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.
Understanding AI at Candescent
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 a 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.
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
Accountability
Safeguarding data & trust
Client autonomy & transparency
Our principles in practice
We do not sell or monetize user content
When you use Candescent’s products, you’re trusting us to handle your customer’s personal information with care. We make money when you purchase our products and services, and not by selling or monetizing your customer or member’s personal information.
Executive level oversight
Candescent’s AI Governance Committee ensures executive accountability and provides strategic direction for our AI program. The committee unites senior executives and subject matter experts from critical disciplines, including privacy, information security, ethics, data science, engineering, product management, and legal.
Policies, talent & training
Clear internal policies define acceptable AI use-cases and prohibited behaviors, ensuring AI is used to benefit customers and members and never to undermine their trust. We raise employee awareness of responsible AI through mandatory training and internal forums. We hire the best AI talent specializing in diverse financial services applications and technologies.
Client engagement
Our product roadmap presentations give clients early visibility into upcoming AI-driven features and their intended functionality and safeguards. To deepen engagement, we’ve recently formalized client advisory groups focused on product and AI innovation, hosting structured sessions where client's teams can share input and expectations. Beyond these sessions, clients can provide feedback, ask questions, or raise concerns about our responsible AI principles or practices.
Practicing deliberate software development
Human expertise is woven through each part of our product development process to ensure we can continually evaluate and improve each system’s performance, accuracy, and reliability. Every new feature goes through a rigorous risk-assessment process, which includes hands-on human review.
Security & compliance reviews
Our commitment to privacy and security extends to our AI systems. Every AI component goes through our standard robust security reviews and is assessed for compliance with relevant laws and our own internal standards before deployment.
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 clients’ 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 clients, 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.
Additional trust and
privacy resources
Trust Center
Visit our Trust Center to explore the measures we take to protect your information, including safety and privacy compliance standards.
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Issues or questions? Send us an e-mail at privacy@candescent.com