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Financial Inclusion: AfDB Finances Artificial Intelligence Claims Management System in Ghana, Rwanda, Zambia

08/02/2021
Categories: Economy/Forex

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The African Development Bank has funded a project to manage customer complaints using artificial intelligence on behalf of the national banks of Ghana, Rwanda and the Free Competition and Consumer Protection Commission of Zambia. The US$1.024 million was approved on December 17, 2020.

The financial support is intended for the implementation of a claims management system for the regulators benefiting from the system, based on the use of multilingual sculpins and artificial intelligence.
The project will record complaints from financial services customers, including illiterate customers (via audio), and track their processing by financial service providers (FSPs).
Ultimately, the project will better monitor the handling of complaints from financial services customers; strengthen care for marginalized groups, thereby strengthening trust in the ecosystem and the use of financial services; and to develop the collection of consistent data for consumer protection policy-making.
The financing was supported by the AfDB Group's Facility for Digital Financial Inclusion in Africa (ADFI) Special Fund. The solution will be developed by Sinitic Africa, a subsidiary of Sinitic SA, a Canadian-based FinTech company, in collaboration with BFA, a leading consulting firm in regulatory and other research.
About ADFI
The Facility for Digital Financial Inclusion in Africa (ADFI) is a pan-African instrument designed to accelerate digital financial inclusion across Africa, with the aim of ensuring that an additional 332 million Africans, 60% of whom are women, have access to the formal economy. The Board of Governors of the African Development Bank approved the instrument for the establishment of the ADFI Special Fund in May 2018 at the Annual Meetings of the African Development Bank Group held in Busan, South Korea. ADFI's donors are the French Development Agency (AFD), the Ministry of Economy and Finance of the French Republic, the Ministry of Finance in the Grand Duchy of Luxembourg, the Bill and Melinda Gates Foundation and the African Development Bank which also hosts the fund.
About Sinitic
Sinitic is a FinTech company under Canadian law created in 2017. Its activities are focused on the development of localized solutions to improve the customer experience through Artificial Intelligence (AICX), to share the benefits of conversational artificial intelligence (AI) with the five billion non-English speakers - regardless of gender, geographical location, income and level of education. Sinitic operates in a number of countries, including Canada, China, Malaysia, Malta, Rwanda and India. In 2019, Sinitic SA created Sinitic Africa (Pty) Limited which is a special purpose entity, to meet the need for rapid customer complaint management solutions for African central banks. Sinitic Africa (Pty) Limited is a company incorporated under the laws of South Africa 100% owned by Sinitic SA.

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