Palantir Wins Trial to Mine UK Financial Regulator's Data
US data giant Palantir secured a paid trial to analyze the UK FCA's intelligence data, sparking internal privacy concerns.
Palantir has landed a three-month trial contract with the UK's Financial Conduct Authority, gaining access to the regulator's intelligence data in the name of fighting financial crime. The deal reportedly costs the FCA upwards of £30,000 per week.
The arrangement has triggered alarm bells inside the FCA itself. Staff concerns center on handing sensitive financial intelligence to a US tech firm — raising familiar questions about privacy and data sovereignty.
The trial positions Palantir's analytics platform as a tool for tackling fraud, but the optics are uncomfortable. A foreign private company sifting through a national regulator's confidential data is exactly the kind of arrangement that draws scrutiny.
No word yet on whether the trial could lead to a longer-term contract. For now, the clock is ticking on a controversial three-month experiment.