AI for Financial Inclusion
Digital payments are an “on-ramp” to financial inclusion and Visa has spent the last 60 years connecting hundreds of millions of people and organizations to a global system that enables fast, safe, and reliable financial transactions. In 2015, Visa publicly committed to provide payments accounts to another 500 million people who do not use banking services, as part of the World Bank’s call for Universal Financial Access by 2020, and we are excited to pursue this marvelous goal. AI and machine learning are embedded in Visa's products and infrastructure and are used to identify and prevented billions of dollars in fraud, maintain our infrastructure, and develop new value-added services. Machine learning has the potential to identify and prevent bias in personalized services and enable new solutions to provide access to financial services such as credit scoring for unbanked populations safely and ethically.
The workshop will cover the following issues:
- Background and cases on financial inclusion and trends in Asia and the Pacific
- New AI methodologies that leverage data and its application for financial inclusion
- Model AI governance frameworks for AI accountability and ethics for digital payments