Google Cloud and Swift pioneer advanced AI and federated learning tech to help combat payments fraud

Google Cloud, SWIFT, and Rhino Health have joined forces to create advanced solutions aimed at combating payment fraud in the financial industry. This partnership harnesses cutting-edge artificial intelligence (AI) and federated learning technologies, allowing institutions to securely train AI models on decentralized data without sharing sensitive information. Federated learning enhances data privacy while improving fraud detection capabilities across global payment networks.

Chris Laws, Chief Operating Officer of Rhino Health, highlighted the importance of this initiative:

“We are proud to support Swift’s program in partnership with Google Cloud and Capgemini. Fighting financial crime is an excellent example of the value created from the complex multi-party data collaborations enabled by federated computing, as all parties can have confidence in the security and confidentiality of their data.”

This collaboration marks a major step forward in developing robust fraud prevention systems capable of adapting to evolving threats in real-time, safeguarding the integrity of global payment systems, and building trust in financial transactions.

For more details, read the full article on Google Cloud’s blog.