Mortgage technology provider Phoebus Software has renewed its SOC 2 Type II attestation following an independent assessment of controls over a 12-month period. Separately, US mortgage technology coverage highlighted an AI underwriting certification focused on governance and auditability, signalling the direction of travel for automated lending tools.
For UK adviser firms, the practical lesson is to treat AI adoption as a governance project rather than simply a productivity upgrade. Before placing client data into an AI-enabled workflow, firms should assess data security, permissions, record retention, explainability, human oversight and supplier assurance. Consumer Duty outcomes and the ability to evidence advice remain the responsibility of the firm, even where technology assists research, administration or communications.