Jurisdiction(s):
United Kingdom

Key definition

Model definition

What does Model mean? A model is the financial model—usually a spreadsheet-based cash-flow and valuation tool—used to test and evidence the financial viability of a project, development or contract. It is not defined in legislation or case law; it is a descriptive term used across project finance (including PPP/PFI), real estate and planning. In planning practice, a model is often called a viability “toolkit” appraisal and is used to justify affordable housing and other planning obligations (for example, Section 106 agreements in England and Wales, Section 75 agreements in Scotland, Section 76 agreements in Northern Ireland, and planning agreements/Part V arrangements in Ireland). Typical legal uses...

Automated and robo-advice in UK financial services: scope, risks, FCA regulation, standard of care and liability, and market evolution

Published by a LexisNexis Financial Services expert

Practice notes

Automated financial product advisers, often called robo-advisers, are software-driven platforms that deliver financial planning with minimal or no human input. They are appearing across the financial services sector, supporting customers in selecting Investments, banking products and insurance options...

This Practice Note considers the following:

Scope and applications of robo-advisers
Advantages and disadvantages
Risk creation versus risk mitigation
Regulatory framework
Recent FCA Reviews and Key Findings
Legal issues relating to advice provided by robo-advisers
Views from the market
Next phase of robo-advice

Robo-advice is underpinned by artificial intelligence (AI), creating an opportunity for financial institutions to evolve business models that better meet client needs. Banks recognise that they must organise, analyse and use data effectively to reshape and refine those models. This is AI’s promise: improved client experience, efficient risk management and compliance, and greater operational efficiency. The technology enhances speed, accuracy and consistency. As in many sectors, banking clients’ expectations are shifting alongside technological progress, and people now anticipate a more personalised service...

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Web page updated on 21/05/2026

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