidMind, the leading next-generation AI and model risk management platform for financial services, today announced the launch of the ValidMind Advantage program. This partner ecosystem is designed to provide early-stage and established fintech companies with the ability to test, document and validate their AI models in accordance with banks' regulatory requirements to ensure SR11-7, SS1-23, E23 and EU AI Act compliance.
As AI adoption heats up for banks, ensuring AI models are properly validated and compliant remains a priority for the highly regulated financial services industry. Banks must ensure that any third-party models they use are properly documented, validated, and comply with necessary regulations. Fintechs can get ahead of these requests and provide a more attractive offering to banks by working with ValidMind to ensure their models are compliant.
The ValidMind Advantage program addresses this need by providing emerging and established fintech companies (e.g., system integrators and management consulting firms) access to a trusted, compliant platform to validate their AI models, while financial institutions gain access to a broader range of rigorously tested and reliable AI solutions to enhance decision-making and risk management.
“The more fintech peers we speak to in the industry, the more it’s clear that fintechs that adopt best practices in accordance with their bank clients' regulatory requirements can get ahead of their competitors and establish themselves as serious and trustworthy providers of AI solutions to their clients,” said Jonas Jacobi, CEO and co-founder of ValidMind. “The ValidMind Advantage partner program allows fintech companies to deliver on their clients' testing and model documentation requirements and become their clients' trusted AI partner.”
Through the ValidMind Advantage program, partners will have access to our purpose-built model risk management platform for model documentation, regulatory compliance resources, technical onboarding and support, co-marketing opportunities and networking events to connect with key stakeholders in the financial services industry. This partner ecosystem demonstrates ValidMind’s strategic commitment to fostering innovation in AI-driven financial solutions by lowering barriers for Fintech companies to become trusted AI providers and encouraging collaboration with established players.
“To successfully deploy AI models in the highly regulated world of banking, it hinges on rigorous validation and regulatory compliance. At Flowcast, we quickly learned that to succeed in this market, we needed to meet the same standards for model governance that banks themselves follow,” said Ken So, founder and CEO of Flowcast, a ValidMind partner. “Working with ValidMind has been a game changer for Flowcast, allowing us to successfully navigate complex regulatory requirements and validate our AI models in order to build trust with financial institutions.”
The ValidMind Advantage program is available through a tiered partner model with co-development and co-marketing opportunities at each level.
To learn more about the ValidMind Advantage program, please visit https://validmind.com/advantage-partner-ecosystem/.
About ValidMind
ValidMind ensures the regulatory and reputational integrity of all AI and statistical models for every financial institution. Our AI risk management and governance solution automates the painful parts of model documentation and validation. No more manual anything. Just simplified.
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PRforValidMind@bospar.com
