Ping An Digital Bank Completes HKMA’s Second GenA.I. Sandbox Cohort
- Written by: Telegraph Magazine
") Sandbox, in partnership with Hong Kong Cyberport Management Company Limited. Through the sandbox, Ping An Digital Bank further strengthened its capabilities in detecting deepfake-related fraud, and explored the potential of an "A.I. vs A.I." defense strategy, sharpening its fraud detection accuracy and enhancing customer protection.
Mr. Ronald Iu, Chief Executive of Ping An Digital Bank, said, "Ping An Digital Bank is honoured to participate in the HKMA's second GenA.I. Sandbox cohort. The sandbox serves as an invaluable testing ground for banks to explore financial technology. Throughout the process, we received valuable guidance from the HKMA and shared practical experience with industry peers, advancing the development of anti-fraud efforts across the sector. This project successfully validated GenAI's potential in deepfake detection, providing deeper insights into how AI identifies forged or synthetic faces across various scenarios. Sandbox testing results demonstrated a detection accuracy of over 96%. We believe the experience gained will help strengthen the industry's ability to counter deepfake fraud, and build a more robust defence mechanism."
Developed in partnership with OneConnect Financial Technology, the Anti-Fraud Strategy Platform leverages the proprietary technology of Ping An Group and OneConnect. The project focused on evaluating the platform's accuracy in detecting deepfake technologies. By integrating cutting-edge A.I. facial recognition into the identity verification process, the platform verifies user selfies in real time to flag suspected forged or manipulated faces. This capability empowers teams to proactively monitor and prevent fraud, elevating the Bank's overall risk management framework.
Looking ahead, Ping An Digital Bank will continue to leverage the technological edge of Ping An Group, increase its investment in A.I., and deepen the application of A.I. in daily operation, such as risk control and product innovation. The Bank remains dedicated to delivering a seamless, secure, and intuitive banking experience, striving to become the "user-friendly digital bank" in the mind of every customer.
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Ping An Digital Bank
Ping An Digital Bank (International) Limited ("Ping An Digital Bank," "PingAnDB") is a wholly-owned subsidiary of Lufax Holding Ltd ("Lufax") (SEHK: 6623; NYSE: LU) and a member of Ping An Insurance (Group) Company of China, Ltd. ("Ping An") (SEHK: 2318; SSE: 601318). Ping An Digital Bank was granted a banking licence by the Hong Kong Monetary Authority in May 2019 to offer retail banking and business banking services. Backed by Ping An's advanced technology, Ping An Digital Bank is elevating banking experience, serving customers in Hong Kong and the Greater Bay Area, establishing itself as Ping An Group's integrated financial platform in Hong Kong.
