Automated decision-making

The Financial Stability Authority (FFSA) uses an automated decision-making procedure to make deposit guarantee compensation decisions for individual depositors. This means that the compensation decision can be made automatically, either entirely or partially. This page explains what this means.

What does the automated decision-making procedure refer to?

An automated decision-making procedure means that a person does not participate in the decision-making process. The case is resolved by automated data processing.

What does the procedure mean for the depositor?

Automated decision-making allows the depositor to receive their compensation decision very quickly in the event of bank insolvency.

The FFSA has a legal obligation to pay compensation for guaranteed deposits to depositors within seven working days of the bank’s insolvency. Without automated data processing and the automated decision-making procedure, it would not be possible to issue compensation decisions and complete the payment process in seven working days.

The depositor will be informed through the compensation decision if the decision in question has been made using the automated decision-making procedure.

If the depositor is not satisfied with the compensation decision, the depositor shall have the right to seek a review of the decision. The automated decision-making procedure will not be used when processing claims for a revised decision. These claims are always resolved by a person.

What matters do we solve automatically?

The use of the automated decision-making procedure has been decided upon by the FFSA’s implementation decision, automated processing of deposit guarantee compensations. The implementation decision explains the basis on which the automated decision-making procedure has been implemented and the laws that apply to the procedure.

More information on the automated decision-making procedure at the FFSA

More information on the automated decision-making process, such as the implementation decision, is available from FFSA specialists. Instructions for contacting us as well as more information on deposit guarantee are available on the FFSA website.