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University of Cambridge SupTech Lab selects Proto for AI consumer protection in Ghana and Indonesia

5

min read

Published:
July 26, 2023

Proto, the local communications platform for business and government, has been selected by the University of Cambridge’s Supervisory Technology Lab to deliver a next-generation consumer protection solution for the financial regulators of Ghana and Indonesia. This project aims to empower bottom-of-the-pyramid financial consumers with AI-enabled complaints handling chatbots for local languages, and enhance regulators' powers with real-time consumer sentiment analysis and misconduct alerts.

The solution will be developed for the Bank of Ghana (BOG) and Otoritas Jasa Keuangan of Indonesia (OJK) across >2,300 financial service providers and >141 million financial consumers in the local languages of Bahasa, Javanese, Sundanese, and Twi – as well as their respective mixed and creole languages.

The primary objective of the Cambridge SupTech Lab, with support from the Gates Foundation and Asian Development Bank, is to establish a next-generation consumer protection capability that surpasses known supervisory technology currently used by financial sector regulators. 

Cambridge SupTech Lab Co-Head Matt Grasser said: "Together with the Lab's partnering financial authorities, these [selected] vendors have already begun to make remarkable progress toward a novel set of SupTech solutions. Proto has been a pioneer in AI-driven complaints management and we're excited for this next-generation consumer protection suite, augmented with cutting-edge tech and supervisory data, to unlock impact for Otoritas Jasa Keuangan, Bank of Ghana and our broader community of supervisors."

The solution consists of two main components. Firstly, a chatbot, data warehouse, analytics and case management interface within Proto’s AI Citizen Experience (AICX) platform will be customised to monitor complaint channels and provide visibility to all supervisory departments at BOG and OJK. This component will also integrate into existing channels such as phone calls, walk-ins, and emails for a consolidated complaints handling approach. 

Secondly, the solution will leverage Proto’s web scraping partner Winnow Technologies. Winnow’s web scraping technology will gather public feedback and sentiment regarding financial services via websites and social media apps. This data will be processed by Proto’s AICX platform, with discovery of correlations to the chatbot-generated consumer complaints. This correlated data will then power proactive alerts regarding high-potential misconduct that requires swift regulatory action.

Proto CEO Curtis Matlock said: “This project is an evolution of Proto’s conversational AI deployments for government agencies in Southeast Asia and Sub-Saharan Africa. Beyond delivering citizen protection and recourse access, the solution will achieve its second advancement by leveraging multiple data sources for proactive alerts of misconduct.”

The original government application of Proto’s AICX technology for consumer protection was for the Central Bank of the Philippines in 2019, followed by its sister agencies the Department of Trade and Industry and Securities and Exchange Commission, automating >151,000 qualified complaints across Tagalog, English and Taglish (mix of Tagalog and English) with a focus on manual process reduction with local language chatbots.

The first advancement of the solution was recently for the National Bank of Rwanda, among other African regulators, which integrated the chatbots directly into the digital services of regulated financial institutions to provide maximal access to consumers across >550 financial institutions, with >2 million queries automated.

This second advancement, supported by the Cambridge SupTech Lab, aims to achieve several key outcomes, including improving citizens’ financial literacy, reducing cost and time spent on handling complaints, and leveraging the potential of public feedback and sentiment for identifying misconduct with greater speed and certainty.

About Bank of Ghana

The Bank of Ghana oversees financial policies in the country, working to ensure stability while boosting financial inclusion and growth. It works extensively to expand access to finance to underserved segments of society.

About Proto

‍Proto is the local communications platform for business and government. Proto’s AICX platform is powered by proprietary natural language processing for low-resourced and mixed languages. Proto's expansive CX automation capability and regulatory partnerships maximise customer experience, protection, and lifetime value.

About Otoritas Jasa Keuangan of Indonesia

Otoritas Jasa Keuangan (OJK) is Indonesia's financial services authority, regulating and supervising the financial sector for stability, consumer protection, and inclusive development. It ensures integrity and transparency in banking, capital markets, and insurance industries.

About the University of Cambridge SupTech Lab

The Cambridge SupTech Lab is a research hub at the University of Cambridge focused on applying technology to enhance financial regulatory supervision. It collaborates with industry and regulators to advance supervisory technology (SupTech) and drive innovation in financial oversight.

About Winnow Technologies

Winnow Technologies specialises in leveraging advanced scraping techniques to extract valuable insights from the vast expanse of the web, social media platforms, complaints databases, and other valuable resources. Its innovative approach empowers financial institutions and regulatory bodies to make informed decisions and drive enhanced compliance.

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Written by
Vanessa Babicz

Vanessa is the Chief Operating Officer at Proto. She specializes in digital transformation for emerging markets and multinational project management. To reach Vanessa, please write to her at vanessa@proto.cx.