With the rapid increase of cross-border transactions and growth in instant payment networks, the financial services industry is focusing on fighting fraud that can cost hundreds of billions annually. As the leading infrastructure provider for financial messaging services, Swift has long worked with its community of over 11,500 institutions to drive new ways to detect and catch fraudulent transactions. And now it is working with Microsoft to innovate further in the fight against financial crime. Using federated learning techniques along with Azure Machine Learning and Azure confidential computing, Swift and Microsoft are building an anomaly detection model for transactional data—all without copying or moving data from secure locations. The shared vision is that the model will become the new standard for reducing financial crime while achieving the highest level of security, privacy, and cost efficiency.
Read the full story at https://aka.ms/swift-azure
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Duration: 00:02:51
Publisher: Microsoft Cloud Platform
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