Exterior of a branch of Migros Bank in Switzerland.

AI assessments and testing in practice

Ensuring AI quality and reducing risk

DEKRA and LatticeFlow AI completed the first commercial AI assessment for Migros Bank, one of Switzerland’s best-known financial institutions. This milestone demonstrates both organizations’ commitment to ensuring comprehensive and impartial assessments of business-critical AI use cases in the banking and financial sectors based on the latest ISO standards for data quality and model robustness.

The business case

Gowago, Switzerland’s largest online car leasing provider, uses an AI model to predict the value of cars at the end of the lease term. This capability empowers Migros Bank to help Gowago provide competitively priced leasing rates. However, a fault in the AI model could have a huge impact on Migros Bank’s revenues. It therefore needs to be assessed carefully.

Stephan Wick, COO and CIO, Migros Bank, Switzerland.

The challenge

“Innovative AI solutions, such as those offered by Gowago, have the potential to revolutionize and enhance the services we provide to our customers. However, ensuring the accuracy and reliability of the AI models in use, as demonstrated by an independent assessment service, remains paramount in mitigating risks and ensuring regulatory compliance.”

Stephan Wick, COO & CIO, Migros Bank

The solution

“We conducted a thorough assessment of Gowago’s AI system with our partner LatticeFlow AI. DEKRA audited the AI lifecycle processes, from development through testing and deployment to operation. To that end, our expert auditors used the DEKRA AI Assessment Framework, which focuses on assessing the AI system quality as well as its compliance with upcoming EU regulations. In addition, our partner LatticeFlow AI conducted an end-to-end technical assessment of the AI lifecycle, leveraging their robust AI platform to evaluate data quality, model robustness, and model deployment to ensure safety and trustworthiness in line with the latest ISO standards.”

Dr. Xavier Valero Gonzales, Director AI & Advanced Analytics, DEKRA

Artificial Intelligence at DEKRA

The benefits

The in-depth AI assessment’s key benefits for Migros Bank are:

  • Risk mitigation: Managing internal risks at the bank.
  • Regulatory compliance: Ensuring compliance with regulatory requirements set by FINMA, the Swiss financial market supervisory authority.
  • Business decision-making: Enabling management to make informed decisions regarding the use of innovative, AI-based solutions in bank operations.
  • Independent technical assessment: Guaranteeing objectivity thanks to DEKRA and LatticeFlow performing an unbiased and independent AI assessment.
Exterior of a branch of Migros Bank in Switzerland.

About Migros Bank

Migros Bank is a wholly owned subsidiary of the Migros-Genossenschafts-Bund. It employs around 1,700 people and operates over 70 branches in all parts of Switzerland. Its approximately one million customers entrust the bank with customer deposits totaling over 45 billion francs.

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