March 11, 2024 at 01:37PM
The nonprofit launched Tazama, an open source platform providing anti-fraud capabilities to financial systems in Africa, Asia, and the Middle East. Funded by the Linux Foundation and Gates Foundation, it completed pilot projects in Jordan and South Africa and aims to expand, addressing the lack of banking services and low account ownership in these regions.
Key takeaways from the meeting notes:
1. The Tazama open source project is focused on providing anti-fraud capabilities to financial systems in Africa, Asia, and the Middle East.
2. It has completed alpha pilot projects in Jordan and South Africa and is working with the Central Bank of West African States (BCEAO) and rural banks in the Philippines.
3. The project aims to serve underserved areas and help increase citizens’ participation in the financial system.
4. The Gates Foundation views delivering banking services to lower-income citizens as essential for deploying real-time digital payments and helping economies grow.
5. The Tazama open source software employs more than 270 different rules for real-time fraud detection, processing 2,300 transactions per second in the current pilot project.
6. The platform also utilizes machine learning to determine the legitimacy of transactions and targets various financial ruses, including job fraud and money laundering.
7. Future plans for Tazama include adding explainable AI and other advanced features to make the platform easier to use and manage.
Let me know if you need any more information or assistance.