PAO Bank Limited ("PAObank"), a member of Ping An Insurance (Group) Company of China, Ltd. , together with OneConnect Financial Technology Co., Ltd. , an associate of Ping An, have been selected for the second cohort of the Hong Kong Monetary Authority's ("HKMA") Generative Artificial Intelligence ("GenA.I.") Sandbox, in partnership with Hong Kong Cyberport Management Company Limited. Their joint "Anti-Fraud Strategy Platform" harnesses advanced AI to improve detection of deepfake fraud, strengthening risk management, sharpening fraud investigations, and enhancing customer protection

Within the risk-controlled environment of the sandbox, PAObank and OneConnect will refine the platform's ability to identify deepfake technologies. Using cutting-edge AI-powered facial recognition, the platform will verify user selfies in real time, identifying faces that are forged or synthetically generated. This capability will help detect and prevent fraudulent activities, strengthening the bank's defenses and risk controls.

Mr. Haibin Lin, Chief Technology Officer of PAObank said, "We are proud to join the second cohort of HKMA's GenA.I. Sandbox, working closely with industry peers and regulators to responsibly explore the potential of GenA.I.. Thanks to the innovative technological solutions provided by Ping An Group and OneConnect, PAObank has advanced its AI applications, enhancing operational efficiency and productivity. The experience we gain from this initiative will strengthen the industry's ability to combat deepfake fraud and we are committed to sharing our findings to support wider adoption of GenA.I. technologies across banking industry."