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Microfinance Information Exchange

Reporting Blues: Building an Efficient
Data Ecosystem

The Premier Source for Microfina...
MIX, a growing objective data exchange
• 36 employees
• Headquarters in Washington, DC
• Offices in Azerbaijan, Senegal, I...
MIX’s mission and strategic priorities
MIX promotes responsible financial services for
underserved populations through dat...
Agenda

Dissecting
MFIs’
reporting
burden

Presenting
an
innovative
solution

Working
together to
reduce the
burden

4
Thi...
The Data Supply Chain

The sector’s
current system
is not only
redundant, it’s
the primary
reason for
growing
reporting
bu...
Quantifying the reporting burden for MFIs

Multiple collectors:
The average MFI reports to 7
data collectors 50 times/year...
Proliferation of Standards but Multiple Data
Requirements Persist
Focus on what is truly important
Interim reporting requi...
What does the reporting burden mean MFIs?
MFIs
Staff time could be spent on
other productive activities
Disincentive for s...
Agenda

Dissecting
MFIs’
reporting
burden

Presenting
an
innovative
solution

Working
together to
reduce the
burden

9
Thi...
Supporting borrowers by supporting investors

Investors
and Donors

Investor & MFI
relationship

MFIs

Borrowers

MFI & Bo...
A Proposed Approach for an Innovative Solution

1.

Inconsistent and unreliable
MFI data

What are we solving for and how:...
MIX’s New Reporting System

Private

MIX Gold

MIX Silver

Public

MIX will manage data collection centrally for
the secto...
Data collection through MIX Report Express

MIX Report
Express is a
flexible and
dynamic
reporting
interface
allowing MFIs...
Performance monitoring (audit tracking)
Time stamp of
data submission,
audit record,
error tracking
and covenant
complianc...
Agenda

Dissecting
MFIs’
reporting
burden

Presenting
an
innovative
solution

Working
together to
reduce the
burden

15
Th...
Working together

Annual
Roundtable

Explicit
Harmonization:
Direct investors
collaborating with
MIX platform to
reduce re...
Ensuring data quality
Data quality was
cited as the #1
concern for funders
in December 2013
at the inaugural
Gold Communit...
How is MIX Working with the Industry to reduce
the reporting burden?

MFIs

Networks

Funders

• Testing of MIX
Report
Exp...
Conclusion

• You can have data without information, but
you cannot have information without data
• Connect Data providers...
MIX Global and Project Partners
MIX partners with a dedicated group of industry leaders:

20
This presentation is the prop...
Microfinance Information Exchange
Headquarters:
1901 Pennsylvania Ave., NW, Suite 307
Washington, D.C. 20006 USA

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Reporting Blues MIX presentation - MF India Summit 2013

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Reporting Blues MIX presentation - MF India Summit 2013

  1. 1. Microfinance Information Exchange Reporting Blues: Building an Efficient Data Ecosystem The Premier Source for Microfinance Data and Analysis This presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited.
  2. 2. MIX, a growing objective data exchange • 36 employees • Headquarters in Washington, DC • Offices in Azerbaijan, Senegal, India, Peru • MIX celebrating its 10th anniversary in 2012 • Quarterly data collection in 51 countries • Annual data collection in 100 countries Networks Investors MFIs Regulators Raters 2100+ MFIs 300+ Service Providers 150+ Networks 200+ Investors This presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited. 2
  3. 3. MIX’s mission and strategic priorities MIX promotes responsible financial services for underserved populations through data analytics and market insight Four priority areas: 1. Provide a more comprehensive view of financial inclusion 2. Improve the transparency of governance and social performance 3. Enhance the infrastructure for information and easier reporting 4. Support improved decision-making among industry actors 3 This presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited.
  4. 4. Agenda Dissecting MFIs’ reporting burden Presenting an innovative solution Working together to reduce the burden 4 This presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited.
  5. 5. The Data Supply Chain The sector’s current system is not only redundant, it’s the primary reason for growing reporting burden, poor data quality, poor transparency and a lack of impact measurement for funders 5 This presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited.
  6. 6. Quantifying the reporting burden for MFIs Multiple collectors: The average MFI reports to 7 data collectors 50 times/year! Asking for multiple reports: Interim updates and new social performance reports contribute to the ballooning requirements. Definitions Urban = ? Rural = ? Labels Borrowings Loans Funding Liabilities Debt Loan Funds Borrowed Funds Calculations 5 = % $ in unique ways!: Disparate calculations and indicators total 800 data point requests. This presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited. 6
  7. 7. Proliferation of Standards but Multiple Data Requirements Persist Focus on what is truly important Interim reporting requirements across 20 large MF funders 2011 MIX ‘reporting genome’ project to understand: • What information is asked of MFIs? • To what extent do those requests overlap? 800 700 75 600 500 400 300 675 Source: Stephens, Blaine. Information Overload: can technology address MFIs' reporting burden? 200 100 150 0 Total requests Overlap Required data Unique n:20 funders 4 tion is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited. 7 This presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited.
  8. 8. What does the reporting burden mean MFIs? MFIs Staff time could be spent on other productive activities Disincentive for small or start up institution to seek external capital for their growth Funders, Networks, MIX Market, Regulators Data delays Data quality issues 8 This presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited.
  9. 9. Agenda Dissecting MFIs’ reporting burden Presenting an innovative solution Working together to reduce the burden 9 This presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited.
  10. 10. Supporting borrowers by supporting investors Investors and Donors Investor & MFI relationship MFIs Borrowers MFI & Borrower relationship 10 This presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited.
  11. 11. A Proposed Approach for an Innovative Solution 1. Inconsistent and unreliable MFI data What are we solving for and how: 1. Standards Building with data requestors (funders, networks) 2. Multiplicity of reporting requirements 2. Technology: Ease of reporting via an online reporting interface for data providers (MFIs) 3. Potential for error and missing data 3. Improved data quality basing on MIX’s 10 year experience of collecting and validating MFI data 11 This presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited.
  12. 12. MIX’s New Reporting System Private MIX Gold MIX Silver Public MIX will manage data collection centrally for the sector through MIX Report Express, driven by stakeholder requirements. These subscribers will influence harmonized reporting requirements and help sustain public and private data flows for the sector. MIX Basic 12 This presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited.
  13. 13. Data collection through MIX Report Express MIX Report Express is a flexible and dynamic reporting interface allowing MFIs to easily report basic data to MIX Market and private data to funders with a Gold license Ability to work online / offline Dynamic reporting form creation to reduce redundancy Customizable data fields based on stakeholder requirements Rigorous data validation In-line data dictionary 13 This presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited.
  14. 14. Performance monitoring (audit tracking) Time stamp of data submission, audit record, error tracking and covenant compliance Monitor reporting timeliness Data audit flags and description Track data quality 14 This presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited.
  15. 15. Agenda Dissecting MFIs’ reporting burden Presenting an innovative solution Working together to reduce the burden 15 This presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited.
  16. 16. Working together Annual Roundtable Explicit Harmonization: Direct investors collaborating with MIX platform to reduce reporting burden 16 This presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited.
  17. 17. Ensuring data quality Data quality was cited as the #1 concern for funders in December 2013 at the inaugural Gold Community Meeting Data quality will improve in 4 ways 1 MIX’s quality review is based on experience with more than 15,000 data submissions 2 Data is reviewed against internal and third party documents 3 Report Express will 4 Harmonization automate many will improve data functions to reduce quality though human errors with clear standards inbuilt advanced algorithms 17 This presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited.
  18. 18. How is MIX Working with the Industry to reduce the reporting burden? MFIs Networks Funders • Testing of MIX Report Express • Assessment of network reporting needs • Standards harmonization April ‘13 May ‘13 Sep ‘13 Alpha test of MIX Report Express First round of standards for adoption Beta test of MIX Report Express Oct-Dec ‘13 On-boarding to MIX Report Express Early ‘14 Launch! 18 This presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited.
  19. 19. Conclusion • You can have data without information, but you cannot have information without data • Connect Data providers with data requestors • Technology, the way forward? • Need for Partnerships or collaboration to build an efficient data ecosystem 19 This presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited.
  20. 20. MIX Global and Project Partners MIX partners with a dedicated group of industry leaders: 20 This presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited.
  21. 21. Microfinance Information Exchange Headquarters: 1901 Pennsylvania Ave., NW, Suite 307 Washington, D.C. 20006 USA Visit us on the Web: www.themix.org www.mixmarket.org Regional Offices: Baku, Azerbaijan Contact us: info@themix.org 44 J. Jabbarli st. Caspian Plaza I, 5th Floor, Baku, Azerbaijan Lima, Peru Jirón León Velarde 333 Lince, Lima 14, Perú Interested in learning more about MIX? Sign up to receive our free e-mail newsletters! Rabat, Morocco Immeuble CDG Place Moulay Hassan BP 408 Rabat Morocco Hyderabad, India Find us on Facebook Follow us on Twitter: @mix_market Road #12, Landmark Building, 5th Floor, Banjara Hills, Hyderabad 500034, India 21 This presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited.

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