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.
Project leader: Asmeret Ghebrelul Weldesilassie
Institution: VIPICASH AS