The Mills Review validates the AI governance model Aveni was built for
The Mills Review sets out how firms will need to govern AI as it takes on more decisions and customer interactions. Aveni has spent seven years developing those capabilities specifically for regulated financial services.
AI can turn a single error into a population-scale problem
A human adviser makes one judgement at a time. An AI system can make thousands. If that decision pattern is flawed, the same error can reach every customer the system serves before anyone spots it.
Financial services governance was designed for people working at human speed. AI changes the scale and speed of decisions, creating a mismatch that existing oversight models were not built to handle. The Mills Review is the FCA’s response to that mismatch.
What the Mills Review asks firms to do
Accountability does not change. Firms remain responsible for every customer outcome, whether the work is done by a person or AI.
What changes is the evidence required: continuous monitoring, timely outcome data and oversight that operates at the same speed and scale as AI.
Watch the Mills Review discussed:
what risk and compliance teams should do first
Benjamin Cave
Chief Product Officer, Aveni
Kent Mackenzie
Chief Commercial Officer, Aveni
The Mills Review describes the model. Aveni already delivers it.
The Mills Review points towards stronger oversight before, during and after AI systems are used. Aveni brings those stages together in one platform. Firms can capture interactions, test AI before deployment, monitor behaviour in live operation and review every outcome against a consistent standard.
Assist
Every interaction starts here. Human advisor or AI agent, the conversation is captured the same way, the moment it happens.
Approve
Assure
Detect
Intelligence Engine
FINLLM · 150+ MODELSFast · Live · Continuous
Deep · Specialist SLMs
Generalist LLMs
Assist:
Capture every interaction
Assist records, transcribes and structures customer interactions as they happen. This creates a reliable record that firms can use for documentation, oversight and later review.
Approve:
Test AI before deployment
Approve turns your policies and risk appetite into test criteria. AI systems are assessed across realistic customer scenarios so teams can identify weaknesses before deployment. Deployment decisions are supported by evidence from testing.
Assure:
Monitor AI continuously
Assure monitors AI systems while they are in use. It tracks behaviour against expected limits, identifies drift and gives teams the information they need to intervene quickly.
Detect:
Review every outcome
Detect assesses completed interactions, whether handled by a person or an AI system, against one consistent standard. It gives firms broader coverage, clearer evidence and a more complete view of customer outcomes.
Intelligence Engine:
The intelligence behind every Aveni product
The Aveni Intelligence Engine combines fast classifiers, financial services models and general-purpose language models.
Mills Review resources
The Mills Review
Read the FCA’s full Review and its seven recommendations for the future oversight of AI in retail financial services.
Read the Review on the FCA’s website
The Mills Review, mapped
See how the six recommendations translate into practical AI governance.
Download the briefing
Map the Mills Review against your firm
In a 30-minute briefing, our team will map the Mills Review’s recommendations against your current governance approach and show where Aveni can support stronger oversight today.