General Bank of Canada is a fast-growing bank that prioritizes an “AI-first” strategy to support risk management as well as the business through the use of machine learning models. Required by regulation to implement a model risk management capability, GBC decided to use an innovative, SaaS-based solution from ValidMind.

The initiative combined this specialized platform with GBC's expert oversight to deliver comprehensive model validation while protecting intellectual property and ensuring regulatory compliance.

General Bank of Canada’s model risk management as a service initiative is instructive for other financial institutions seeking to navigate the complexities of AI-driven decisioning in a regulated environment. As regulatory demands grow, the ability to adapt and innovate in model risk management will be crucial for maintaining compliance and operational integrity and for supporting business growth.

For this initiative General Bank of Canada won the Celent Model Risk Manager Award 2025 for AI and GenAI.

A highlight reel and a one-pager on the initiative are available for everyone.

We also sat down with General Bank of Canada for an inside look at their initiative.

A full-length case study report diving into the initiative is only available to Celent's subscribers. Please log in to access the case study.