As financial institutions across Europe increasingly rely on machine learning for transaction monitoring, concerns about algorithmic fairness are rising. AI-driven systems can enhance efficiency and detection of illicit activities but also risk reinforcing societal biases and financial exclusion. This presentation explores how European financial regulators can supervise fairness in these systems—navigating complex trade-offs between accuracy, discrimination, privacy, and compliance. Arguing for a procedural rather than normative role, Frans proposes that regulators focus on transparent governance, robust auditing, and collaboration with human rights bodies to ensure fairness becomes a core pillar of responsible financial supervision.

Frans van Bruggen is Senior Policy Officer FinTech and Artificial Intelligence at De Nederlandsche Bank (DNB). Also he is a PhD candidate at Utrecht University, and de Nederlandsche School voor Openbaar Bestuur. In his work and research, he focusses on regulating and supervising Artificial Intelligence, primarily in the financial industry.