A Checklist for explainable AI in the Financial Sector

Authors Martin van den Berg , Yvette van der Haas , Ouren Kuiper , Marieke M. Peeters
Publication date 24 November 2022
Research groups Artificial Intelligence
Type Other publication types


This white paper is the result of a research project by Hogeschool Utrecht, Floryn, Researchable, and De Volksbank in the period November 2021-November 2022. The research project was a KIEM project1 granted by the Taskforce for Applied Research SIA. The goal of the research project was to identify the aspects that play a role in the implementation of the explainability of artificial intelligence (AI) systems in the Dutch financial sector. In this white paper, we present a checklist of the aspects that we derived from this research. The checklist contains checkpoints and related questions that need consideration to make explainability-related choices in different stages of the AI lifecycle. The goal of the checklist is to give designers and developers of AI systems a tool to ensure the AI system will give proper and meaningful explanations to each stakeholder.

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Language English
Key words Explainable AI, Financial Sector, AI

Martin van den Berg