Standard / soft law
AI models in financial decisions should be regularly validated for accuracy and bias (MAS FEAT)
Per MAS FEAT Fairness Principles 3-4, data and models used for AIDA-driven financial decisions must be regularly reviewed and validated for accuracy and relevance and to minimize unintentional bias, and decisions reviewed so models behave as intended (frequency calibrated to materiality/complexity). Detect a consequential AI-decision model with no documented recurring accuracy/bias validation.
mas-feat.accuracy-bias-validation · MAS FEAT Principles — Fairness (Accuracy and Bias), Principles 3-4 · official source · jurisdictions: SG
Standard / soft law
Financial AI decisions should offer enquiry, appeal, and review channels to affected people (MAS FEAT)
Per MAS FEAT External Accountability Principles 10-11, data subjects must have channels to enquire about, submit appeals for, and request reviews of AIDA-driven decisions affecting them, and verified supplementary data they provide must be taken into account on review. Detect an AIDA financial-decision path with no enquiry/appeal/review channel.
mas-feat.external-review-channels · MAS FEAT Principles — Accountability (External), Principles 10-11 · official source · jurisdictions: SG
Standard / soft law
Personal-attribute inputs to AI financial decisions should be justified; no unjustified systematic disadvantage (MAS FEAT)
Per MAS FEAT Fairness Principles 1-2, financial institutions using AI/data-analytics (AIDA) in decisions must ensure individuals/groups are not systematically disadvantaged unless justified, and that the use of personal attributes as input factors is justified (e.g. via a documented governance rationale). Detect an AIDA financial-decision path that feeds personal/protected attributes without a documented justification or fairness review.
mas-feat.fairness-justifiability · MAS FEAT Principles — Fairness (Justifiability), Principles 1-2 · official source · jurisdictions: SG
Standard / soft law
Financial institutions should disclose AI use and explain AI-driven decisions on request (MAS FEAT)
Per MAS FEAT Transparency Principles 12-14, firms should proactively disclose their use of AIDA to data subjects, and on request provide clear explanations of what data is used, how it affects the decision, and the consequences — without exposing IP/source code. Detect an AIDA financial-decision or customer-interaction path with no AI-use disclosure or explanation-on-request capability.
mas-feat.transparency-disclosure-explanation · MAS FEAT Principles — Transparency, Principles 12-14 · official source · jurisdictions: SG