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Prospects of Achieving Faster Financial Inclusion Through Artificial Intelligence


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1 Odisha State Association of Financial Inclusion Institutions (OSAFII), Bhubaneswar, India
     

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The access to financial services can be restricted by various regulatory requirements that cannot be fulfilled. In more established markets, services may be widely available but access is hampered by complicated terms, limited transparency and poor usability. Technology today offers a range of solutions to problems related with financial inclusion. The innovations outlined in this paper aims to use select examples to demonstrate how greater financial inclusion can be achieved by building innovative business models and applying appropriate technology through artificial intelligence to deliver different types of financial services to individual customers and small businesses. As we discuss different types of efforts to expand financial services, we broadly define financial inclusion as costeffective means of managing their financial lives effectively.

Keywords

Regulation, Transparency, Artificial intelligence.
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  • Prospects of Achieving Faster Financial Inclusion Through Artificial Intelligence

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Authors

Bijay Kumar Swain
Odisha State Association of Financial Inclusion Institutions (OSAFII), Bhubaneswar, India

Abstract


The access to financial services can be restricted by various regulatory requirements that cannot be fulfilled. In more established markets, services may be widely available but access is hampered by complicated terms, limited transparency and poor usability. Technology today offers a range of solutions to problems related with financial inclusion. The innovations outlined in this paper aims to use select examples to demonstrate how greater financial inclusion can be achieved by building innovative business models and applying appropriate technology through artificial intelligence to deliver different types of financial services to individual customers and small businesses. As we discuss different types of efforts to expand financial services, we broadly define financial inclusion as costeffective means of managing their financial lives effectively.

Keywords


Regulation, Transparency, Artificial intelligence.

References