UOB Partners With Intel For Data Analytics

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November 12, 2018 - posted at finews.asia: The joint project between UOB and Intel set out to use a combination of leading technology and advanced data analytics to provide greater clarity about the extent of transactions made across countries and entities by a single client, the two companies said on Monday in a media release.

As cross-border transaction data sit in multiple localities, maintaining data sovereignty and determining the risk of money laundering across geographies can be difficult and complex.

Independent Observers

UOB is the first in the world to pilot federated analytics using Intel Xeon Scalable processors with Intel Trusted Execution Technology and advanced analytics for cross-border AML efforts.

For the project, UOB created scenarios and corresponding datasets to simulate transactions by a customer with bank accounts in Singapore and Thailand. The Monetary Authority of Singapore (MAS) and the Bank of Thailand were independent observers of the project. More...