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

Conventional fraud detection methods have a hard time keeping up with increasingly sophisticated criminal tactics. Existing systems often rely on the limited data of individual institutions, and this hinders the detection of intricate schemes that span multiple banks and jurisdictions. To better combat fraud in cross-border payments, Swift, the global provider of secure financial messaging services, is working with Google Cloud to develop anti-fraud technologies that use advanced AI and federated learning.