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FCC Analytics taps Airstar and livi bank for federated learning AML
The initiative aims to enhance interbank cooperation whilst maintaining data privacy.
FCC Analytics has entered into a memorandum of understanding with digital banks Airstar Bank and livi bank to implement federated learning technology for anti-money laundering purposes.
The collaboration aims to strengthen interbank cooperation whilst maintaining data privacy, aligning with the Hong Kong Monetary Authority's push to integrate artificial intelligence into monitoring for suspicious financial activities.
It also aims to bolster the monitoring process, allowing banks to reduce operational costs associated with traditional anti-money laundering methods.
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