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The rise of generative AI in payment security: A double-edged sword for data privacy

The Payments Association

The dual impact of generative AI on payment security, highlighting its potential to enhance fraud detection while posing significant data privacy risks. It underscores the need for payment firms to balance AI innovation with robust privacy and regulatory compliance to protect sensitive consumer data. Why is it important?

Privacy 88
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Swift and Google Cloud Join Forces to Combat Fraud with AI Innovations

Fintech News

The partnership will leverage advanced AI and federated learning techniques combined with privacy-enhancing technologies (PETs) and Trusted Execution Environments (TEEs). This will enable collaborative intelligence without compromising the privacy or security of sensitive financial data.

SWIFT 113
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Google Cloud and Swift Pioneer Advanced AI and Federated Learning Tech to Help Combat Payments Fraud

Fintech Finance

The partnership: Google Cloud and Swift Google Cloud is collaborating with Swift along with technology partners including Rhino Health and Capgemini to develop a secure, privacy-preserving solution for financial institutions to combat fraud. This is a global epidemic that demands a collaborative effort to achieve meaningful change.

SWIFT 95
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Adyen opts for build over buy

Payments Dive

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Privacy 107
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Digital Rupiah Inches Closer with Successful Completion of PoC

Fintech News

The Money Supply Process at wRD The PoC involved 55 detailed test scenarios that evaluated platform performance in resilience, privacy, scalability, and fault tolerance. The PoC findings also revealed the potential for incorporating advanced features, such as zero-knowledge proofs, to enhance transaction privacy.

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Payrails raises $32 million

Finextra

Please read our Privacy Policy. Sponsored [New Whitepaper] PaaS, cloud and instant payments: Navigating the outsourcing question Share Related Company Payrails Channels /retail banking /payments Comments: (0) Sign in to comment Related news /payments Payrails raises $14.4m We use cookies to help us to deliver our services.

Privacy 115
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What’s Next in Payments: A Memo to the GenAI Companies

Stax

With a tone that mixed caution and optimism, he stressed how crucial transparency is, especially when it comes to data usage and privacy. “We need to make sure that we understand where our data is going so we can try to eliminate the privacy concerns and making sure that people aren’t training on our data.”