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Zhang Qiang, lingchuang Zhixin: the healthy development of Southeast Asian financial system can not be separated from artificial intelligence

on July 24, the "wo13, contraction and twists" experiments with high influence in the field of global artificial intelligence can be operated with reference to the above items. The rld AI show was held in Singapore, the Southeast Asian financial technology center, so the strain gauge was connected to the measuring circuit. Government representatives, enterprise representatives from many countries and regions around the world and more than 300 senior experts in the field of artificial intelligence gathered together to discuss the revolutionary applications that artificial intelligence technology is bringing to governments, enterprises and other large organizations. Lingchuangzhixin, an artificial intelligence enterprise that has been deeply involved in the Southeast Asian market for many years, was invited to attend the conference. Zhang Qiang, the general manager, focused on sharing the theme of "artificial intelligence is the key to improving the productivity and risk management of Southeast Asian financial service industry"

Singapore is one of the countries with a high penetration rate of artificial intelligence applications. A survey shows that 50% of the telecommunications, insurance, finance, it and retail industries in Singapore have applied AI technology, and another 31% of the enterprises that have not yet applied AI technology also plan to gradually launch it in mid-2019. Relevant departments in Singapore predict that by 2035, the total output value of artificial intelligence applications in 11 key industries will reach 215billion US dollars. There is no doubt that the financial industry is one of the most important application fields of artificial intelligence, especially in Southeast Asia

according to the survey data of Crowe whiteclark hill, a tax and consulting company, in 2018, the losses caused by fraud in the global financial industry amounted to 3.24 trillion pounds (about 4.04 trillion dollars), which is equivalent to the combined GDP of Britain and Italy. Too high humidity in Southeast Asia will weaken the wear mark field, which is a high incidence of fraud. In April this year, swift, the global payment network, found that 83% of all the fraudulent transactions studied last year and this year were funded through the Bank of Southeast Asia

Zhang Qiang, general manager of lingchuang Zhixin, said: artificial intelligence technology can not only greatly improve productivity and promote future economic development, but also is a key technology necessary for banks, credit and other financial institutions to pursue risk aversion and compliance protection

anti fraud is the primary task of the bank's technical front

in Southeast Asia, fraud is a particularly thorny problem, and combating fraud is the most prominent problem faced by major banks and credit institutions

there are two main reasons why Southeast Asia is prone to "fraud risk": one is that there are difficulties in user identification, and the other is that it is difficult to find out the credit status of users

for example, for the problem of identity recognition, since the quality standards of identity cards currently used in some regions of Southeast Asia are not uniform, identity information may be copied, and multiple SIM cards will be configured with multiple identity information. If financial institutions do not properly identify users, it will increase the fraud risk of "non compliant users"

in terms of credit investigation, the development of financial system in Southeast Asia started late, the holding rate of bank accounts and credit cards was low, and the information among institutions was lack of correlation, making it difficult to achieve unified and centralized credit investigation management, resulting in the lack of relevant technology and data in risk control and credit investigation; At the same time, it is difficult to know that there are common long loans to users. Therefore, financial institutions cannot accurately judge the applicant's repayment ability and risk situation

however, the success rate of fraudsters has been greatly reduced as the innovative technology of artificial intelligence has been gradually applied in financial institutions

pinpoint the root cause of the problem and realize "anti fraud"

the intelligent technology of Jinan assaying plastic bending tester helps financial institutions realize risk avoidance and compliance, which directly points to the root cause of the problem: know your customer (KYC) and credit score. Simply put, as long as the user's identity can be accurately identified and the credit status of the user can be understood, a solid "anti fraud" barrier can be established

in KYC, face-to-face authentication is being replaced by face recognition technology driven by artificial intelligence. This not only eliminates the need for manual authentication, but also reduces errors, simplifies the process and saves costs

at present, e-kyc solutions include OCR (optical character recognition technology), in vivo detection, face comparison and risk face services. OCR can identify the applicant's identity card information and compare it with the official database; Conduct live detection synchronously, and compare the face recognized from the live body with the face on the ID card to determine whether it is consistent. Through this overall solution, we can basically judge whether the applicant is himself or not, whether he has legal identity, and give risk control decisions

at the same time, AI can also conduct cross verification of blacklist data among multiple judicial data sources in real time. As long as the identity with "fraud" records in the past can be marked as a risk by the system, so that financial institutions can prevent it in advance

in terms of credit assessment, artificial intelligence also goes beyond the traditional modeling methods and provides a more comprehensive overview of risk assessment

The scoring system of

includes credit score, fraud score and multi head score. It is a comprehensive and multi-dimensional assessment of personal credit risk based on local million level data, using advanced machine learning methods and rich data resources. In addition to specific credit scores, the scoring product also outputs significant features that play an important role in the modeling process, helping credit institutions better conduct risk assessment and decision-making

from several years of practical experience, after the gradual application of artificial intelligence "anti fraud" technology, the area most seriously affected by credit fraud is gradually reducing fraud

compliance "new users" serving "invisible credit"

for financial institutions, the purpose of "anti fraud" is to isolate dangerous users with "fraud" motives from the security zone. However, to improve the level of financial business, it is also necessary to continuously attract new users with real needs and security compliance. In this regard, artificial intelligence can also provide great support

artificial intelligence is based on cloud big data. Relying on advanced big data technology and combined with multi-dimensional data, it can accurately identify and verify users' identity information. This allows banks to assess the risks of all individuals and institutions more accurately before approving loans or credit cards

at the same time, the introduction of artificial intelligence related methods enables credit scoring to accurately judge the credit status of users, and individuals and small businesses that were not fully served before can now get better services

therefore, in addition to risk and compliance, artificial intelligence can indirectly help financial institutions solve the challenges posed by "invisible credit" customers (customers who do not enjoy banking services or do not have enough banking services). The increase of compliance users will further improve the performance of financial institutions

for these reasons, Zhang Qiang believes that artificial intelligence is an indispensable part of the healthy development of banking and financial services in Southeast Asia

at present, it has served hundreds of enterprise level customers in Indonesia, the Philippines, Vietnam and other Southeast Asian countries, and has transferred hundreds of millions of products. It has also completed its strategic layout in the Indian market. With its profound accumulation and innovative R & D capability in the field of risk control technology, as well as its rich landing experience in overseas markets, our services have covered Internet finance, banking, e-commerce, shared travel and other fields

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