Demarginalizing the Underserved with AI Lending

งาน SCBX Unlocking AI EP 10: Responsible AI in Action: From Regulation to Real-World Impact

Thailand has high inequality. As many as 36 million disadvantaged people cannot get a bank loan. Instead, they have to take out informal loans, which has led to many social problems.

If there is a way to help these people access credit in the system. It should reduce inequality and make society more livable.

ในงาน SCBX Unlocking AI EP.10 Mr. Thiranan Arunwattankul  Chief Operating Officer MONIX limit This is a joint venture between SCBX and Abakus Group. FINNIX Lecture Demarginalizing the Underserved with AI Lending To explain, MONIX can help solve the financial problems of the underprivileged. To help reduce inequality in society.

How does MONIX do this? as follows

• MONIX aims to be a platform of opportunity to help reduce inequality in Thailand. By finding a way. Make it easier for small people to access loans in the system with a limit of not more than 100,000 baht.

• MONIX uses machine learning to perform every step of the process, with an emphasis on data collection. Clean and organize the data in the most systematic way because it is foreseen: Data Driven Insight is essential to doing business today. And if you want to provide credit to people effectively, you must start with complete information. Then it will help drive towards becoming a AI-Powered Transformation have
• However, even though data is collected by artificial intelligence, almost all decisions such as how much to lend to each person. Formulation of operational policies, etc., must come from people anyway.

• However, The right decision on who to get a loan will come from 3 important components:

1. Intelligent Underwriting Engine: Use and store data without bias, which helps to better understand customer data.
2. Personalized Offers: Consider loans individually, not using the One Size Fits All method because each person has a context. Different needs and needs.
3. Precise Prediction & Collection: Sorting data in an organized and well-rounded manner allows people to make accurate final decisions.

• The challenge is also to find a way for humans and machines to work together in a coherent way. Human x AI Harmony  
• "We need to make people and AI work in harmony and learn from each other seamlessly. This must be done through the laying of a good corporate culture. We must make the company a safe space for employees, and let employees dare to express their ideas and opinions."

• MONIX also adheres to the 5S principle. (5S Principles) This principle is a constant reminder to everyone in the organization that it is responsible to the customer. In order to be able to create a positive impact on society according to the goals as follows:

1. Simple: Don't make it easy. Do not push the burden on customers.
2. Secure: Work under maximum safety
3. Speed: Work fast, race against time and fast-changing customer behavior.
4. Scale: When something is made, it must be used by many people.
5. Smart: Believe in working smart.

• "Thailand has 36 million disadvantaged people who cannot take out bank loans. If we are going to reduce inequality, We need to use information without bias, MONIX is ready to help improve society and make people open their eyes and mouths in this country. And I hope that in the future, there will be more people who will help drive the country to that point with us as well," Mr. Thiranan concluded.

Download Presentation at Mr. Thiranan Arunwattankul Use the description here.