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Design for Trusted AI in banking

DESIGN ROADMAPPING Project Assignment with IBM

The rapid growth of AI brings ethical concerns. AI's increasing involvement in critical decisions prompts industries to develop more trustworthy, privacy-sensitive, transparent, explainable, robust, and fair AI systems. Currently, the focus is mainly on risk mitigation and technology-centered solutions.

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Project Highlights

This is a course project jointly operated by TU Delft and IBM Amsterdam, our aim is to explore a fresh design perspective that considers human and societal needs to address the problem between AI and banking by applying roadmapping as a tool

Timeframe: 10.2022 - 11.2022 (6 weeks)

Project type: Strategic design, Design roadmapping

Team members: ZhuoTing Wang, Carolina Sachez, Vera Klerken, Adam Bengtsson

What is Design Roadmapping?

Design Roadmapping devises creative responses to future strategic challenges. It connects user values to future visions and details an evolutionary pacing of design innovations. Mapping value propositions and their versions on the future timeline ensures continuous innovation for organizations in the long run. 

IBM’s AI Ethics Strategy

IBM’s pillars of trust are focal areas that help to implement the Principles of Trust and Transparency. Each pillar provides a new perspective for our assignment

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Explainability
Fairness
Robustness
Transparency
Privacy

An AI system should be transparent, particularly about what went into its algorithm’s recommendations, as relevant to a variety of stakeholders with a variety of objectives.

Fairness refers to the equitable treatment of individuals, or groups of individuals, by an AI system.

AI-powered systems must be actively defended from adversarial attacks, minimizing security risks and enabling confidence in system outcomes.

Users must be able to see how the service works, evaluate its functionality, and comprehend its strengths and limitations.

AI systems must prioritize and safeguard consumers’ privacy and data rights and provide explicit assurances to users about how their personal data will be used and protected.

Trend Analysis

We conducted multiple analysis to gain an overview of the current market. We did a10 trend analysis, as well as a DEPSTEP analysis to see trends in different areas. We also took specific trends in AI and in banking. From these different analysis we concluded 3 main trends in 3 different aereas.​

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Ecosystem relationships
Hyper personalization

  • Physical spaces will be digitized

  • Empathy will scale to make better recommendations

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Customer behavior
Immersive-reality technologies

  • Spatial computing

  • Mixed reality (MR)

  • Augmented reality (AR)

  • Virtual reality (VR)

03

Technologies
Connected experiences

  • Creating connections between providers that customer use in their journeys

  • Offering a digital and in person experiences

  • McKinsey & company. Building the AI bank of the future: can banks meet the AI challenge?, 2020. by Suparna Biswas, Brant Carson, Violet Chung, Shwaitang Singh, and Renny Thomas. https://www.mckinsey.com/featured-insights

What is important for SNS

The three important statements that relate to our values for SNS​

Individual Growth

“It's in our DNA: promoting self-reliance, letting people grow”

Socio-economic growth

“We want to stand out by making a social impact on lives across the Netherlands”

Security

“Is important that people can manage when it comes to money, and be sure that their money is safe”

What are the values?

“IBM aspires to make a lasting, positive impact on the world in business ethics, our environment, and the communities in which we work and live”

IBM and SNS have different value proposition statements, that connect to each other as they both want to make a positive impact in the world. From this we get our values form SNS and IBM

“We believe that banking can be done differently. With us, people come first and we help people grow. For us, it's about the person behind the numbers.”

Who will be the target group?

We prioritize women entrepreneurs as our initial target group due to the challenges they face in accessing fair loans, including gender bias and limited networks. By offering AI-enhanced fair loans tailored to their needs, we aim to create an inclusive ecosystem. Expanding these services to all entrepreneurs brings social and economic benefits, leveling the playing field, fostering innovation, and promoting gender equality.

  • Risk aversion and bias in loan evaluations

Challenges Women Entrepreneurs are facing in loan services

  • Gender bias and discrimination

  • Limited access to networks and resources

  • Unequal opportunities for credit history building

Most needed support for Entrepreneurs in loan services

  • Streamlined Application Processes

  • Financial Education and Guidance

  • Mentorship and Networking Opportunities

  • Customized Loan Products

  • Access to Capital

Matching values

We strategically match the unique values of IBM, SNS, and entrepreneurs. By considering IBM's pillars of trust and breaking down SNS's growth value, we create a powerful synergy. Additionally, we address the specific needs of entrepreneurs, including financial support, community backing, and personalized assistance. This strategic alignment fosters success and cultivates a thriving ecosystem for all involved.

IBM

  • 5 Pillars of Trust

  • Fairness

  • Privacy

SNS

  • Individual Growth

  • Economical Growth

  • Societal Growth

  • Security

Entrepreneurs

  • Financial support

  • Community support

  • Personalization

Value proposition

Values explained for the involved stakeholders; entrepreneurs, IBM, the Dutch Government and SNS.

Future Vision Statement

We created a future vision that ties together the most important trends and values for SNS

SNS empowers entrepreneurs to grow within a community with access to equitable financial services and connected experiences.

Time pacing strategy

Time pacing strategy is to segment the future vision into 3 distinct horizons, each accompanied by corresponding strategies and tactics to effectively accomplish the goals at various stages

This video explains the value exchange along the 3 horizons in detail

Strategic Roadmap

The strategic roadmap presents a comprehensive vision for SNS's future, spanning 10 years. It outlines three distinct time horizons, each focusing on essential dimensions for success: service modules, business model, partners, and SNS's core values.

By strategically addressing these dimensions, SNS can navigate the evolving landscape and effectively position itself for long-term growth and achievement of its vision.

Tactical Roadmap

The tactical roadmap offers clear actions for SNS to achieve its future vision. It leverages resources, technology, and partnerships while mitigating risks. By following this roadmap, SNS optimizes its potential, embraces innovation, and navigates towards success.

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