Posted on March 22, 2019

Dignity, Respect, and Consumer Debt

Financial Sector Deepening-Kenya is proud to be a supporting partner of Dignity and Debt‘s project that involves the use of AI to marshal citizen voices about their experiences with digital credit. Dignity and Debt is a network of scholars, advocates, and financial organizations working to understand and empower the linkages between lending and human values. Other partners include the Mastercard Center for Inclusive Growth and Citi Beats in Barcelona. The project has resulted in a pilot of an early warning system for consumer protection and a better understanding of how social media platforms can be used to create more inclusive experiences with finance just as it has been used to augment disaster relief efforts.

Dignity and Debt have also gathered a year of tweets in Kenya about 30 major financial service providers that they are now analyzing. In Brazil, the network has authored an initial report on “Calculating the Moral Costs of Financial Inclusion,” based on interviews and observations as well as an initial sampling from thousands of consumer complaints there. And in the US, they have been looking through over 7,000 complaint narratives to identify what kinds of consumer concerns are affirmed by financial service providers versus the kinds that are not.

You might also like

Financial diaries respondent profiles: “Evelyn”: Coping with chronic illness

Making finance serve the needs of the economy

Applying behavioral insights to financial inclusion

Customer experience with mobile money agents

Cash flow based lending for SMEs

The intrinsic and instrumental value of money and resource management for people’s well-being in rural Kenya