Nivo has become one of the first financial services firms in the UK to achieve ISO 42001 certification, the newly introduced international standard for Artificial Intelligence Management Systems.

The standard, launched to ensure the safe, transparent and effective use of AI, sets out requirements for governance, accountability and oversight. Its adoption is regarded as a significant development for heavily regulated sectors such as financial services, where data protection and compliance are paramount.

For lenders and brokers making increasing use of AI to streamline case packaging and administration, ISO 42001 is expected to provide reassurance that the technology is both effective and managed in line with internationally recognised standards.

The accreditation adds to Nivo’s existing ISO 27001 certification for information security, underlining the company’s emphasis on embedding compliance into its platform design.

Matthew Elliott (pictured), co-founder at Nivo, said: “AI is already transforming how some lenders and brokers package and progress cases. But in a sector where data sensitivity and regulatory scrutiny are non-negotiable, there is rightly some trepidation around the use of large language models. It can easily go wrong when firms rush in without the right controls.

“At Nivo, we’ve spent years building secure, compliant technology specifically for financial services. This latest milestone, in achieving ISO 42001, is an independent validation of the governance we already have in place, and of our commitment to doing things properly.”