FCA Selects Barclays, Experian, Lloyds, and UBS for Second AI Live Testing Cohort — Regulatory Sandbox for Financial AI

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The UK Financial Conduct Authority selected eight firms including Barclays, Experian, Lloyds Banking Group (Scottish Widows), and UBS for its second cohort of AI live testing. This regulatory sandbox lets firms deploy AI applications in controlled production environments under FCA supervision. The expansion from first to second cohort signals regulators are accelerating rather than slowing AI adoption in financial services.