Mills Review on AI in Retail Financial Services Outlines Key Impacts by 2030
The Mills Review, led by Sheldon Mills of the UK’s Financial Conduct Authority (FCA), outlines how artificial intelligence could reshape retail financial services through four major shifts: firm operations transformation, consumer journey evolution, competition reshaping, and increased fraud risks. The report highlights growing consumer interest in agentic AI for personal finance but also concerns around trust and control.
Topics: agentic AI AI consumer trust FCA financial services regulation