The Data Trust Deficit: Strengthening the Foundations of UK Financial Services

22nd September 2026 from 5:30pm — 8:00pm • Information Technologists' Hall

Join the FS Tech Panel on the 22nd September for an in person, free workshop. The goal of this workshop is to share lived experience and practical insights. The WCIT encourages participants to share their experience and reflections to build a City of London resilient and adaptable to change.

The UK financial services industry is at a crossroads. While the rapid adoption of Artificial Intelligence and ‘low-code’ tools promise unprecedented speed and innovation, a fundamental challenge remains: the quality of the data powering these systems. Recent findings from the Financial Conduct Authority (FCA) highlight a persistent gap, with many firms failing basic data tests due to reporting errors, lack of accuracy, and inconsistent records. This event brings together a diverse range of professional from across the City—including business executives, legal experts, and risk officers—to move beyond the surface of technical glitches. We will explore whether poor data quality is simply a technology failure or a deeper symptom of how organizations behave and govern themselves.

Key Discussion Themes

The AI and Innovation Gap: As firms move toward ‘non-deterministic’ systems (tools that provide probable rather than exact answers), how do we maintain trust? We will examine why remediation efforts are stalling and how to ensure new, fast-paced development doesn’t bypass essential controls.
Structural Barriers and Behavioural Shifts: Data quality is often seen as a ‘back-office’ task, yet its failure sets the tone for the entire firm’s risk management. We will discuss the ‘conflict of interest’ inherent in reporting data issues and why ‘continuous assurance’ remains a challenge for many organizations.
From Defence to Strategy: For too long, data governance has been a defensive shield used to avoid fines. We will discuss shifting the focus toward ‘offensive’ governance, where high-quality data becomes a strategic asset for growth rather than a regulatory burden.