TechTouch Asia

Source: FCC Analytics. Front row, from left: Henry Yu, Chief Compliance Officer, Airstar Bank; Wallace Chow, Founder & CEO, FCC Analytics; and Ada Yuen, Chief Risk Officer, livi Bank. Back row, from left: Sunny Xu, Head of Financial Crime Compliance, Airstar Bank; Luke Ng, CTO, FCC Analytics; and Karen Kwok, Head of Financial Crime Compliance, livi Bank. Regtech firm FCC Analytics has signed a memorandum of understanding (MoU) with Airstar Bank and livi bank, two digital banks in Hong Kong, to adopt federated learning technology for anti-money laundering (AML). This initiative enhances the banks' ability to meet compliance requirements, strengthens the monitoring process, and reduces the operational costs associated with traditional AML methods. Wallace Chow, Founder and CEO of FCC Analytics said: “Our vision is to support banks in combating financial crime by driving a peer-to-peer federated learning network across the Asia Pacific for various collaborative purposes.” He...