HKMA Guidance on Consumer Protection when using GenAI

The Guidance has been published with the HKMA’s acknowledgement that although the adoption of GenAI in the banking sector is in its infancy, the technology could be extensively adopted in customer-facing activities.

Information is provided on:

• Governance and accountability;
• Ensuring consistent, ethical and fair outcomes to customers;
• Transparency and disclosures; and
• Data privacy and protection.

Firms in Hong Kong should review the latest HKMA Guidance as the testing and adoption of new GenAI capabilities continues to grow across financial sectors.

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