Bairong Inc. (“Bairong”, 6608.HK), a leading independent AI-powered technology platform in China, has officially launched Indra, a groundbreaking secure multi-party computing platform that meets key privacy protection needs in the process of data development. Indra offers a safe and efficient data cooperation model for partners and financial institutions, enabling them to tap into the value of data whilst ensuring compliance with data usage policies and preventing data leakage.
Dedicated to exploring the applications of AI and big data in the financial sector, Bairong pays close attention to data security and privacy protection. Indra was engineered by the company’s team of AI experts, and integrates industry-leading technology for data collection and privacy protection to realize an innovative solution suited to a number of financial application scenarios.
“Indra is the culmination of Bairong’s years of experience in data analysis for financial institutions. We built the platform upon the foundations of secure multi-party computing and Federated Learning, while tailoring its features specifically to the needs of big data applications in the finance sector. With Indra, we truly believe that we have developed a groundbreaking AI risk control platform that ensures both data availability and privacy for all parties,” said Shaofeng Zhang, Founder and CEO of Bairong.
Indra can be used for numerous financial big data application scenarios, including blacklist matching for banks and other institutions. The platform is home to a centralized display of multiplatform loan lists and blacklists from multiple partners, which a financial institution can freely choose from to match against its own list.
Harnessing Federated Learning, Indra supports highly accurate online prediction models based on powerful private set intersection (PSI) cryptography techniques. This feature can be used to calculate the results of respective financial models by matching user IDs from different parties without revealing personal information. This same technology also enables secure joint modeling using data sets from multiple parties.
Unlike traditional data platforms, Indra only acts as an intermediary for data sets and does not own any of the information housed on its platform. As a result, Indra fully protects data security for all parties involved and eliminates the risk of illegal data transactions. By allowing all parties to safely and securely upload their data sets without fear of data leakage, Indra empowers organizations to truly harness the power and value of data.
Combining cutting-edge software and hardware technologies, including AI, cryptography and blockchain, Indra supports secure multi-party data processes that are both fully available and invisible. In breaking down traditional barriers to releasing sensitive information, Bairong’s revolutionary solution enables providers and organizations to safely and securely harness the value of data without limitations. The platform has already garnered extensive interest across a range of industries and organizations, from large financial institutions to tech companies, internet giants and government departments.
About Bairong Inc.
Founded in March 2014, Bairong is a leading independent AI-powered technology platform in China serving more than 4,800 financial services provider clients. Bairong was the largest independent financial big data analytics solutions provider in China by revenue in 2019. Adhering to the mission of empowering every financial services provider in China with smart and comprehensive data analytics, Bairong has built a cloud-native technology platform that supports the full business cycle of FSP clients, including pre-lending risk management, post-lending monitoring, NPL management and insurance risk management, enabling them to reduce exposure to fraud and improve their risk management effectiveness. Bairong also provides big data marketing and distribution services that enable FSP clients to reach and serve their target customers more effectively.
Source: Bairong Inc