FCC Analytics to Venture into Indian Financial Markets with AI-Driven Solutions

FCC Analytics, a Hong Kong-based company, announced its intention to expand into the Indian financial markets, focusing on technology-driven solutions for suspicious transaction monitoring. According to Rico Tang, Chief Corporate Development Officer, this move aligns with India's ongoing digitization efforts.

The company, already established in Hong Kong, Singapore, and Australia, provides services such as AI-enabled Know Your Customer (KYC) configurations, Anti Money Laundering (AML) solutions, and customer due diligence. These are integral to monitoring transaction activities, Tang remarked during the Hong Kong FinTech Week.

Highlighting the growing challenge of money laundering, which amounts to 1-2 percent of the global GDP annually, Tang emphasized the limited recovery due to the complexity of transaction networks. FCC Analytics applies AI tools for enhanced monitoring and is exploring the Indian market further while participating in a pilot programme, Federated Learning, funded by the Hong Kong Monetary Authority to advance AML capabilities without exposing sensitive data.