Enhancing trust in peer-to-peer lending in Ghana
Date
2022-05
item.page.datecreated
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Abstract
In the past years, financial institutions, mainly in Ghana, have witnessed a lot of innovations
regarding how they operate and serve their customers. The recent introduction of financial
technologies (fintech) includes blockchain, cryptocurrency, NFTS, web3, smart contracts,
mobile banking, crowdfunding, and peer-to-peer lending. Traditional banks have seen parts
of their core business from payment services and credit to advisory services encroached
upon by digital competitors. In the case of credit and loans systems, we have realized how
customers no longer have to file long loan documents in order to secure loans. There has
been the introduction of the peer-to-peer ecosystem where one can just acquire a loan by the
click of a button.
The problem with these systems is that there have been reports with regards to nonrepayment
of loans. Projecting fintech (automated forms of traditional financial services) as
the future, how can we possibly solve this issue of trust in the peer-to-peer ecosystem? The
main objective of this thesis is to explore the probable ways of building private, safe,
and sensitive peer-to-peer applications. Specifically, this paper focuses on how to enhance trust
in peer-to-peer lending systems by exploring credit score ratings, biometrics and smart
contract technology. This thesis recommends a framework on how these systems can be
built to enhance trust during transactions.
Description
Undergraduate thesis submitted to the Department of Computer Science and Information Systems, Ashesi University, in partial fulfillment of Bachelor of Science degree in Computer Science, May 2022
item.page.type
Undergraduate Thesis