AI enables the adoption of digital financial services among poor women - Grameen Foundation

Grameen Foundation collaborated with Accenture Labs to bringing solutions and financial change to low-income populations. People can now make better decisions about financial products and services with tools that utilize voice recognition, artificial intelligence and augmented reality.

Learn more about empowering the next million by visiting:
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Grameen Foundation helps the world's poorest -- especially women -- improve their lives and escape poverty by providing them with access to appropriate financial services, life-changing information and unique income-generating opportunities.

We do this by helping microfinance institutions and other poverty-focused organizations become more effective and efficient, enabling them to reach more poor people with financial services, such as small loans and microsavings. We help these organizations find financing, and provide products and services that enable them to measure their results and better understand their customers.

Working with local and global allies, and the poor themselves, we also create mobile phone-based solutions that address the devastating effects of "information poverty." We help the poor to better manage their health, their crops and their finances, enabling them to improve their lives and break the cycle of poverty for themselves and their families.
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Related Publication:
• Boosting financial inclusion in developing nations – an AI/AR use case -

Related Press Release:
• Accenture Labs and Grameen Foundation India Use Emerging Technologies to Help Increase Adoption of Financial Services Among Low-Income Women -
• In midst of rural poverty, 1.3 million people gain access to financial services through women's networks -

Transcript:
[Music]
[Prabhat Labh, CEO of Grameen Foundation India ] Grameen Foundation’s mission is to enable the low-income people, especially women, to create a world without poverty and hunger. Access to financial services gives women and low-income people better control over their lives. However, there are multiple barriers that they face. We have identified three big barriers in the adoption of financial services. These are the Access Barrier, Information & Knowledge Barrier, and the Price Barrier. We are working on a number of solutions in technology along with our partner Accenture Labs, which can address barriers in access to financial services in addition to technology.
[Sanjay Podder, Managing Director, Accenture Labs (India) & Tech4Good Program Lead] Accenture Labs is collaborating with Grameen Foundation and bringing the latest emerging technologies like artificial intelligence and augmented reality to help address the challenge of financial inclusion when it comes to low-income women and people in general in India.

Solutions are helping bring a mindset change and people can now make better decisions about financial products and services.

[Mamtha, shop owner in local language] My name is Mamtha and I wanted to open a shop of my own. I was in need of money for this. I tried for loans at many banks but it did not work out. My friend introduced me to microfinance.

[Neville Dubash, Technology R&D Principal Director, Accenture Labs(India) & Tech4Good]
Accenture Labs, under the Tech4Good program, has provided Grameen Foundation India with an enumerative tool which is called Accenture Emotional Analytics. The Accenture Emotional Analytics tool analyzes emotions from the human voice. It uses artificial intelligence techniques such as machine learning to accomplish this. The tool is designed using human centric design in mind. The actionable insights and emotions can be very easily customized to a given use case or a business problem.

[Agent in local language] I just received a call from Mamtha who is from Itaunja. I chatted with her and you can see the recording of this conversation in the software. It shows that she has concerns with her husband and guarantor. Please address these concerns. Ok?

[Narrator, voiceover] Accenture Emotions Analytics tool analyzes emotions such as temper, mood, and energy from human voice. The tool enables real-time analysis of a person’s emotional state and operates across multiple platforms. This enables the field officers to better understand customer apprehensions and emotional concerns prior to visiting them.

[Shivanjali, Program Manager - People Solutions, Grameen Foundation India] The Accenture Analytics Tool helps give better client insight, thereby increasing the capacity of MFIs (Microfinance Institutions) to include more and more people in the financial domain.

[Narrator voiceover] Accenture’s solution has enabled small business owners like Mamtha to realize their dream.

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