Core Insights - PAO Bank Limited and OneConnect Financial Technology have been selected for the second cohort of the HKMA's Generative AI Sandbox to develop an "Anti-Fraud Strategy Platform" that utilizes advanced AI for deepfake fraud detection [1][2] - The platform aims to enhance risk management and customer protection by employing AI-powered facial recognition to verify user identities in real time [1][2] - Ping An Group has established itself as a leader in AI development, serving approximately 247 million individual customers and over 4 million corporate clients, with significant data resources to support AI-driven innovations [3][4] Company Developments - PAObank is leveraging technological solutions from Ping An and OneConnect to enhance operational efficiency and productivity, focusing on combating deepfake fraud [2][5] - OneConnect's anti-fraud solution integrates over 25 digital modules, achieving a 99% success rate in defending against deepfake threats and serving 214 enterprises across 21 countries by mid-2025 [4][6] Technological Advancements - By June 2025, Ping An had amassed over 3.2 trillion textual data points and deployed large AI models in over 650 business scenarios, resulting in 818 million usage calls that improved service efficiency and risk mitigation [3][4] - The AI capabilities of OneConnect include advanced facial recognition and deepfake detection, which are fully aligned with the HKMA's e-banking security framework [4][5] Strategic Vision - Ping An is committed to a dual-driver strategy of "integrated finance + health and senior care," focusing on digital transformation through innovation [5][7] - PAObank aims to enhance AI applications in risk management and product development to provide a secure banking experience as a leading digital bank [5][9]