“AI is a hot topic, but boards must understand what they are
getting into,” said Remonda Z. Kirketerp Møller, founder of Muinmos, speaking
at the Finance Magnates London Summit 2025.

In an interview with Finance
Magnates Editor in Chief Yam Yehoshua, she shared a measured view of artificial
intelligence adoption in regulatory technology, outlining both its potential
value and the risks it poses for brokers and financial institutions.

AI Use in Compliance Raises Accountability and Onboarding
Concerns

Møller said many firms are eager to introduce AI into
compliance functions without fully understanding the operational and regulatory
implications. “Its usability, accuracy, and accountability are fundamental in
compliance,” she said, adding that weak implementation can result in financial
burdens, regulatory fines, reputational damage, and interruptions to client
onboarding.

Founded in 2012, Muinmos was established following its
founder’s early concept for an automated system to assess whether financial
institutions can onboard clients in line with regulatory requirements. The
company develops a SaaS-based regtech platform that uses automation, including
AI and machine learning, to support client onboarding and compliance processes
across multiple jurisdictions.

Automation Often Mistaken for Artificial Intelligence

Møller described the current level of AI maturity in the
industry as limited. “A lot of companies talk about AI, but mostly they mean
automation,” Møller said. She emphasized that decision-making responsibility
cannot be delegated to technology. “The final decision-making must sit with the
institution, which retains responsibility and accountability,” she noted.

According to Møller, client onboarding is one of the areas
where AI can offer near-term benefits, particularly through process support and
efficiency gains. However, she said such systems should operate with defined
controls and under human oversight, rather than functioning as fully autonomous
decision-makers.

AI Dialogue Grows Amid Licensing Uncertainty

The discussion also addressed regulatory engagement with AI.
Møller observed that regulators are increasingly open to dialogue, including
inviting regtech firms into regulatory sandboxes.

Despite this, she said many
firms continue to operate in fragmented ways. “There is still a gap between
using AI and understanding the regulatory framework,” she said, stressing that
compliance considerations must remain central as AI tools are applied across
business functions.

On licensing trends in Europe, Møller pointed to recent
approvals granted to firms such as Revolut and eToro by CySEC as signs of
regulatory progress. At the same time, she highlighted ongoing uncertainty
around passporting within the European Union. “Even if authorities are ready,
some regulators are being asked to slow down the pace,” she said, referring to
guidance issued by ESMA.

Regtech Sees Controlled Shift to Automation

Looking ahead, Møller said client lifecycle management is
likely to move toward greater straight-through processing supported by AI. “The
future of onboarding is very little human touch, managed through AI—but with
the right controls and risk framework,” she said.

The discussion highlighted a central tension in regtech
today: AI offers efficiency and compliance gains, but its responsible
implementation requires careful oversight, regulatory collaboration, and an
appreciation of its limitations. For brokers and investment firms, the message
is clear: embrace AI, but do so deliberately.

This article was written by Tareq Sikder at www.financemagnates.com.

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