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  Page 209 - ITU-T Focus Group Digital Financial Services – Technology, innovation and competition

 Page 209 - ITU-T Focus Group Digital Financial Services – Technology, innovation and competition           Basic HTML Version Table of Contents View Full Version Page 209 - ITU-T Focus Group Digital Financial Services – Technology, innovation and competition P. 209 ITU-T Focus Group Digital Financial Services Technology, Innovation and Competition and used as a basis for developing an alternate credit score, or affecting current credit bureau scoring data. (...) Entities with SMP may be able to utilize their internal data to the potential detriment of smaller players. 10.3 Country example Kenya The Competition Authority of Kenya in 2016 began a study to ‘authenticate reports’ on whether provider’s ‘mobile credit data’ and other entities deliberately released information on bad borrowers while concealing information on good borrowers. In particular, the study will assesses: 194 ‘The level of equal compliance with Credit Bureau reporting by digital credit providers and if they report both positive and negative borrower data as required by law and if there exists disparate treatments that gives them anti-competitive advantage and inhibits consumers’ ability to take advantage of their own data for financial access.’ 195 The enquiry was apparently prompted by ‘good’ borrower’s accessing loan while ‘bad’ borrowers were denied access to loans in other financial institutions since they lack access to any past credit information.

Score: 1418713.2 - https://www.itu.int/en/publica.../files/basic-html/page209.html

  Financial Crisis - Global Economic Slowdown to Hit ICT Producing Economies

But just how bad will it get? How long will the downturn last? (...) This comes partly as a result of expensive or inaccessible credit and negative wealth effects from falling equity and property values. (...) In this way, the worst financial crisis since the 1930s was born. Spreads in credit and bond markets surged to very high levels, paralysing credit and money markets and world stock market prices plummeted.

Score: 1347308.7 - https://www.itu.int/osg/csd/emerging_trends/crisis/fc03.html

  Origins and Evolution of Digital Credit

Origins and Evolution of Digital Credit ORIGINS AND EVOLUTION OF DIGITAL CREDIT IN KENYA Paul Makin Identity and Financial Inclusion Consultant Webinar: Digital credit and consumer protection ORIGINS Digital Credit and Consumer Protection Disclaimer • This evaluation is purely my opinion • Based on 16 years observing the development of the financial sector in Kenya, during which time I worked with multiple banks, Safaricom (M-Pesa), the KBA, the Central Bank of Kenya, FSDK, the National Treasury, multiple other Ministries and Government departments • So this is a short review of the chain of events that led to the rise of digital credit Constraints on the Financial Sector • Multiple bank failures, including two bad failures in 2015, caused CBK to rein in the risks Kenya’s banks were taking Deposits 80% Available to Lend • The intent was to both reduce risk, and to force banks to build deposits (and reserves) Financial Sector Reaction • Virtue signalling caused some banks to overreact: “aren’t we being prudent?” (...) • Using a digital-only model – App-based; 40+ apps on Google Play in a very short time – Lending decisions automated – Linking to credit information services – Social media campaigns to encourage adoption – Potentially hugely beneficial in the COVID-19 era Where did it all go wrong? • Rogue operators – the loan sharks of the digital age – Bullying/violence: on social media, and in person – Adverse credit reports • Damaging the reputation of a sector with a majority of highly responsible new entrants, and which is fulfilling a real need amongst individuals and small businesses • In response, the Digital Lenders Association of Kenya (DLAK) was formed in 2019 – Promoting best practices in lending and – crucially – consumer protection – Seeking to promote self-regulation of the sector – Issues with persuading customers to seek out the DLAK logo before applying REGULATORY RESPONSES Digital Credit and Consumer Protection Could Regulation Help?

Score: 1345652.7 - https://www.itu.int/en/ITU-T/w...1/Documents/3_Paul%20Makin.pdf

  Page 262 - Trust in ICT 2017

 Page 262 - Trust in ICT 2017           Basic HTML Version Table of Contents View Full Version Page 262 - Trust in ICT 2017 P. 262 5 Trust in ICT 1) Self-promoting attacks: a malicious user can intentionally promote its importance (by providing good recommendations for itself) in order to be selected as the service provider, but then it provides malfunctioned service. 2) Whitewashing attacks: a malicious entity can disappear and re-join the application to wash away its bad reputation. 3) Discriminatory attacks: a malicious entity can discriminatively attack non-friends or entities without strong social ties (without many common friends) because of human nature or propensity towards friends in social networks. 4) Bad-mouthing attacks: a malicious entity can ruin the reputation of another well-behaved entity by providing bad recommendations so as to decrease the chance of this good entity being selected as a service provider. This is a form of collusion attacks, i.e., it can collaborate with other bad entities to ruin the reputation of the good entity. 5) Ballot-stuffing attacks: a malicious entity can boost the reputation of another bad entity by providing good recommendations for it so as to increase the chance of this bad entity being selected as a service provider. This is also a form of collusion attacks, i.e., it can collaborate with other bad entities to boost the reputation of each other. c) Threats in social networks Social networking tools have changed the way people interact in their personal life and business.

Score: 1319858.6 - https://www.itu.int/en/publica.../files/basic-html/page262.html

  Bonnie Brusky

This stability permits them to financially plan with more assurance than families who rely on itinerant jobs or entrepreneurial activities. Bad Credit Record The findings show that having a bad credit record is not necessarily associated with being at-risk or over-indebted. (...) 92 30.7% 208 69.3% How is it that a bad credit record does not necessarily spell over-indebtedness? (...) In any event, this finding is noteworthy for financial lenders, since it suggests that having bad credit does not necessarily equate bad risk.

Score: 1310082.6 - www.ilo.org/wcmsp5/grou...ts/publication/wcms_117961.pdf

  Bonnie Brusky

This stability permits them to financially plan with more assurance than families who rely on itinerant jobs or entrepreneurial activities. Bad Credit Record The findings show that having a bad credit record is not necessarily associated with being at-risk or over-indebted. (...) 92 30.7% 208 69.3% How is it that a bad credit record does not necessarily spell over-indebtedness? (...) In any event, this finding is noteworthy for financial lenders, since it suggests that having bad credit does not necessarily equate bad risk.

Score: 1310082.6 - https://www.ilo.org/wcmsp5/gro...ts/publication/wcms_117961.pdf

  Migration is beneficial ‘part of human history’, says UN envoy | | 1UN News

As the final round of negotiations on a global compact for safe, orderly and regular migration took place at UN Headquarters in New York, Louise Arbour said on Wednesday that migration should not be seen in terms of good or bad, but as “a phenomenon that’s been part of human history”, with immense benefits if well handled. (...) As the final round of negotiations on a global compact for safe, orderly and regular migration took place at UN Headquarters in New York, Louise Arbour said on Wednesday that migration should not be seen in terms of good or bad, but as “a phenomenon that’s been part of human history”, with immense benefits if well handled. (...) Arbour, the Special Representative of the Secretary-General on International Migration , explained to Omar Musni the impact the global compact could have throughout the world. Audio Credit Omar Musni, UN News Audio Duration 8'30" Photo Credit United Nations Global Compact for Migration Resources Navigate the News Information for Broadcasters UN System Links Media Alert UN Journal Meetings Coverage Audiovisual Library Secretary-General All Statements Official Travels Press Encounters SG Twitter Spokesperson's Office Latest Statements Briefing Highlights Briefing Transcripts Notes to Correspondents Find Us UN News App Facebook Twitter YouTube RSS Contact UN News United Nations Facebook Twitter YouTube Flickr Instagram Pinterest Soundcloud Podcast UN Social Media Donate Footer menu A-Z Site Index Copyright FAQ Fraud Alert Privacy Notice Terms of Use

Score: 1287911.5 - https://news.un.org/en/audio/2018/07/1014591

  ITU Journal: ICT Dis

In short, the good magic, is its “credit assignment (or reward) function”. It is the ability to assign credit for what “works”; in other words what allows an algorithm to get the right (intended) result. (...) This may simply feel like common sense or liberal democracy at work, but bad policies, bad actions, and bad results are pervasive even in the most “developed” liberal democracies, for many reasons. (...) It is also not a vision that should be assessed in the abstract or absolute; it is one that aims to improve the state of a world with many ills, a lot of which reflect and fuel bad information, bad faith, bad decisions, bad behaviors, and abuses of power that are rarely caught and even less often tackled.

Score: 1273525 - https://www.itu.int/dms_pub/it...ICTF.VOL1-2018-2-P15-PDF-E.pdf

  ITU Journal: ICT Dis

In short, the good magic, is its “credit assignment (or reward) function”. It is the ability to assign credit for what “works”; in other words what allows an algorithm to get the right (intended) result. (...) This may simply feel like common sense or liberal democracy at work, but bad policies, bad actions, and bad results are pervasive even in the most “developed” liberal democracies, for many reasons. (...) It is also not a vision that should be assessed in the abstract or absolute; it is one that aims to improve the state of a world with many ills, a lot of which reflect and fuel bad information, bad faith, bad decisions, bad behaviors, and abuses of power that are rarely caught and even less often tackled.

Score: 1273525 - https://www.itu.int/en/journal/002/Documents/ITU2018-15.pdf

  News in Brief 6 July 2020 | | 1UN News

Countries should reject ‘mad or bad’ approach to mental health, says expert An independent rights expert reporting to the Human Rights Council in Geneva has said that it is time to change the way we treat mental health issues globally. (...) Countries should reject this “mad or bad” approach, the UN Special Rapporteur on the right to physical and mental health insisted, while warning against the “exaggerated” benefits of psychotropic medications. (...) Download Pope Francis echoes UN Security Council call for ceasefire 4.5 million doses of COVID-beating drug secured for poorer nations Countries should reject ‘mad or bad’ approach to mental health, says expert   Audio Credit Daniel Johnson, UN News - Geneva Audio Duration 2'56" Photo Credit © UNICEF/Andrei mental health ceasefire Peace and security health Resources Navigate the News Information for Broadcasters UN System Links Media Alert UN Journal Meetings Coverage Audiovisual Library Secretary-General All Statements Official Travels Press Encounters SG Twitter Spokesperson's Office Latest Statements Briefing Highlights Briefing Transcripts Notes to Correspondents Find Us UN News App Facebook Twitter YouTube RSS Contact UN News United Nations Facebook Twitter YouTube Flickr Instagram Pinterest Soundcloud Podcast UN Social Media Donate Footer menu A-Z Site Index Copyright FAQ Fraud Alert Privacy Notice Terms of Use

Score: 1260172.7 - https://news.un.org/en/audio/2020/07/1067701