Hong Kong’s central business district. Some of the city’s banks are using machine learning and artificial intelligence to help detect suspicious behaviour and patterns, and have also enhanced the overall effectiveness and efficiency of banks’ transaction monitoring processes. Photo: Roy Issa

Hong Kong Monetary Authority’s ‘regtech’ push raises transparency concerns at financial institutions

De facto central bank backs broader use of technology in regulation but machine learning and artificial intelligence pose questions about opaqueness of processes

Topic |   Banking & Finance

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Hong Kong’s central business district. Some of the city’s banks are using machine learning and artificial intelligence to help detect suspicious behaviour and patterns, and have also enhanced the overall effectiveness and efficiency of banks’ transaction monitoring processes. Photo: Roy Issa
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