Towards Responsible AI for Financial Transactions

The application of AI in finance is increasingly dependent on the principles of responsible AL These principles - explainability, fairness, privacy, accountability, transparency and soundness form the basis for trust in future AI systems. In this empirical study, we address the first principle by providing an explanation for a deep neural network that is trained on a mixture of numerical, categorical and textual inputs for financial transaction classification. The explanation is achieved through (I) a feature importance analysis using Shapley additive explanations (SHAP) and (2) a hybrid approach of text clustering and decision tree classifiers. We then test the robustness of the model by exposing it to a targeted evasion attack, leveraging the knowledge we gained about the model through the extracted explanation.