Kwami Ahiabenu,II Knowledge Chief

By Kwami Ahiabenu  Insurance ensures risk mitigation. The history of insurance dates back thousands of years with its origin in risk-sharing and mutual aid. In recent years technology is impacting all aspects of our society and insurance is not an exception. The Insurtech market is awash with a lot of products and services with personalization being the driving force. One of the innovative insurance products is known as insurance telematics which is premised on a usage-based insurance approach. This includes packages like Pay-As-You-Drive (PAYD), Pay-How-You-Drive (PHYD) and Pay-Per-Trip (PPT) auto insurance. These sorts of insurance premiums are not fixed such as an annual or monthly amount but consist of a flexible amount. The global market for insurance telematics is estimated at US$3 Billion in the year 2022, projected value of US$13.1 Billion by 2030, growing at a Compound annual growth rate (CAGR) of 20percent over the analysis period 2022-2030 (ResearchAndMarkets.com). Tradi...

Global Centre for Fintech Innovations to Participate in Collision 2024: Showcasing Cutting-Edge Fintech Solutions The Global Centre for Fintech Innovations is thrilled to announce its participation in Collision 2024, one of the premier technology conferences globally, set to take place in Toronto, June 17-20, 2024 at Enercare Centre. Collision brings together the brightest minds and the most innovative companies in the tech industry, creating a vibrant platform for networking, learning, and showcasing groundbreaking technologies. Collision, known for its dynamic environment and diverse attendee base, will host thousands of tech enthusiasts, industry leaders, and innovators. The Global Centre for Fintech Innovations is excited to be part of this transformative event, presenting its latest advancements in fintech that are poised to redefine the financial technology landscape. Dr. Kwami Ahiabenu, Director of the Global Centre for Fintech Innovations, shared his enthusiasm about the event...

  Kwami Ahiabenu ll Before banking or financial systems, individuals provided either cash or an item to another individual within an arrangement that the borrower would return said cash or item to the lender with or without interest in the future. Peer to Peer lending occurs when a lender and borrower transact business without the role of any intermediary. P2P lending differs from traditional lending whereby a financial institution serves as an intermediary, mobilising capital from its client base and lending.The fast-paced fintech innovation has driven peer-to-peer lending. According to  The Business Research Company,  global P2P lending is valued at US$143.64billion in 2023. Peer-to-Peer lending is categorised into: Informal P2P lending  — wherein an individual within a circle of friends or colleagues requests a loan, usually through face-to-face interaction or phone call. The transaction is usually undocumented and trust-based — on the network’s ability to influen...

Kwami Ahiabenu ll Investment is not an easy journey. The complexity of investment instruments, coupled with multiple investment offerings means a typical investor is faced with a maze to navigate when it comes to the decision-making process in terms of what investment options to consider, duration of the investment, risk analysis, types of investment portfolio and opportunities to consider. Traditionally, investment advisors play a crucial role in helping prospective investors make decisions on investment options which can lead to optimum investment decisions. In a fast-growing digital age where innovations in the financial sector are the norm, coupled with the rise of emerging technologies, especially big data, artificial intelligence and machine learning have given birth to Robo-advisors. A Robo-advisor can be described as a computer application that is based on an automated analytics processing system that combines algorithms, including machine learning, with big data to generate a ...

Kwami Ahiabenu, Global Centre for FinTech Innovations, Canada abstract  This chapter outlines the risks and challenges involved in implementing central bank digital currency (CBDC). Interest in CBDC is currently growing, with a number of central banks paying it serious consideration, and a number of countries are implementing or piloting CBDC. Although CBDC holds a great deal of promise, its implementation is not without difficulty. This chapter highlights the major implementation issues, such as CBDC contributing to financial exclusion, technology risks, CBDC’s inability to work in an offline environment, lack of privacy, and confidential consideration, since anonymity is difficult to achieve. The chapter concludes by highlighting the need to deploy CBDC with greater attention paid to societal, economic, and political factors instead of a purely technocratic approach. Read more at  https://www.igi-global.com/gateway/chapter/full-text-html/319798 To cite :  MLA Ahiabenu, ...

Our first in-person Technology Salon DC in three years convened on January 25, 2023, to pose the question:  Can Generative Artificial Intelligence Technology Improve Aid Outcomes?  Thought leaders and decision makers across the international development space shared their optimism, skepticism, and uncertainty regarding generative AI and its consequences as we move closer to the  uncanny valley . The moderated and free-flowing discussion was informed by four experts in artificial intelligence uses for humanitarian aid: Craig Jolley , Data Scientist, USAID Kwami Ahiabenu II , Co-founder, Penplusbytes Prasanna Lal Das , Digital Policy Consultant, DIAL ChatGPT , Generative AI Chatbot, OpenAI What is Generative AI and Why Does It Matter? Generative artificial intelligence  uses AI and machine learning algorithms in order to generate new content such as text, images, audio, video, simulations, and code. ChatGPT—short for Generative Pre-trained Transformer—is one of the mos...

Investment is not an easy journey. The complexity of investment instruments, coupled with multiple investment offerings means a typical investor is faced with a maze to navigate when it comes to the decision-making process in terms of what investment options to consider, duration of the investment, risk analysis, types of investment portfolio and opportunities to consider. Traditionally, investment advisors play a crucial role in helping prospective investors make decisions on investment options which can lead to optimum investment decisions. In a fast-growing digital age where innovations in the financial sector are the norm, coupled with the rise of emerging technologies, especially big data, artificial intelligence and machine learning have given birth to Robo-advisors. A Robo-advisor can be described as a computer application that is based on an automated analytics processing system that combines algorithms, including machine learning, with big data to generate a wide range of auto...

Coding is the power that enables a lot of tech driven services to function. Coding can be described as a process of using a computer language to develop software services or a product that works in software development environments based on specific deployment processes and testing protocols.  A computer code performs the function of communication; creating a set of instructions which tell a computer software what to do and how to do it in a fast and efficient manner. Coders or programmers or developers are persons who acquire specific skills in writing code using either one or a combination of several programming language. Through coding, a number of software are created for a wide range of use and without coding, we cannot have websites, online platforms or mobile apps. In terms of classification, we can characterize codes into three types; low-level, high-level and object-oriented coding languages. Low level languages are dissimilar to human language and require in-depth knowled...

Ghana’s fintech space can accelerate its rate of Fintech innovations if there is a deeper collaboration between educational institutions, research entities and businesses, this assertion came to light during a two-day hybrid Fintech and Innovations course organised by Knowledge Innovations, Ghana Fintech and Payments Association in partnership with Global Centre for Fintech Innovations, providers of course certification. The course topics includes financial technologies and digital transformation, Fintech key trends and applications, technologies and innovations driving Fintech; FinTech Legal and regulatory framework; fintech and Innovation; The Ghanaian Perspective, understanding cyber security risks in fintech; Emerging technologies driving Fintech and Innovation Strategy; Developing Your Fintech strategy. The participants were taken through practical steps on how to apply key lesson learned in their day-to-day work activities. The course was facilitated by leading experts in Ghana’s...