REGULATION · GLOBAL
ISO 42001 emerging as AI governance standard for payments industry
ISO/IEC 42001, published December 2023, is gaining traction as a management framework for AI systems in payments firms. It addresses traceability, accountability, and oversight of both custom-built and purchased AI—filling a gap in payments-sector governance.
WHY IT MATTERS
Standardized governance framework reduces friction for payments firms to demonstrate AI compliance to regulators and shareholders; may become de facto requirement for regulated entities.
Source: PYMNTS · 2026-09-21