Homomorphic encryption is cool technology, but I'm really not sure what problem it solves.
The Swift one is interesting, but I don't understand why the transaction needs to be encrypted, or more specifically why the model can only run in the encrypted part of the pipeline.
Super cool tech, but I guess I just don't see the application yet.
And wow, I worked with Marc a decade ago, small world.
Suggesting alternative approaches to such large corporations is not straightforward. Their IT and security teams cannot afford to risk handling sensitive financial data in plaintext. No manager would readily approve a solution that offers additional functionality at the cost of deviating, even slightly, from well-established compliance practices. Encryption is therefore fundamental to how these systems operate.
The challenge arises when these institutions need to perform computations or checks on such encrypted data. Decrypting the data, even under controlled conditions and with trained personnel, is operationally complex, introduces additional risk, and can create a significant compliance burden.
This is where FHE offers a compelling solution. We demonstrate how a check can be performed directly on encrypted transactions against a known blacklist, without requiring the underlying transaction data to be decrypted.
P.S. It is great to work with Marc :)