OneDegree Global, a Singapore-based provider of cybersecurity and risk management solutions, has teamed up with Taishin Bank, one of the biggest commercial banks in Taiwan, for a proof of concept.
According to a statement from OneDegree Global, the goal of this partnership is to verify that Taishin Bank’s specialized artificial intelligence (AI) system, “Taishin Brain,” complies with the rules set forth by the Taiwan Financial Supervisory Commission (FSC) for the application of AI in the financial sector.
As a result, Taishin Bank is now the first financial institution in Taiwan to use a responsible AI system.
The statement claims that the significance of compliance and security in AI systems has increased as global AI regulation and compliance—including the recent AI guidelines released by regulators across Asia, the EU AI Act, and the ISO 42001 standard for AI Management Systems released at the end of 2023—have grown.
To train and validate its AI model, Taishin Bank’s “Taishin Brain” combines the financial and regulatory compliance dataset with its own proprietary data and knowledge base.
This is the first large-scale Traditional Chinese language model ever created that complies with international AI governance guidelines.
Read also- India-Based KindLife has Secured $8 Million in Series A Round Funding
The system integrates with internal access control systems to safeguard data security and privacy while processing a variety of data kinds, including forms, photos, and customer service records. It does this by utilizing financial-specific GPT.
To confirm the fairness, security, and privacy protection of the AI model, OneDegree’s cybersecurity division, Cymetrics, employs cutting-edge AI red team and testing solutions in compliance with the FSC’s criteria.
Read also- Singapore-Based UnaBiz has Secured $25 Million in Pre-Series C Round Funding
Prior to launch, extensive and thorough testing guarantees the safety and integrity of the AI system by utilizing the most recent AI attack strategies and approaches.
In order to detect and reduce inherent risks early in the development process, Cymetrics now integrates these testing methods with workflows for machine learning operations (MLOps). This allows testing to occur at every stage of development, from model deployment to system go-live.
“In the process of AI adoption, Taishin Financial Holding prioritizes information security and privacy, operating under ethical and transparent standards,” said Steve Sun, Chief Investment Offier of Taishin Financial Holding. According to him, this ensures compliance with regulatory requirements and, with the support of excellent partners, establishes a responsible AI system. This commitment is central to Taishin’s AI development strategy,” he added.
OneDegree Global is a top technology firm that provides insurers and businesses with Cymetrics cybersecurity services and IXT modern insurance core solutions. The company was founded in Singapore and has offices around Asia.
Stanley Chou, Chief Investment Officer of OneDegree, commented, said they are delighted to collaborate with Taishin Bank, assisting in the AI validation of ‘Taishin Brain,’ and leading the way in establishing Taiwan’s first responsible AI system in the financial sector. As the regulatory environment evolves, Cymetrics will support clients in managing AI risks and regulations, ensuring their AI investments are secure, ethical, and compliant,” he added.
About Taishin Bank
Taishin International Bank is one of Taiwan’s leading commercial banks. A completely owned subsidiary of Taishin Financial Holdings.
About OneDegree Global
OneDegree was founded in 2016 to speed insurance technology and make insurance more accessible. Hong Kong, Taipei, Shenzhen, and Singapore are OneDegree locations.
