Author Name: Dion Suen – Marketing Analyst at FreightAmigo
FreightAmigo is honor to be shortlisted by the Hong Kong Applied Science and Technology Research Institute (ASTRI) as 1 out of 4 companies (including Standard Chartered, PAOB and OpenRice) to join their Federated Learning project. We hope to optimize the management of capital and liquidity in the supply chain for SMEs through applying technologies in this collaboration.
FreightAmigo applies “Federated Learning”, a privacy-preserving technology, and develops artificial intelligence models in order to facilitate SMEs’ financing and provide a more comprehensive credit analysis for them. Financial institutions could refer to this after the generation of encrypted parameters. Differing from traditional machine learning methods, Federate Learning avoids transforming data directly to the central database. This could prevent privacy leakage and largely reduce the risk. Data partners and financial institutions could co-create a credit evaluation model by merging the encrypted parameters. Under this strict process, both sides are not able to identify or access to customers’ personal information and enterprise information. Only by enterprises’ application for financing and agreeing authorization from enterprises can the institutions acquire the information for credit analysis. Dr Denis Yip, the Chief Executive Officer of ASTRI, expressed that using encrypted parameters for credit evaluation in Federated Learning helps to reduce cost and boosts financing.
FreightAmigo looks forwards to the collaboration with ASTRI. We hope to promote credit analysis and SMEs’ financing through using new technologies in the Federated Learning project.
Thank you for media’s interview:
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