CGAP’s Post

So many financial services providers are sleeping on a gold mine of data about how they are performing in the eyes of their customers. No one "likes" complaints, but why not think of it as free consulting advice? If people are all complaining about the same thing, maybe instead of telling them why they're wrong or explaining your plan from the inside out, or santizing your social media, maybe...listen.🤔 Watch how these very complaints are being leveraged using AI, to protect the underserved. Want to take it a step further? I did. I went under a financial institution's Facebook account, I copied all the comments (most were complaints 😅) and I pasted it into an AI chat and asked it to analyze the data and represent using a simple bar chart, the top 5 sources of dissatisfaction....immediate insight. The opportunity is there to put your "consultants" to work. Innovation (in the eyes of your customer, not yours) and compliance can live in the same house.

💡 AI / NLP can help identify, understand and measure consumer risks associated with all types of digital loans in real time. Check the clip below to learn more of our pilot on this topic. And some findings and guidance based on this pilot are available in our Responsible Digital Credit collection. And we're working hard to identify more solutions to promote #ResponsibleLending

How can we use #AI tools to protect low-income people from unfair debt collection and other risks? CGAP piloted an AI-powered tool in #India to assess consumer risks in #DigitalCredit by quickly analyzing large amounts of social media posts from customers. Once set up, supervisors can use these systems to track complaint trends in real-time at low cost. Watch now to learn more👇 #InclusiveFinance

With advances in AI pushing the bounds of what machines can and should do, banks and insurers are exploring how to safely maximize AI’s potential. With the participation of EY, Tapestry Networks recently brought together the Financial Services Leadership Network of #banking and #insurance executives and SMEs from large tech companies to discuss how they are pursuing a sound AI strategy. Follow along with their latest dialogue. #AI #GenAI #financialservices #digitaltransformation

With advances in AI pushing the bounds of what machines can and should do, banks and insurers are exploring how to safely maximize AI’s potential. With the participation of EY, Tapestry Networks recently brought together the Financial Services Leadership Network of #banking and #insurance executives and SMEs from large tech companies to discuss how they are pursuing a sound AI strategy. Follow along with their latest dialogue. #AI #GenAI #financialservices #digitaltransformation

With advances in AI pushing the bounds of what machines can and should do, banks and insurers are exploring how to safely maximize AI’s potential. With the participation of EY, Tapestry Networks recently brought together the Financial Services Leadership Network of #banking and #insurance executives and SMEs from large tech companies to discuss how they are pursuing a sound AI strategy. Follow along with their latest dialogue. #AI #GenAI #financialservices #digitaltransformation

Three critical use cases, for Gen AI in Payment Systems. Read more on our site: https://lnkd.in/djEJq-FM #iso20022 #payments #aplonhub #FINaploAI #BankingAI #LLM #chatgpt #generativeai #PaymentComponents

🤖 AI MEDIATED BY HUMANS 🧑 When we talk about AI, there is always some resistance and mistrust about the results generated. Especially when we talk about the banking sector, where we are dealing with a very important asset for people: their money. 💡In Joao Jarego's opinion, the future lies in AI mediated by humans. In other words: AI will be used by professionals to optimise their operations, but they will curate the AI results and communicate the final decision to their clients. ⚠️ Although some operations, such as sending alerts or checking balances, can be carried out by pure AI (through chatbots, for example), we must be careful with operations that involve more significant liability, such as financial advice. What is your opinion? Would you use the results of AI directly, or would you prefer to have a human in the loop? Let us know in the comments ⤵️ Want to know more? Check the full conversation with João Jarego here ➡️ https://lnkd.in/gGUh8Hkg #quasinfalivel #newsletter #qinews #qitalks #artificialintelligence #banking #AIbanking #bankingAI #bankinginnovation #AIbot #frauddetection #aialgorithms #aianalytics #processmanagement #softwareprocess #softwaredevelopment #qualityassurance #qualitymanagementsystem #softwareprocessquality #qualitymanagement

I'm really fascinated by the impact of artificial intelligence on the financial sector, as highlighted in this Forbes article. Morgan Stanley's adoption of a new internal AI assistant based on ChatGPT is a prime example. This tool aids financial advisors and staff in accessing a vast repository of research reports, assisting with investment recommendations, business performance analysis, and internal processes. The article also emphasizes how traditional banks can leverage similar AI-driven solutions. Overall, artificial intelligence presents tremendous opportunities for enhancing the banking experience, benefiting both consumers and industry professionals. It's crucial for financial leaders to recognize this potential and invest in AI technologies to propel the industry forward. #AI #Banking #Fintech

Schedule a time to meet with us at #MBAServicing24 and learn how our AI, trained in the language and lifecycle of lending, can resolve your existing pain points>> https://lnkd.in/g2bKsQg7 TRUE Data Verification contextually reconciles data across complete loan pools to ensure the integrity of data in the loans you're onboarding. Avoid loan defects and the risk of offshoring by automating the process within your existing IT system. #AI #lendingintelligence #mortgagetech