Fintech Innovation Challenge: Leveraging AI for MSMEs in Thailand

The Asian Development Bank (ADB) extends an invitation for pioneering solutions for integrated data analytics, AI/ML, and insights within the financial services sector. The goal is to empower a forward-thinking Southeast Asian financial institution to seamlessly integrate AI and data-driven insights for the benefit of its micro, small, and medium-sized enterprise (MSME) customers.

As an AI-powered platform, this toolbox would cover data captured from MSMEs and leverage AI to provide actionable, yet simplified insights for MSMEs, specifically focusing on cash flow forecasting, financial reporting, and other related financial metrics. At the backend, it will allow the FI to gather requisite MSME business-related information to understand the financial needs of the MSMEs, efficiently respond to customers' account-related queries, offer relevant financial products to make the customer experience more seamless and improve the FI's credit scoring capabilities for this segment.

Key objectives of this game-changing toolbox to empower MSMEs in:

• Financial Management (Must Have*): Automate tasks like expense tracking, cash flow forecasting, and financial reporting, freeing up time for MSMEs to focus on growth.
• Customer Relationship Management (Good to Have*): Enable FI to seamlessly cater to the customer's needs by efficiently and effectively managing customer queries and providing real-time responses on the banks' products.
• Credit scoring (Good to Have*): Use financial data to generate and improve credit scorecards for originating and monitoring MSME loans.

  How might we design and implement a comprehensive AI-powered toolbox for a forward-thinking financial institution in Thailand that integrates data analytics, AI/ML technologies, and insightful financial metrics to empower micro, small, and medium-sized enterprises (MSMEs)?

This Fintech Innovation Challenge is supported by the High-Level Technology Fund.