On October 15 2025, PAObank Limited, a wholly‑owned subsidiary of Lufax Holding Ltd, was selected to join the Hong Kong Monetary Authority’s second cohort of the Generative Artificial Intelligence (GenAI) sandbox together with OneConnect Financial Technology. The partnership, conducted in collaboration with the Hong Kong Cyberport Management Company, allows the two firms to test and refine an anti‑fraud platform that leverages advanced AI to detect deepfake fraud.
The sandbox platform uses AI‑powered facial recognition to verify user selfies in real time, identifying forged or synthetically generated faces. By operating within the controlled sandbox environment, PAObank and OneConnect can enhance the platform’s ability to detect deepfake technologies, thereby strengthening risk management and customer protection for the bank’s retail and SME banking services.
For Lufax, participation in the HKMA sandbox signals regulatory approval to experiment with cutting‑edge AI tools. The initiative aligns with the company’s strategy to deepen its technology moat and reduce fraud losses, which can improve asset quality and profitability across its consumer finance and lending businesses.
The platform has already achieved a 99 % success rate in defending against deepfake threats, and by mid‑2025 OneConnect had served 214 enterprises across 21 countries. This milestone positions Lufax to offer enhanced security to its customers, supporting the growth of its consumer finance segment and reinforcing its partnership with Ping An Group’s AI capabilities.
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