Onur Can Koltukcu

Ahead of the AI Leaders in Finance event on June 4th, we spoke with Onur Can Koltukcu from the Dutch Central Bank (DNB) to explore the evolving role of regulation in AI-adoption within financial services.

Balancing Innovation and Risk
When asked where the line should be drawn between responsible AI scaling and unacceptable risk, Onur emphasizes that this boundary is not fixed by institutions alone:
It’s ultimately regulation that defines the boundaries, but within that, there is room for interpretation. Financial institutions must define their own risk appetite and ensure their policies and risk management practices are consistently applied. Rather than focusing solely on what is “unacceptable,” Onur highlights the importance of clear internal governance and day-to-day accountability.

Misconceptions Around AI in Finance
A key concern is the lack of AI literacy across the ecosystem:
One of the biggest challenges is ensuring that the right people, with the right expertise are using and interpreting AI-systems correctly. He also addresses a common perception that regulators slow down innovation: We often hear that regulation is a barrier. While there are challenges, our goal is to engage in dialogue, provide clarity, and help facilitate innovation within the regulatory framework.

Regulation: Barrier or Opportunity?
Onur offers a nuanced perspective:

• Regulation can introduce uncertainty, particularly where terms like fairness or bias are not yet fully defined.
• At the same time, this ambiguity creates opportunity for institutions to shape their own approaches.

If definitions are not fixed, institutions have the space to innovate and define what works, provided they can justify their choices and manage risks responsibly.

Staying Compliant in a Changing Landscape
Looking ahead, Onur advises financial institutions not to reinvent the wheel:

• Build on existing risk management frameworks
• Identify gaps introduced by new AI regulations
• Integrate AI governance into current structures rather than creating entirely new systems

Many requirements already align with existing controls. The key is to enhance and integrate, not duplicate.

What DNB Is looking for at the Leaders in Finance AI-event
Onur is particularly interested in:

• Real-world AI use cases in financial services
• Key challenges in implementation
• Opportunities where regulators can support and facilitate progress

We want to understand what’s happening in practice, what works, what doesn’t, and where we can help as a regulator.