MTN Released the First AI-Driven Service for Mobile Money in Africa

At the centre of development in technologies like AI – and development in general – lies the unquestionable pursuit of making life easier. On the 7th of June, the MTN Group announced such a development within its FinTech operations, geared towards the improvement of the user experience whilst dealing with Mobile Money services. The MTN Group is Africa’s largest mobile telecommunications provider with operations in over 20 countries  across Africa, as well as some countries in Europe and Asia. It is the 8th largest mobile network in the world, with its headquarters in Johannesburg South Africa.

The telecom organisation announced the launch of chatbot – an artificially intelligent feature that leverages various social media platforms (such as WhatsApp and Facebook Messenger, and SMS as well) to guide users in navigating the various services offered under MTN’s MoMo (Mobile Money) platform. By doing so, MTN Group hopes to increase customer engagement and and improve the overall customer experience with MTN MoMo. What’s more, this service also debuts as the first of its kind in Africa.

“We are passionate about bringing the power of our mobile money solutions to more than 60 million customers across Africa over the next few years. Harnessing modern technologies like artificial intelligence can improve in scale, how MTN interacts with customers, enabling them to reach us anytime and anywhere, through a variety of channels including social networks and messaging applications. We can also harness the power of artificial intelligence to provide our customers with the right answers to their questions at the right time.,” said MTN CEO, Rob Shuter.

Chatbot had already been launched in Ivory Coast in May, and will soon have it’s operations expanded across its MoMo footprint in the coming months. Furthermore, as issued in the statement, the service will also be included in MTN’s newly launched instant messaging service “Ayoba”, though this inclusion will be made later on over the course of events.

“We are committed to improving financial inclusion with a range of solutions aimed at addressing the needs of various market segments. While MTN has made great strides in these areas, we will continue working to deliver our vision for MTN to become one of the largest Fintech players across our footprint.”

 

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