Consilient Inc. and Harex InfoTech Companion to Battle Monetary Crime in South Korea

WASHINGTON D.C. — Might 8, 2023 — Consilient, a fintech innovator aiming to rework monetary crime compliance, introduced it has partnered with Harex InfoTech, rework the battle in opposition to monetary crime in South Korea. The present applied sciences and strategies for shielding the monetary system are outdated, inefficient andlargely ineffective. By way of the use offederated studying (FL), a revolutionary type of synthetic intelligence (AI), Consilient and Harex InfoTech will remodel enterprise processes and allow dynamic danger administration to stop monetary crime within the South Korean market.

Throughout Republic of Korea President Yoon Suk Yeol’s State go to to america, Consilient and Harex InfoTech signed a  Memorandum of Understanding (MOU) on April 25, 2023, on the Korea-US International “The Evening of International Okay-SMEs” held by the Korean Ministry of SMEs and Begin-ups in Washington D.C.

Republic of Korea President Yoon mentioned,“President Biden and Iwelcomed the growth of our companies’ bilateral mutual funding and superior expertise together with semiconductors, electrical automobiles, and batteries.This cooperation ought to lengthen past semiconductors to future rising applied sciences corresponding to AI, Quantum, SMR (Small Modular Reactors) and extra.”

The Consilient and Harex Infotech partnership kinds a US-Korean AI expertise alliance that may improve the effectiveness and effectivity of Korean monetary establishments in combatting monetary crime.Consilient’s mission to rework the detection of monetary crime globally is matched by Harex InfoTech’s objective of seamlessly enabling funds and business relationships via AI and federated studying.

Consilient makes use of this type of AI, referred to as federated studying (FL), to detect monetary crime extra successfully and effectively whereas concurrently using a brand new design for the “anti-money laundering/countering the financing of terrorism (AML/CFT)” system. By leveraging FL, Consilient trains and optimizes machine studying fashions, whereas preserving information privateness and enabling industry-wide collaboration. This revolutionary community method permits for the sharing of optimized fashions throughout or between organizations – facilitating steady studying, discovery of unseen danger, and the evolution ofAMLcontrols and techniques – withoutever transferring or extracting information.

“Consilient was based to alter essentially how monetary establishments and regulators worldwide forestall monetary crime. By partnering with Harex, Consilient is poised to carry its ground-breaking FL-based resolution to the South Korean market,” mentioned Juan Zarate, co-founder and chair of the board at Consilient. “Along with Harex, we are going to develop an revolutionary mannequin for dynamic monetary crime danger administration within the South Korean market that’s more practical, environment friendly, and safe and can put South Korea on the forefront of innovation on this area.”

With its partnership with Consilient, Harex InfoTech places the person at thecenterof all transactions to create a user-centric platform for firms and establishments to share studying with out transferring the person customers’ information. Consequently, this protects person privateness and enhances information safety by exponentially increasing firms’ use of FL.

“Monetary crime is a significant concern dealing with not solely the South Korean authorities, but additionally the worldwide group,” mentioned Kyung Yang Park, founder, president and chief imaginative and prescient officer of Harex InfoTech. “With our joint expertise and experience in AI, our collaboration with Consilient allows South Korea to be on the cutting-edge of the deployment of this superior technological method to guard its monetary system.”

Be taught extra about Consilient here.

Be taught extra about HarexInfoTech here.

About Harex InfoTech, Inc.

Harex InfoTech introduced the world’s first cell card cost service in Silicon Valley in 2000 and 2013 received the ‘Greatest Expertise Award’ on the Innovation Undertaking 2013 held byPYMNTS.comat Annenberg Corridor on the Harvard College Campus, and is constructing the Person-Centric Hyper-Related Shared Community by sharing the platform with all companies and based mostly on the community created, is making a user-centric new financial order that maximizes person advantages and enterprise earnings with hyper-personalized providers based mostly on Person-Centric AI sharing platform.

About Consilient

Based via a partnership between K2 Integrity ( and Large Oak (, Consilient is the twenty first century reply for best-in-class anti-money laundering and countering the financing of terrorism (AML/CFT) compliance options. 

Consilient’s resolution is a behavioral-based, machine learning-driven utility and governance mannequin design that permits monetary establishments, cost programs, and regulators to extra successfully share insights about dangers and illicit actors in actual time, whereas adhering to privateness protections and information localization restrictions and by no means transferring information. Consilient makes use of federated studying, which permits monetary establishments, associations, and platforms to entry and interrogate information units in numerous databases, establishments, and throughout jurisdictions to find beforehand unknown however present dangers.