Banks unveil AI outcomes under HKMA sandbox scheme

Local banks on Thursday presented their outcomes from participating in the Hong Kong Monetary Authority’s GenAI sandbox, featuring innovations such as anti-deepfake detection and streamlined data platforms. Launched in 2024, the sandbox allows financial institutions to test new operational and customer service scenarios in a controlled environment. The sandbox's second cohort, comprising 27 use cases from 20 banks and 14 technology firms, was selected in October last year and began trial tests early this year. Standard Chartered said it tested a new platform in the sandbox that allows staff to pull client information from complex data sources and generate a comprehensive summary of client issues and investment performance, enabling them to provide better advice. The process takes just one minute – down from four to five hours previously – giving relationship managers far more time to engage directly with clients. HSBC, meanwhile, tested a deepfake detection tool in the sandbox, revealing that none of around 20 deepfake attempts managed to penetrate its security system. The bank also collaborated with the Hong Kong University of Science and Technology to test an AI model that translates text into sign language, aiming to assist hearing-impaired customers on its website and at branch locations. HSBC's Co-Chief Executive for Asia and the Middle East, David Liao, said the bank already has 150 AI specialists in Hong Kong and plans to double the size of that team over the next two to three years. He stressed that the bank remains fully committed to advancing its AI initiatives. “The type of work within HSBC cuts across how we look at public market data. We have many use cases right now that are already in progress, in serving how we deal with securities analytics and how we serve our clients with market insights,” he said, adding that crime prevention is another major use case for AI. Asked about the bank's decision in July to establish a global AI centre in Singapore instead of Hong Kong, Liao said HSBC is an international financial institution with diverse business considerations. He stressed that the SAR remains the decision-making hub for its operations across the Asia-Pacific and Middle East regions. Edited by Edmond Fong

2026-10-15 18:21:00