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BIA-Brukerstyrt innovasjonsarena

VIM- VipiCash Intelligent Monitor A monitoring tool for global remittance and Aid Markets using Artificial Intelligence technology

Alternative title: Et overvåkingsverktøy for global overføring og bistand ved bruk av kunstig intelligens teknologi.

Awarded: NOK 2.3 mill.

Project Number:

309633

Project Period:

2020 - 2023

Funding received from:

Organisation:

Objective: The vision of this project is to develop an intelligent monitoring tool for interpreting large amounts of data from multiple sources and customer transaction patterns to give personalised information and advises to customers and well-fare organisations enabling informed remittance and aid donation decisions. Status: We have explored NLP? ?algorithm methods for entity and entity extraction, and conducted sentiment analysis on news data over time to label them as positive, negative or neutral. We are in the process of defining a framework for information about customers and their transaction history. We are also working on a framework for simulating large transaction data??sets for several receiver countries for later to be combined with unstructured (news) data and other data of relevance in time series models.

As the world becomes increasingly connected, more people send money abroad. Migrant workers send money home to aid family and support the economy. The transfer of money across countries, remittance, is a large part of the global economy, especially for developing countries. VipiCash is a digital money transfer system for remittance & aid. The sender specify goods or services collected by the receiver instead of money, removing overhead and distribution fees and reducing the risk of misuse, corruption & terror funding. The innovation is a personalized intelligent monitoring tool using Artificial Intelligence technology and mathematical-statistical modelling approaches to interpret data. This will result in personalized tailored information and advises, enabling informed remittance and aid donation decisions. We will integrate a wide range of data; VipiCash transaction data, data from reports and events and World Bank demographic and remittance specific data. This will in a novel way give welfare organizations invaluable insight to trends and changes in remittance and aid to developing countries, aiming at better and more targeted aid solutions to millions of people in need worldwide.

Funding scheme:

BIA-Brukerstyrt innovasjonsarena