the risks of all digital (no cash) payment systems & amok AI:

“This happens quite often with customers of the Cashgroup banks (@DeutscheBank / @Postbank / @Commerzbank / @Comdirect) as soon as their algorithms hit your account is directly without giving exact reasons – then sense” (bank account blocked – without any reason given #what the serious f***? all gone mad?) (src: twitter)

Shivani Siroya@TEDx: “A smart new business loan for people with no credit”

this sounds way better than… (clever marketing) reality…


  • “alright…” (no not alright)
  • thanks for the video ktn, great journalism needs to tell the truth! not display marketing only!
  • “it is not a app where you can get money, and live of the face of the earth…”
    • “you will delete the application and nobody will know that you have taken that amount? no, your profile still exists”
  • “risk based pricing, we are able to assess the risk of the borrower, from 15% to 5%”
  • Q: “what would give me 90% (rating)?”
  • A: “this is machine learning, there is no human intervention… the machine sends your data through our database and will score you… we pick thousands of thousands digital datapoints, that makes it predictive, accureate” (but nobody knows (not even the developers!!?!?!?!?) why it decides to give you a B and not an A rating)
  • so on the one hand it is good, Africa does not care, how much data is collected about individuals, because that’s the only way they can get a loan, because banks EVERYWHERE simply FAIL to do their CORE TASK:
    • bankers should look at the people and their projects and then lend money (good not too greedy conditions).
  • Africa’s governments probably have bigger problems, but they also need to protect the data of their citizens from big corporations trying to exploit it.
  • a reality where AI is making ALL decisions… not sure that will be a good reality, probably not.
  • it is not the first time, AI get’s things wrong: (the risk is that users blindly trust it)

computers & AI are no way perfect – doctors, judges and police who blindly trust AI results – from face recognition to eBay offensive language detection – nuclear world war 3 could could have been started by users blindly trusting computers

this video gives interesting insights into everyday life in Africa, Kenya….


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