Responsible AI. Built for finance.

At Candescent, we view Artificial Intelligence (AI) as a strategic catalyst for enhancing our product capabilities and delivering superior customer experiences. As a partner to financial institutions, we understand that innovation must never come at the expense of safety, soundness, or compliance. Our AI strategy is built upon transparency, accountability, and alignment with the regulatory expectations of the financial services industry.

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The quiet shift financial institutions should be watching

The definition of artificial intelligence is dynamic and has dramatically evolved over time. Historically, the term could have applied to any technology that performed tasks ordinarily requiring human intelligence. However, due to a phenomenon known as the “AI effect” , technologies often shed the artificial intelligence label once they become mainstream. What was once cutting-edge artificial intelligence is now simply considered standard software. For example, Optical Character Recognition (OCR)—which reads information from checks and improves accuracy through feedback loops—was once groundbreaking AI. Having been used in our products for decades, it is now considered routine feature.

While there is still no single, universally accepted definition of artificial intelligence, today the technology that is driving significant uncertainty, public concern, and widespread debate is generative artificial intelligence—technology that generates new content. Therefore, for clarity and relevance, in our Trust Center, when we use the term “Artificial Intelligence” or “AI,” we are specifically referring to this modern, generative form, rather than traditional machine learning or automation.

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Commitment to responsible AI

At Candescent, we pair AI with integrity—innovating financial products and services while maintaining our commitment to data security, absolute transparency, and regulatory compliance.

Client-Centric Use Cases

We take a value-driven approach to developing AI-enabled technology, prioritizing projects based on impact and feasibility to deliver maximum benefit. Our use of AI and other technologies is purposeful—focused solely on enhancing the products and services we provide to our financial institution clients.

Accountability

We follow a thoughtful approach to ensure the responsible use of our AI. Our multidisciplinary approach to governance includes internal review, executive-level oversight through our AI Governance Committee, employee literacy and training, and channels for stakeholder feedback. 

Safeguarding Data & Trust 

Clients trust us with some of their most sensitive data, and we earn their trust by putting data security and privacy at the core of our business and products. With decades of experience developing best-in-class financial products and services, we go to great lengths to ensure user data is encrypted, private, and secure. We do not permit our third‑party service providers to use end-user personal information to train their AI models.

Client Autonomy & Transparency

We put clients in control of their experience. We leverage AI to enhance efficiency, but never at the cost of your oversight. You are the ultimate decision-maker and the expert on your industry and customer relationships. To ensure you maintain full autonomy, we provide the flexibility to enable or disable AI features at any time, aligning our technology with your specific operational needs. 

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Our principles in practice

Third-party risk management and partner oversight

In the financial technology ecosystem, no organization operates alone. Candescent works with various technology partners and third-party providers to deliver a seamless, integrated experience to our clients. We extend our commitment to these partners as well, through a robust Third-Party Risk Management (TPRM) program:

Vetting integrated partners:

Any third-party product or service that is integrated into Candescent’s solutions (especially those that might handle our customers’ data) is subject to annual TPRM reviews. This means each year we assess those partners for security controls, compliance with obligations, and overall risk. Part of this vetting includes ensuring they meet our standards for data protection, reliability, and regulatory compliance. We have recently enhanced this process by adding specific AI-related due diligence – we now require our partners to disclose if their products or services incorporate AI, and if so, how that AI is used and governed. This added step helps us understand any AI-driven risks and make sure third-party AI usage aligns with the same principles we uphold in-house. 

Ongoing monitoring:

Beyond the formal yearly reviews, we stay attentive to our partners’ performance and any changes in their risk posture. If a partner introduces a new AI component, for example, our risk management and product teams will evaluate it in the context of our security and compliance requirements. 

Marketplace offerings:

Candescent also provides a Marketplace where clients can choose to use independent third-party FinTech products that complement our platform. It’s important to note that when you opt to explore or engage a Marketplace Independent Partner offering, you are entering a direct relationship with that third-party provider. While we carefully select reputable firms to include in our Marketplace, those independent offerings are not part of Candescent’s integrated platform. We encourage clients to review each Marketplace partner’s own trust and compliance documentation. Rest assured, even for Marketplace solutions, we are available to facilitate discussions or provide guidance if you have concerns about how an independent partner uses AI or protects data. 

Continuous improvement and commitment

The field of AI is rapidly advancing, and Candescent’s approach to AI governance is designed to evolve accordingly. We are continuously learning and adapting – tracking emerging best practices in both technology and financial services, and updating our policies to meet or exceed industry expectations. This means the information in our Trust Center’s AI section will be updated over time as our framework, products, and external standards develop. We invite you to check this page regularly for updates.

Above all, Candescent remains deeply committed to transparency and collaboration. We understand that trust is earned through openness and accountability. By sharing our principles and practices, and by welcoming an ongoing dialogue with our customers, we aim to ensure that our use of AI not only meets your organization’s governance requirements but also continues to merit your confidence.

If you have any questions about our AI practices or would like to discuss our approach in more detail, please reach out to us. We value your input and look forward to continuing our partnership in this dynamic area of innovation.