Privacy enabled Financial Text Classification using Differential Privacy and Federated Learning
Priyam Basu, Tiasa Singha Roy, Rakshit Naidu, Zümrüt Müftüoğlu
Abstract
Privacy is important considering the financial Domain as such data is highly confidential and sensitive. Natural Language Processing (NLP) techniques can be applied for text classification and entity detection purposes in financial domains such as customer feedback sentiment analysis, invoice entity detection, categorisation of financial documents by type etc. Due to the sensitive nature of such data, privacy measures need to be taken for handling and training large models with such data. In this work, we propose a contextualized transformer (BERT and RoBERTa) based text classification model integrated with privacy features such as Differential Privacy (DP) and Federated Learning (FL). We present how to privately train NLP models and desirable privacyutility tradeoffs and evaluate them on the Financial Phrase Bank dataset.