Bank of Zambia Circular No. 11/2021 on Deploying Artificial Intelligence for Financial Consumer Complaints

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BANK OF ZAMBIA OFFICE OF THE DEPUTY GOVERNOR - OPERATIONS

BOZ/EXEC/DGO/nbfis/bp

July 12, 2021

CB Circular No. : 11/2021

To : All Heads of Financial Service Providers and Payment Service Providers

DEPLOYMENT OF ARTIFICIAL INTELLIGENCE IN FINANCIAL CONSUMER COMPLAINTS

Reference is made to the above subject.

Kindly be informed that the Bank of Zambia (BoZ) in collaboration with the African Digital Financial Inclusion Facility of the African Development Bank Group and the Competition and Consumer Protection Commission is undertaking a project aimed at acquiring and deploying artificial intelligence in managing financial consumer complaints. I wish to inform you that this Project is strategic to the operations of the BoZ, as it is designed to accelerate digital financial inclusion in Zambia, by effectively tracking the resolution of consumer complaints to enhance confidence in financial services and subsequently enhance usage.

As part of this effort, Proto (the system developers) have organised a Go to Market virtual webinar to be held on Wednesday, July 21, 2021. The objective of the virtual webinar is to accord an opportunity for the financial institutions and payment system providers to understand how the artificial intelligence complaint management system shall operate.

In this regard, your institution is requested to nominate a maximum of two (2) members of staff to attend the virtual webinar. Kindly submit your nominees’ details to Mr. Moses Musantu, Senior Analyst – Consumer Protection and Market Conduct, on email mmusantu@boz.zm by close of business on Friday, July 16, 2021. We further wish to request you to respond to the attached questionnaire so as to inform the design and introduction of a chatbot and Artificial Intelligence augmented management system for the handling of consumer complaints.

[Signature]

Francis Chipimo (PhD) DEPUTY GOVERNOR – OPERATIONS

cc Governor Deputy Governor – Administration Director – Bank Supervision Director – Non-Bank Financial Institutions Supervision General Counsel and Bank Secretary Director – Payment Systems Director – Information and Communication Technology

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Bank Square, Cairo Road, P.O. Box 30080, Lusaka, Zambia Tel:+260-211-399303, 399300, E-mail: dgo@boz.zm. Web: http://www.boz.zm