Regulators have signalled an interest in adopting explainable AI(XAI)
techniques to handle the diverse needs for model governance, operational
servicing, and compliance in the financial services industry. In this short
overview, we review the recent technical literature in XAI and argue that based
on our current understanding of the field, the use of XAI techniques in
practice necessitate a highly contextualized approach considering the specific
needs of stakeholders for particular business applications.