article thumbnail

Swift and Google Cloud Join Forces to Combat Fraud with AI Innovations

Fintech News

This will enable collaborative intelligence without compromising the privacy or security of sensitive financial data. Federated learning allows participating institutions to train AI models on their own data and share only the learnings, not the data itself, with a central server managed by Swift.

SWIFT 115
article thumbnail

Google Cloud and Swift Pioneer Advanced AI and Federated Learning Tech to Help Combat Payments Fraud

Fintech Finance

This innovative approach uses federated learning techniques, combined with privacy-enhancing technologies (PETs), to enable collaborative intelligence without compromising proprietary data. Heres how it works for Swift: A copy of Swifts anomaly detection model is sent to each participating bank.

SWIFT 95
article thumbnail

RT2: A strategic transformation for UK payment providers

The Payments Association

RT2 is substantially expanding direct participation. A critical limitation of the previous RTGS was its technical ceiling on participant numbers. This proportional approach makes direct participation viable for a broader range of organisations. Expanded access fundamentally changes competitive dynamics.

article thumbnail

NeuroWatt Gears Up to Introduce Its AI Offerings for Finance at GITEX Asia 2025

Fintech News

Built for mission-critical operations, NeuroBrick offers plug-and-go deployment, Tier 3 reliability, and supports scalable edge AI solutions without compromising on security or performance. NeuroWatts participation at GITEX Asia underscores its focus on enabling intelligent, efficient AI ecosystems across the region.

AI 116
article thumbnail

Payment Fraud Goes Mainstream: Sift’s Q1 2025 Digital Trust Index Reveals 89% Surge in Consumer Exposure to Fraud Schemes

Fintech Finance

The report revealed an alarming trend in the democratization of payment fraud: 34% of consumers have seen offers to participate in payment fraud online—an 89% increase over 2024. These configurations equip individuals with the ability to test compromised payment information and login credentials with minimal technical expertise.

article thumbnail

Digital Rupiah Inches Closer with Successful Completion of PoC

Fintech News

For example, the observer node feature implemented during the PoC allowed Bank Indonesia to monitor transactions without compromising participants’ confidentiality. Building Success Through Collaboration Stakeholder engagement was pivotal to the success of the PoC.

article thumbnail

Trusted devices and silent signals could help FIs improve fraud protection

Finextra

Traditional authentication methods rely heavily on static passwords and one-time codes, which can be easily compromised. When additional verification is required, customers now receive clear, contextual notifications that empower them to actively participate in their own security.