AI in Payments: Promise, Pitfalls and Practicality

Session 6: IPA Compliance Boot Camp

Artificial intelligence (AI) is no longer a futuristic concept; it’s actively transforming the payments and fintech landscape. From identity verification to fraud detection and beyond, AI is driving innovation and efficiency in nearly every corner of financial services. But with this rapid evolution comes new risks and regulatory questions that compliance professionals must be ready to face.

At this year’s IPA Compliance Boot Camp, Judie Rinearson, Partner at K&L Gates and a leading expert in fintech legal frameworks, will lead a session exploring how AI is reshaping the industry and how companies can navigate the practical and ethical challenges that come with it.

Why AI Matters Now

AI is helping institutions improve customer experiences, automate compliance tasks, and identify threats faster than ever before. Yet as powerful as these tools are, they also carry risks. Concerns surrounding algorithmic bias, lack of transparency (referred to as “AI hallucinations”), and data privacy necessitate new approaches to oversight. Additionally, regulators are increasingly scrutinizing the deployment of AI, particularly in high-stakes use cases such as credit scoring and anti-fraud systems.

Key session topics:

• AI fundamentals and how they’re being applied in the payments ecosystem
• Legal and compliance considerations for AI tools, especially in risk-prone areas
• Potential regulatory responses to AI-related harm or misuse
• Ethical considerations around data usage, bias, and explainability
• How financial institutions can use AI to protect both themselves and their customers
  
  

This session is designed to provide a balanced view of where AI is headed, what it means for compliance leaders, and how you can prepare your organization to use AI responsibly.
​
Whether you’re just beginning to explore AI or already deploying it in your operations, this is a critical conversation to help you think strategically about the technology’s benefits, limitations, and legal implications.

REgister Now | Compliance Boot Camp

The IPA’s Compliance Boot Camp in Chicago on Sept. 11 offers a unique opportunity to dive deep into the latest regulations and trends. From hot topics like Open Banking and Earned Wage Access to the legal implications of AI and serving cannabis businesses, this one-day event is packed with insightful sessions led by industry experts. Eligible for up to 7 CLE credits in Illinois, Georgia, Florida, New York, and Texas, the Boot Camp provides both practical knowledge and professional development. Don’t miss this chance to gain the insights you need to thrive in today’s dynamic market. Register now.