JOINT STATEMENT

Understanding Credit Scoring: Techniques and Distinction from Artificial Intelligence

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Brussels, 16 January 2023 – The European Baking Federation (EBF), together with the Association of Consumer Credit Information Suppliers (ACCIS), the European Association of Co-operative Banks (EACB), the European Fintech Association (EFA), the European Savings Bank Group (ESBG), the European Federation of Finance House Associations (Eurofinas), and the European Federation of Leasing Company Associations (Leaseurope) have published a joint industry statement regarding the definition of artificial intelligence in the Artificial Intelligence Act.

With this statement the co-signatories aim to draw the co-legislators’ attention to the need to safeguard ongoing credit scoring operations from potential disruptions caused by pending technical details around the agreed definition of “artificial intelligence systems”, following the political agreement on the AI Act last December and in view of the finalization of the technical level work on the text.

Therefore, the associations co-signing this statement emphasize the necessity for amending the relevant recital on AI systems, to ensure legal clarity and distinguish between AI and traditional techniques when the latter are used in isolation.

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About the EBF:

The European Banking Federation is the voice of the European banking sector, bringing together national banking associations from across Europe. The EBF is committed to a thriving European economy that is underpinned by a stable, secure and inclusive financial ecosystem, and to a flourishing society where financing is available to fund the dreams of citizens, businesses and innovators everywhere.