The document discusses management information systems (MIS) for microfinance institutions (MFIs). It states that while some MFIs are using technology effectively, most face difficulties obtaining the right MIS solution due to factors like lack of capacity, unsuitable applications, and high costs. It emphasizes that the back-office MIS, which holds core data and manages information, is the most important but has received less attention. MFIs need to carefully assess their needs before committing to an MIS to ensure it is flexible, expandable and robust enough to support their current and future requirements.
This document discusses challenges faced by rural microfinance institutions in delivering services to remote clients. It identifies three key challenges: 1) collecting information from remote rural clients, 2) managing and processing large amounts of institutional data, and 3) collecting and delivering money to remote areas. For the first challenge, some microfinance institutions have experimented with using handheld devices like PDAs to more efficiently collect client data in the field, but high costs have prevented most from continuing these pilots long-term. The document examines examples of institutions that have tried and discontinued PDA pilots. Overall it analyzes gaps in rural microfinance service delivery and potential technology-based solutions.
The document discusses analytical software solutions for microfinance institutions and banks. It conducted a survey of 295 microfinance institutions in different countries to assess their current use of analytical systems and management information systems. The survey focused on factors like credit scoring, performance tracking, vintage analysis, write-offs, and recovery monitoring. The results found that while some MFIs use management systems, they do not fully cover all business processes and some functions are still done manually. Current systems also provide results but take more time than analytical technologies. This presents an opportunity for MFIs to improve operations and sustainability by adopting more advanced analytical solutions.
This document discusses the evolution and scope of microfinance in India. It provides details on the regulations for microfinance institutions (MFIs) set by the Reserve Bank of India, including limits on loan amounts and interest rates. It also discusses the growth of MFIs in India and some of the challenges they face, such as high interest rates, inability to generate sufficient funds, and financial illiteracy among customers. The document concludes by proposing some solutions to address the credit gaps and risk management challenges in microfinance, including promoting group lending and improving technology to increase financial inclusion.
The document discusses financial inclusion in India. It notes that about 69% of the Indian population lacks access to basic banking services. The objective of financial inclusion is to ensure inclusive growth and equip disadvantaged groups with confidence to make financial decisions. While progress has been made in opening bank accounts, challenges remain around reach, delivery mechanisms, financial literacy, and infrastructure. Stakeholders must work together using appropriate technology and delivery models to further the goals of financial inclusion in India.
Community Based Microfinance - International ExperienceA Tripathi
The document discusses microfinance institutions (MFIs) in Asia. It notes that MFIs are most mature in Bangladesh, India, Philippines, and Indonesia, while still establishing in places like China, Myanmar, Russia, and Laos. It provides an overview of the MFI landscape in several Asian countries, including regulations, products offered, and client bases. The document concludes by suggesting ways to improve regulations, product design, client protection, and risk management for MFIs across Asia.
I have compiled a photo album documenting my family's trip to Hawaii last summer. The album contains 30 photos spread across 10 pages showing scenes from our week-long vacation visiting beaches, volcanoes, and small towns on different islands. Family and friends who view the album will get a brief glimpse into our fun and memorable Hawaiian adventure through scenic landscape and candid snapshots.
This document summarizes information about the target audience for a soap opera trailer project. The target audience is 15-25 year olds of both genders, which was chosen because it matches the age of the creators. E4 was selected as the broadcaster since it is the most watched digital channel by 16-24 year olds in the UK. Feedback from an audience on the initial trailer is also presented, including both positive comments and constructive criticism.
This document discusses challenges faced by rural microfinance institutions in delivering services to remote clients. It identifies three key challenges: 1) collecting information from remote rural clients, 2) managing and processing large amounts of institutional data, and 3) collecting and delivering money to remote areas. For the first challenge, some microfinance institutions have experimented with using handheld devices like PDAs to more efficiently collect client data in the field, but high costs have prevented most from continuing these pilots long-term. The document examines examples of institutions that have tried and discontinued PDA pilots. Overall it analyzes gaps in rural microfinance service delivery and potential technology-based solutions.
The document discusses analytical software solutions for microfinance institutions and banks. It conducted a survey of 295 microfinance institutions in different countries to assess their current use of analytical systems and management information systems. The survey focused on factors like credit scoring, performance tracking, vintage analysis, write-offs, and recovery monitoring. The results found that while some MFIs use management systems, they do not fully cover all business processes and some functions are still done manually. Current systems also provide results but take more time than analytical technologies. This presents an opportunity for MFIs to improve operations and sustainability by adopting more advanced analytical solutions.
This document discusses the evolution and scope of microfinance in India. It provides details on the regulations for microfinance institutions (MFIs) set by the Reserve Bank of India, including limits on loan amounts and interest rates. It also discusses the growth of MFIs in India and some of the challenges they face, such as high interest rates, inability to generate sufficient funds, and financial illiteracy among customers. The document concludes by proposing some solutions to address the credit gaps and risk management challenges in microfinance, including promoting group lending and improving technology to increase financial inclusion.
The document discusses financial inclusion in India. It notes that about 69% of the Indian population lacks access to basic banking services. The objective of financial inclusion is to ensure inclusive growth and equip disadvantaged groups with confidence to make financial decisions. While progress has been made in opening bank accounts, challenges remain around reach, delivery mechanisms, financial literacy, and infrastructure. Stakeholders must work together using appropriate technology and delivery models to further the goals of financial inclusion in India.
Community Based Microfinance - International ExperienceA Tripathi
The document discusses microfinance institutions (MFIs) in Asia. It notes that MFIs are most mature in Bangladesh, India, Philippines, and Indonesia, while still establishing in places like China, Myanmar, Russia, and Laos. It provides an overview of the MFI landscape in several Asian countries, including regulations, products offered, and client bases. The document concludes by suggesting ways to improve regulations, product design, client protection, and risk management for MFIs across Asia.
I have compiled a photo album documenting my family's trip to Hawaii last summer. The album contains 30 photos spread across 10 pages showing scenes from our week-long vacation visiting beaches, volcanoes, and small towns on different islands. Family and friends who view the album will get a brief glimpse into our fun and memorable Hawaiian adventure through scenic landscape and candid snapshots.
This document summarizes information about the target audience for a soap opera trailer project. The target audience is 15-25 year olds of both genders, which was chosen because it matches the age of the creators. E4 was selected as the broadcaster since it is the most watched digital channel by 16-24 year olds in the UK. Feedback from an audience on the initial trailer is also presented, including both positive comments and constructive criticism.
This document discusses selecting a target audience of 15-25 year olds for a soap opera trailer. It was decided to target their own age group as they would be acting in the trailer and could better relate to it. The broadcaster E4 was selected, which is aimed at and most watched by 16-24 year olds. Feedback from an audience on the trailer is presented, including both positive comments and constructive criticism to improve aspects like sound levels and title card formatting.
I created a photo album to organize pictures from my family vacation. The album has sections for each day of the trip with space for 4 photos per page. Family and friends have enjoyed looking through the album to see photos from our adventures at the beach, hiking in the mountains, and visiting theme parks.
In 3 sentences:
This document summarizes 4 scenes from the TV show "East Enders" through descriptions of the characters, settings, and dialogue. In the first scene, a man creeps out of a messy house while a working mother confronts him. The second shows a distressed woman in a cafe watched by builders. She meets a shady businessman in a small, dimly-lit office who is revealed to be blackmailing her into prostitution.
Frankie Wright created a stop motion animation project to evaluate summer options. They found developing a narrative difficult but used paper and pens which were easy materials. Frankie drafted a few ideas but struggled with being creative. They worked alone which allowed flexibility but limited ideas compared to collaborating. Resources were limited to what was available in their room.
This document provides context and analysis for several scenes in the TV show "East Enders". In the opening credits, the audience learns the show is set in London on the Thames and in the east end. A scene shows a man sneaking out of a house, implying a one night stand. Another scene depicts a messy home of a working mother of multiple children. A well-dressed distressed woman is seen in a cafe frequented by builders, suggesting her appearance is just an act. She later talks to a shady businessman in a small, dark office who refers to her as a prostitute, implying she is being blackmailed.
I have created a photo album to showcase pictures from my family vacation to Hawaii last summer. The album contains 30 photos across 10 pages documenting our trip from arrival in Honolulu to visiting volcanoes on the Big Island. Key moments captured include swimming with sea turtles, hiking waterfalls, and watching the sunrise from atop Haleakala volcano.
This document compares different potential shots for ancillary products like posters and magazine covers for a TV show. Each shot is evaluated for how well it would represent the characters and programme. Shots are rejected for reasons like characters not being recognizable, not looking at the camera, poor lighting, characters not in the center or too far away, and wardrobe issues. The analyses suggest selecting shots that clearly feature the characters and their relationships, have good lighting, and center the subjects.
The student used various media technologies at different stages of constructing and researching their E4 soap opera trailer project. They used YouTube to view existing soap opera trailers for inspiration and to upload their own rough cut and final trailer. They created a blog using Blogger to communicate with their teacher, post all of their work, and receive feedback. Twitter was also used to communicate and ask questions. Slideshare was utilized to upload PowerPoints to the blog. iMacs and iMovie were employed to edit collected footage and create the rough cut and final trailer.
The document summarizes the various media technologies used at different stages of constructing, researching, planning, and evaluating a project. It discusses using a camera, editing software like iMovie, Photoshop, and PowerPoint. It mentions using social media like Twitter and Facebook for planning and communication, and uploading work to YouTube and embedding links from Slideshare in a blog. The document analyzes examples of TV show posters and magazines to inform the design of its own poster and trailer.
The document discusses the boot process of Linux operating systems. When a computer with Linux is turned on, the boot code in ROM loads and starts the kernel. The kernel then probes the system hardware and spawns the system init process. The Linux system can boot automatically or manually. In automatic mode, the complete boot procedure occurs without input, while manual mode involves operator intervention at a certain point before initialization scripts run. The typical Linux boot process involves loading and initializing the kernel, detecting and configuring devices, creating kernel threads, optional operator intervention, running system startup scripts, and achieving multiuser operation.
The document provides step-by-step instructions for installing Windows XP and Windows 7 from a USB flash drive. It describes preparing the USB drive by formatting it, adding the boot code, and copying the installation files from the Windows disc. The instructions then explain how to boot from the USB drive by changing the BIOS settings and initiating the installation process from the flash drive.
Microfinance in India aims to provide financial services to the poor by addressing challenges like risk management, accessibility, lack of collateral, and high transaction costs. Key initiatives include the bank-SHG linkage program, expansion of rural bank branches, and the emergence of microfinance institutions. However, large gaps remain as 500 million people remain unserved. Scaling up microfinance further faces challenges around capital availability, staff training, and technology adoption. New approaches are exploring partnerships, venture capital models, alternate channels like agent networks and internet kiosks, and reducing transaction costs.
- 29 applicants applied for up to 5 digital banking licenses in Malaysia that will be awarded in 2022. Applicants include large companies, tech players, e-commerce firms, and fintechs.
- While Malaysians are relatively highly banked, many only use banks for savings and have limited access. Digital payments are growing rapidly as mobile banking increases.
- Regulators aim to boost financial inclusion among underserved groups through new digital banks focused on SMEs, specific segments, and Islamic banking options. Winners may include large ecosystem players partnering with specialized digital banks.
This document discusses 8 potential business model breakthroughs for microfinance that could help bring financial services to more of the unbanked poor. It identifies leveraging new payment technologies like cards, mobile phones, and retail networks as ways to reduce costs and expand access. It also recommends that microfinance institutions offer a fuller suite of savings, insurance, transfer, and loan products to better meet client needs. The document further suggests mainstream financial institutions could play a role through partnerships with micro lenders or establishing their own microfinance arms. Finally, it stresses the importance of governments establishing supportive policies, regulations, and supervisory frameworks for microfinance to achieve scale.
This document provides an overview and summary of a research project examining the implications of technology on financial inclusion in India. The project studied various models using technology for financial inclusion, including business correspondent models, mobile wallets, and joint liability group models. Key findings include that while regulations and infrastructure exist, the process of financial inclusion is not accelerating as expected. Sustainability and education are major challenges. The study aims to understand how these technological models work and can be applied in the microfinance sector to increase reach and lower costs of financial services for underserved populations.
The Democratic Republic of the Congo offers huge market potential for technology start-ups. The political environment supports entrepreneurship and digital services. The aim of the National Digital Plan is to drive market and improve infrastructure to surge opportunities for financial inclusion.
The document summarizes microcredit and microfinance in Bangladesh. It discusses key differences like microcredit providing small loans while microfinance provides various financial services. Major microfinance institutions in Bangladesh are discussed like Grameen Bank, BRAC, and ASA, which dominate the sector. Benefits of microfinance like access to funds, women's empowerment, and job creation are outlined. Interest rates, target markets, and common credit products are also summarized.
MPower is a proposed intelligent hybrid wallet and micro-blockchain platform that aims to drive financial inclusion in India. It would take advantage of the opportunity to develop new technology-based solutions to address the financial exclusion experienced by many Indians, like Nikki, a single mother struggling with little savings and access to funds. MPower would provide services like P2P payments between family and friends, government payments, and purchases through a hybrid wallet and permissioned local blockchains integrated with identity systems like Aadhaar, while working with the government and banks in a collaborative partnership.
The document discusses digital financial services (DFS) for underserved populations. It provides an overview of various DFS models including bank-led models where banks partner with non-banks to expand reach, and non-bank led models where mobile network operators (MNOs) provide financial services. The document compares the advantages and disadvantages of different technology options for DFS like SMS banking, mobile banking, POS devices, and voice IVR. It also discusses factors that affect the uptake of DFS like the presence of alternate financial channels, demographic characteristics, and socio-economic conditions of the target population.
The document provides an overview of microfinance in India, including its challenges and potential solutions. It discusses how microfinance aims to provide financial services to the poor through mechanisms like group lending. However, challenges remain around risk management, accessibility, staff training, and high costs. Scaling up microfinance further requires addressing issues like adequate funding, infrastructure, and the development of new microfinance institutions and technologies to reduce transaction costs and expand access across India.
This document discusses selecting a target audience of 15-25 year olds for a soap opera trailer. It was decided to target their own age group as they would be acting in the trailer and could better relate to it. The broadcaster E4 was selected, which is aimed at and most watched by 16-24 year olds. Feedback from an audience on the trailer is presented, including both positive comments and constructive criticism to improve aspects like sound levels and title card formatting.
I created a photo album to organize pictures from my family vacation. The album has sections for each day of the trip with space for 4 photos per page. Family and friends have enjoyed looking through the album to see photos from our adventures at the beach, hiking in the mountains, and visiting theme parks.
In 3 sentences:
This document summarizes 4 scenes from the TV show "East Enders" through descriptions of the characters, settings, and dialogue. In the first scene, a man creeps out of a messy house while a working mother confronts him. The second shows a distressed woman in a cafe watched by builders. She meets a shady businessman in a small, dimly-lit office who is revealed to be blackmailing her into prostitution.
Frankie Wright created a stop motion animation project to evaluate summer options. They found developing a narrative difficult but used paper and pens which were easy materials. Frankie drafted a few ideas but struggled with being creative. They worked alone which allowed flexibility but limited ideas compared to collaborating. Resources were limited to what was available in their room.
This document provides context and analysis for several scenes in the TV show "East Enders". In the opening credits, the audience learns the show is set in London on the Thames and in the east end. A scene shows a man sneaking out of a house, implying a one night stand. Another scene depicts a messy home of a working mother of multiple children. A well-dressed distressed woman is seen in a cafe frequented by builders, suggesting her appearance is just an act. She later talks to a shady businessman in a small, dark office who refers to her as a prostitute, implying she is being blackmailed.
I have created a photo album to showcase pictures from my family vacation to Hawaii last summer. The album contains 30 photos across 10 pages documenting our trip from arrival in Honolulu to visiting volcanoes on the Big Island. Key moments captured include swimming with sea turtles, hiking waterfalls, and watching the sunrise from atop Haleakala volcano.
This document compares different potential shots for ancillary products like posters and magazine covers for a TV show. Each shot is evaluated for how well it would represent the characters and programme. Shots are rejected for reasons like characters not being recognizable, not looking at the camera, poor lighting, characters not in the center or too far away, and wardrobe issues. The analyses suggest selecting shots that clearly feature the characters and their relationships, have good lighting, and center the subjects.
The student used various media technologies at different stages of constructing and researching their E4 soap opera trailer project. They used YouTube to view existing soap opera trailers for inspiration and to upload their own rough cut and final trailer. They created a blog using Blogger to communicate with their teacher, post all of their work, and receive feedback. Twitter was also used to communicate and ask questions. Slideshare was utilized to upload PowerPoints to the blog. iMacs and iMovie were employed to edit collected footage and create the rough cut and final trailer.
The document summarizes the various media technologies used at different stages of constructing, researching, planning, and evaluating a project. It discusses using a camera, editing software like iMovie, Photoshop, and PowerPoint. It mentions using social media like Twitter and Facebook for planning and communication, and uploading work to YouTube and embedding links from Slideshare in a blog. The document analyzes examples of TV show posters and magazines to inform the design of its own poster and trailer.
The document discusses the boot process of Linux operating systems. When a computer with Linux is turned on, the boot code in ROM loads and starts the kernel. The kernel then probes the system hardware and spawns the system init process. The Linux system can boot automatically or manually. In automatic mode, the complete boot procedure occurs without input, while manual mode involves operator intervention at a certain point before initialization scripts run. The typical Linux boot process involves loading and initializing the kernel, detecting and configuring devices, creating kernel threads, optional operator intervention, running system startup scripts, and achieving multiuser operation.
The document provides step-by-step instructions for installing Windows XP and Windows 7 from a USB flash drive. It describes preparing the USB drive by formatting it, adding the boot code, and copying the installation files from the Windows disc. The instructions then explain how to boot from the USB drive by changing the BIOS settings and initiating the installation process from the flash drive.
Microfinance in India aims to provide financial services to the poor by addressing challenges like risk management, accessibility, lack of collateral, and high transaction costs. Key initiatives include the bank-SHG linkage program, expansion of rural bank branches, and the emergence of microfinance institutions. However, large gaps remain as 500 million people remain unserved. Scaling up microfinance further faces challenges around capital availability, staff training, and technology adoption. New approaches are exploring partnerships, venture capital models, alternate channels like agent networks and internet kiosks, and reducing transaction costs.
- 29 applicants applied for up to 5 digital banking licenses in Malaysia that will be awarded in 2022. Applicants include large companies, tech players, e-commerce firms, and fintechs.
- While Malaysians are relatively highly banked, many only use banks for savings and have limited access. Digital payments are growing rapidly as mobile banking increases.
- Regulators aim to boost financial inclusion among underserved groups through new digital banks focused on SMEs, specific segments, and Islamic banking options. Winners may include large ecosystem players partnering with specialized digital banks.
This document discusses 8 potential business model breakthroughs for microfinance that could help bring financial services to more of the unbanked poor. It identifies leveraging new payment technologies like cards, mobile phones, and retail networks as ways to reduce costs and expand access. It also recommends that microfinance institutions offer a fuller suite of savings, insurance, transfer, and loan products to better meet client needs. The document further suggests mainstream financial institutions could play a role through partnerships with micro lenders or establishing their own microfinance arms. Finally, it stresses the importance of governments establishing supportive policies, regulations, and supervisory frameworks for microfinance to achieve scale.
This document provides an overview and summary of a research project examining the implications of technology on financial inclusion in India. The project studied various models using technology for financial inclusion, including business correspondent models, mobile wallets, and joint liability group models. Key findings include that while regulations and infrastructure exist, the process of financial inclusion is not accelerating as expected. Sustainability and education are major challenges. The study aims to understand how these technological models work and can be applied in the microfinance sector to increase reach and lower costs of financial services for underserved populations.
The Democratic Republic of the Congo offers huge market potential for technology start-ups. The political environment supports entrepreneurship and digital services. The aim of the National Digital Plan is to drive market and improve infrastructure to surge opportunities for financial inclusion.
The document summarizes microcredit and microfinance in Bangladesh. It discusses key differences like microcredit providing small loans while microfinance provides various financial services. Major microfinance institutions in Bangladesh are discussed like Grameen Bank, BRAC, and ASA, which dominate the sector. Benefits of microfinance like access to funds, women's empowerment, and job creation are outlined. Interest rates, target markets, and common credit products are also summarized.
MPower is a proposed intelligent hybrid wallet and micro-blockchain platform that aims to drive financial inclusion in India. It would take advantage of the opportunity to develop new technology-based solutions to address the financial exclusion experienced by many Indians, like Nikki, a single mother struggling with little savings and access to funds. MPower would provide services like P2P payments between family and friends, government payments, and purchases through a hybrid wallet and permissioned local blockchains integrated with identity systems like Aadhaar, while working with the government and banks in a collaborative partnership.
The document discusses digital financial services (DFS) for underserved populations. It provides an overview of various DFS models including bank-led models where banks partner with non-banks to expand reach, and non-bank led models where mobile network operators (MNOs) provide financial services. The document compares the advantages and disadvantages of different technology options for DFS like SMS banking, mobile banking, POS devices, and voice IVR. It also discusses factors that affect the uptake of DFS like the presence of alternate financial channels, demographic characteristics, and socio-economic conditions of the target population.
The document provides an overview of microfinance in India, including its challenges and potential solutions. It discusses how microfinance aims to provide financial services to the poor through mechanisms like group lending. However, challenges remain around risk management, accessibility, staff training, and high costs. Scaling up microfinance further requires addressing issues like adequate funding, infrastructure, and the development of new microfinance institutions and technologies to reduce transaction costs and expand access across India.
The document provides an overview of microfinance in India, including its challenges and potential solutions. It discusses how microfinance aims to provide financial services to the poor through group lending models. However, there are still many gaps in access, with over 500 million poor Indians unserved. Scaling up microfinance further requires increasing access to risk capital and long-term financing for microfinance institutions, as well as improving staff training and the use of technology like low-cost ATMs. Partnerships between banks and microfinance institutions could help address these challenges to expanding financial inclusion in India.
Enhancing outreach of Micro Finance – Role ofkrishna murthy
This document discusses the role of technology in enhancing outreach of microfinance in India. It outlines objectives like studying the impact of management information systems (MIS) and the challenges of implementing technology. The document then provides background on initiatives like Digital India and the large unbanked population. It discusses how information and communication technologies (ICTs) can improve transparency, efficiency and reporting for microfinance activities. However, challenges include lack of infrastructure, connectivity and skilled staff as well as high costs. Suggestions are provided for customizable software, strategic implementation, and educating rural communities on technology services. The study methodology examines changes in the microfinance sector and the technology impact through secondary sources. The conclusion states that continued growth depends on overcoming
This document summarizes a panel discussion on the changing landscape for microfinance institutions (MFIs) with the rise of mobile technology and digital financial services. The panel examines different mobile money business models and how MFIs can adapt through partnerships with telecom companies, transforming into regulated financial institutions, or mergers with larger MFIs and banks. Challenges to innovation discussed include funding, meeting diverse client needs, regulation, and competition from new entrants in the financial sector.
Enhancing outreach of micro finance role of technologykrishna murthy
This document discusses enhancing outreach of microfinance through the role of technology. It argues that technology can help microfinance institutions (MFIs) improve efficiency and sustainability by better processing and analyzing the large amounts of data generated through economic activities. While MFIs have started using technology like mobile phones and the internet, there are still challenges to implementing technology fully, such as illiteracy, lack of infrastructure, and high costs. The document suggests that localized training programs, improved infrastructure, and customizable low-cost software can help MFIs overcome these challenges and allow technology to increase their reach and impact.
The document summarizes IFC's Access to Finance programs in Africa, which have three pillars: increasing access to financial services for individuals and small businesses, strengthening banks and financial institutions to serve SMEs and specific sectors, and strengthening financial systems through institutions, technologies, and standards. It provides details on IFC's focus on financial infrastructure like credit bureaus and collateral registries to address market failures in access to finance in Africa. The document outlines IFC's approach, including building stakeholder capacity, impact monitoring, and knowledge sharing. It highlights the positive impacts of IFC's financial infrastructure programs in countries/regions like West Africa, Ghana, Afghanistan, and others.
George Muruka, senior microfinance consultant at MicroSave, takes us through the microfinance context in the East Africa region (Ethiopia, Rwanda, Uganda and Tanzania), including regulation and future policy trends for promoting financial inclusion.
This document contains a summary of an MIS project focused on logistics. It includes 4 case studies of advanced MIS systems implemented by various companies:
1) An ERP system implemented by Colgate to address issues with misdeliveries and delays.
2) A procurement management system implemented by HUD to better manage contracts and obligations.
3) A CRM system implemented by Telestra to improve customer service and increase customer base.
4) A supply chain management system used by a pizza company to ensure efficient delivery and customer satisfaction.
The document also provides an overview of MIS, its components and capabilities, and how it supports decision making and helps achieve business objectives. Screenshots of an MIS report
This presentation discusses the causes of Andhra Pradesh crisis, how it all started and the possible after-effects. It also examines how the Indian MFIs and the government should respond post this crisis. The presentation concludes with reactions from the clients.
This solution proposes addressing market failures in agriculture through improving information symmetry, market access, and reducing externalities. It suggests using mobile technology to provide farmers with real-time market information and forecasts to reduce price volatility. It also recommends entrepreneurship training to improve marketing skills and policies to encourage private sector investment in agro-processing to enhance market access. Subsidies on electricity and fertilizers would be reduced to address externalities while still providing some support to farmers. The existing system of government information provision is criticized as not ensuring the best quality inputs reach farmers.
This document discusses how digital tools can enable smallholder farmer finance. It begins by noting that while financial service providers have traditionally overlooked smallholder farmers in Africa due to challenges in reaching them, digital technologies are now making it possible to provide credit to them. Digitalization is happening across the lending value chain, including for customer relationship management, registration, loan analysis, disbursement and repayment, and support service delivery. The document then surveys financial service providers in Africa that have started digital journeys and maps them to four digitalization profiles. It finds that loan analysis is often the starting point for digitalization while support service delivery remains a frontier. The document also discusses challenges to digital adoption like high upfront costs and lack of capabilities,
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
An accounting information system (AIS) refers to tools and systems designed for the collection and display of accounting information so accountants and executives can make informed decisions.
South Dakota State University degree offer diploma Transcriptynfqplhm
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"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Discover the Future of Dogecoin with Our Comprehensive Guidance36 Crypto
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Our presentation delves into Dogecoin's potential future, exploring whether it's destined to skyrocket to the moon or face a downward spiral. In addition, it highlights invaluable insights. Don't miss out on this opportunity to enhance your crypto understanding!
https://36crypto.com/the-future-of-dogecoin-how-high-can-this-cryptocurrency-reach/
Optimizing Net Interest Margin (NIM) in the Financial Sector (With Examples).pdfshruti1menon2
NIM is calculated as the difference between interest income earned and interest expenses paid, divided by interest-earning assets.
Importance: NIM serves as a critical measure of a financial institution's profitability and operational efficiency. It reflects how effectively the institution is utilizing its interest-earning assets to generate income while managing interest costs.
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
5 ahmad
1. Management Information Systems (MIS) for Microfinance
Ali Ahmad, CIO,
The First MicrofinanceBank Ltd.
ICT can be a strategic tool in making Microfinance Institutions (MFIs) more efficient and
effective. MFIs can reach more people in a more economic way by implementing the right
Management Information System (MIS). While a few MFIs are making good use of technology,
the majority are facing difficulties in getting the right solution. Reasons for this include:
•
•
•
•
•
•
•
•
•
Insufficient organizational and human capacity
Unavailability of suitable MIS applications for microfinance
Diversity in business processes and frequent changes in procedures
Risk of failure of the MIS
Diversity of geography and language
Unavailability of vendors and their capacity to implement and support IT solutions
High cost of IT solutions for MFIs
Lack of commitment of management and key decision-makers within an MFI
Lack of awareness about the importance of IT
The back-office MIS is the backbone of any Information System solution and yet it has not
received much attention. MFIs, whether large or small, need to have a strong back-office MIS
before attempting to deploy any advanced front-end applications or delivery channels. These
would be worthless without having a strong and flexible back-office MIS in place.
Introduction
Microfinance is considered to be an effective tool in
With a population of around 150 million people, Pakistan
alleviating poverty by increasing income of poor
has big potential for microfinance. 70% of the population
households and reducing their vulnerabilities. Today,
lives in rural areas. Despite achieving a growth rate of 6-
when the majority of the world’s population is living
7% in recent years, poverty has increased by 2%, showing
below subsistence level, more than 3,000 organizations
low penetration of economic benefit to the lower income
are providing microfinance services to millions of the
sector. Unemployment rate stands over 8% and per capita
world’s poor. Yet most of the poor still have little or no
income is US$652. The financial sector of the country
access to financial services. Microfinance institutions
comprises some 35 scheduled banks. These banks have an
(MFIs) have reached a mere 70 million out of 2 billion
outstanding portfolio of US$20.7 billion against 3.2 million
poor people. The task of reaching such a big number is a
accounts and they hold deposits worth US$33.3 billion in
major challenge.
28.5 million deposit accounts. More than 50% of the
deposits and portfolio are concentrated in three main banks
with large branch networks.
1
2. The microfinance target market is over 7 million
•
households. Major players within the microfinance sector
include:
•
Khushhali Bank
•
Khashf Foundation
•
Rural Support Programms (RSPs)
•
Bank of Khyber
•
The First MicroFinanceBank Ltd
•
Orangi Pilot Project (OPP)
•
Sindh Agricultural & Forestry Workers' Cooperative
Organization
•
Short-term solution that involved integration of an offthe-shelf application with its existing portfolio
management system.
Long-term plan to build an enterprise MIS with the
functionality to deliver all banking and microfinance
services, and flexible enough to meet the current and
future technology requirements of the bank.
The management of FMFB had demonstrated their
understanding and commitment in making IT one of its
strategic objectives and to opt for best practices in MIS.
•
Sungi Development Foundation
FMFB has been able to implement an advanced MIS that
•
Taraqee Foundation (TF)
has already started to make positive differences to its
•
Thardeep Rural Development Programme (TRDP)
•
business. As a result of its strong and flexible MIS, FMFB
The Bank of Khyber (BOK)
•
ORIX Leasing Pvt. Ltd
•
Network Microfinance Bank and
•
Rozgar Microfinance Bank
has been able to introduce a wide range of products and
services, including loans, deposits, remittances and
insurance. The system is used to obtain maximum
information to support timely decisions.
The First MicroFinanceBank Ltd (FMFB) is the first
private-sector, regulated MFI in Pakistan, with operations
Difficulties in Adopting MIS
all over the country in rural and urban areas. FMFB was
A number of MIS solutions are emerging. Currently, there
formed as a result of the transformation of the
are 56 MIS applications listed on the CGAP website,
microfinance program of the Aga Khan Rural Support
although more are being used by various organizations that
Programme (AKRSP), which has been running an
are not publicized. Despite the advances in MIS, practical
integrated rural development programme in the remote
experience shows that the acquisition of a suitable MIS is
and isolated north of Pakistan for the past 20 years.
not simple. Many MFIs are struggling with their MIS.
FMFB has transformed its technology solution from a
Some of the reasons for these difficulties are:
very basic level to one of the most advanced within its
•
peer groups. The Microfinance program at AKRSP
started its operations with a manual system, then semi-
•
automated and finally a full-fledged MIS for loans. The
transformation from NGO to a microfinance bank posed
a big challenge to its MIS solution as the existing MIS
did not have any functionality related to deposits,
remittances and insurance that the bank envisaged to
•
•
offer. The challenge was addressed through the following
strategy:
•
Establishment of a strong IT department
•
•
Microfinance operations are unique and complex,
compared to commercial, retail banking .
The Microfinance sector is still evolving and lacks
standardization in its procedures, methodologies,
customer characteristics, type of transactions and
reporting.
There is no of-the-shelf software available that can
address the requirements of every MFI.
Those MIS that are available are complex and costly
for adoption by MFIs.
MFIs lack human and organizational capacity to
develop or select an appropriate MIS.
MFIs operate in remote and difficult areas where
communication and power infrastructure do not exist,
2
3. •
and are therefore constrained from using IT
equipment required to run MIS applications.
Methodologies (individual, group,
banking, community banking etc)
village
8.
Regulatory environment
9.
Reporting:
• Management reporting
• Stakeholder reporting
• Microfinance networks and peer group reporting
Outlook of MFIs
It is evident that the MFIs around the world are diverse in
their structure and practices. Following are some of the
factors that differentiate MFIs from each other:
1.
Type of organization:
• NGO
• MFI (non-regulate)
• Regulated MF Institution
• Microfinance banks
Information Systems used by MFIs
The microfinance sector is also quite diverse in its use of
information systems. Generally there are the following
three types:
2.
Type of Products and Services:
• Minimalists (those who offer only credit
services)
• Loans as well as savings services
• Full range of products (including loans,
deposits, remittance, insurance, leasing and
social services)
3.
Organizational Structure:
• Branch setup (small, medium and large)
• Staff structure
• Departments (cost centre and profit centre)
4.
Size:
• Branch network
• Portfolio size
• No. of employees
• Sections and departments
• Growth
5.
Manual System
Some MFIs still rely on manual systems, which
involves maintenance of records in forms and ledgers.
Organizations having manual systems are either small
micro-credit programs or NGOs.
2.
Semi-automated System
More than 50% of MFIs are operating in a semiautomated mode. Within this category, the spreadsheet
is the common tool being used either in conjunction
with a manual system or with an MIS application that
does not fulfil the information requirements of the
MFI. The majority of non-regulated MFIs have semiautomated systems.
3.
Geography:
• Area specific (operations are limited to a small
area)
• Country specific (operations are spread over an
entire country)
• Global operations (operating in multiple
countries)
1.
Fully Automated System
Few MFIs are fortunate enough to have a fully
automated and integrated MIS, fulfilling the whole
information requirements of the organization. Such
systems are existent with banks or regulated MFIs.
Disadvantage of manual systems:
Some of the disadvantages of manual Information Systems
6.
7.
Operational Environment:
• Rural areas
• Urban areas
• Other
Processes and procedures:
• Models (associations,
unions, Grameen, etc.)
are:
•
•
Prone to Errors.
•
Data manipulation and analysis is very difficult.
•
cooperatives,
Too laborious and time consuming.
Maintenance of large amount of data is almost
impossible.
•
Data and information is not secured.
•
Loosely controlled.
credit
3
4. •
Highly inflexible (addition of new products and
change in business processes can not be made).
•
Business continuity is at risk in case of damage to
information due to fire, water or any other disaster.
•
Reporting is very cumbersome, time consuming and
difficult.
Benefits of computerised MIS to
Microfinance
There is no doubt that “the right information” at “the
right time” at “the right place”, is crucial in decision
•
Efficiency and productivity of staff is increased, as
they are able to manage more products, customers, and
transactions in less time.
•
To meet target market needs, introduction of new
products and setting procedures is easy and can be
quickly applied throughout the branch network.
•
It can also provide the flexibility to integrate with
other applications and delivery mechanisms
MIS lowers transaction cost, increases productivity,
reduces risk of failure, and pushes the boundaries beyond
bricks and mortar infrastructure to carryout business.
making. Therefore, information and data is considered
among the most valuable assets fundamental to the
success of an organization. The primary roles of the MIS
are to capture information, create new information, store
information, and convey information to the user.
Integration and Consolidation
With the growth and advancement of the microfinance
industry, new innovations are being witnessed. Among
these innovations, technology-based delivery channels and
The two major objectives of MFIs are Outreach and
Sustainability. MIS can add substantial value in
achieving both the objectives:
•
•
A major advantage of MIS is that it provides easy
access to accurate and up-to-date information. For
example, loan officers get information on loans that
need follow-up, branch manager’s can monitor daily
progress of the branch, and senior management can
get a full picture of the portfolio performance and
quality. Customers also get quick information on
their accounts, payments and balances.
mechanisms are creating opportunities as well as
intensifying the competitive environment for MFIs. These
channels are not only targeted at lowering transaction costs
and extending the reach of MFIs to large populations, but
are also focused around customer convenience. These
technology-based mechanisms enhance efficiency of the
MFIs, while posing substantial challenges in managing
such technologies. One of the main challenges is that of
integration and consolidation. It is essential that the back-
Detailed information is captured on customers and
their activities that can then be used to assess client
business to assess impact. It is also useful in tracking
historical information of clients.
office MIS has the flexibility to integrate with such
Activities, such as disbursements, repayments,
deposits, withdrawals and money transfers are
completed faster, better controlled and with
minimum opportunity for errors.
The back-office MIS has received little attention within the
Information is produced in user-required formats,
which facilitates better understanding, setting
priorities, objectives and strategy.
MIS, whereas in reality it is not that simple. Examples
Key performance indicators provide an overview of
the organization’s performance, efficiency and
effectiveness of business procedures so that timely
adjustments can be made.
assessment of their core MIS are struggling to integrate
•
Use of ICT helps make MFI services more
interactive, accessible and transparent.
consolidated information. Integration and consolidation are
•
In terms of innovation, ICT provides full flexibility
to structure products and services to the needs of its
target group.
technological innovations holds them back, making them
•
•
•
systems.
sector. The general perception is that new technologybased delivery systems would easily integrate with the core
show that MFIs that have adopted such systems without
these. Because of non-integration, MFIs fall back on
electronic spreadsheets or manual procedures to prepare
very important for MFIs and inability to integrate new
less rather than more efficient.
4
5. Back-office MIS “Starting Point for MFIs”
The backbone of any Information System (IS) is the core
Figure 2 shows a basic structure for the Core MIS for
microfinance:
MIS as it holds the critical data, and manages the
information. All other systems are add-ons. A simple
core MIS comprises of two parts:
Chart of
i.
Database - data structure; an organized set of tables
designed to the needs of the business. All data of the
organization resides in these tables.
ii. Application Software – comprises of the user
interface, business processes, procedures, reports
and queries.
Accounts
Products &
Customer
Serv ices
Relationship
Management
Management
Transaction Management
General Ledger
Reports
Application
Software
Financial
Transaction
Portfolio
Operation
Portfolio
Customer
Product
Audit
Ex eption
Statements
Listings
Statements
Reports
Aging
Reports
Listing
Trail
Reports
Fig2: Core MIS for Microfinance
Database
Other Key Deciding Factors for IT Systems
While the MIS needs to fulfil the business requirements of
Fig 1: Core MIS
the organization, but other factors including appropriate
infrastructure and hardware are also important in the
Adopting an MIS is strategically important for MFIs.
They need to undertake a careful and detailed assessment
of current and future needs before committing to a
success and optimal utilization of information systems. We
can categorize the components of an information system
solution into five areas:
particular solution. Much of the system’s flexibility,
expandability, and robustness depend on the strength of
the backend components. Strong core MIS can deliver
1.
Physical Architecture (Electricity/Power &
communication infrastructure)
cost-effective integration of data, channels and processes,
Physical architecture consists of basic wires or cables
facilitating a single consolidated view of the whole
to
portfolio. Core MIS can provide easy data entry for the
buildings, offices, and computers, the architecture
backend database, making consolidation easy to achieve.
provides services of voice, data, image and video
gateways
and
powerhouses.
Together
with
transmission while the consistent power supply keeps
Various studies reveal that a large number of MFIs
everything live and running.
operate manual systems despite having some kind of MIS
in place. One of the reasons the MIS does not cope with
Every system needs electric power, and if systems are
the changing needs of the organization is that the
required to communicate, then there must be an
backend does not have the right structure. It is important
appropriate communication infrastructure. Usually
for both the MFIs and microfinance software vendors to
MFIs operate in remote and underdeveloped areas
concentrate and strengthen the Core MIS.
where this is lacking.
5
6. 2.
Network
ii. Client/Server databases
Most popular client/server databases also called
enterprise databases include; Oracle, DB2, SQL
Server, MySQL, Sybase, and Informix are some
of the commonly used client/server databases:
Three types of environment setups could be made.
i.
Standalone Environment; MIS is run on
individual PCs and data is stored locally.
ii. Local Area Network (LAN); PCs are connected
together to create a LAN. The network can be
either peer-to-peer or client/server. Desirable is
the Client/server network where data is stored
and shared through a server in a secure way.
iii. Wide Area Network (WAN); Branch offices and
operation units can be connected through a
WAN. It requires proper communication
infrastructure and involves high cost to
establishing a WAN. For online systems WAN
is critical.
3.
Strengths
• Database Management System
• Excellent performance under load
• Design to handle large data
• Manages large number of concurrent users
• Scalable with hardware
• Detects and corrects data corruption
dynamically
• Rollback for incomplete and inaccurate
entries
• Highly secured
• Perfect in network environment and for web
applications
Hardware
Type of hardware depends on the network
environment. A client-server environment requires
Weaknesses
• Complex to configure
• High cost
• License fee per user
• High-end Hardware requirement
• Requires technical skills
server and switch for connecting the workstations /
PCs.
4.
Database
Generally databases can be categorised as local and
client-server. Each category has its own strengths
5.
Application
A combination of business processes and procedures,
and weaknesses. These details can help MFIs in
user interface, reports and controls operate on top of
selecting the appropriate database:
the backend system. A large variety of software
i.
Local databases
development and report generation tools are available
There are a number of local databases but the
most widely used databases are Microsoft
Access, FoxPro, Paradox, and file maker.
and used to write software applications.
Strengths
• Easy to setup and configure
• Low hardware requirement
• Low cost
• Good performance with less data load
Weaknesses
• No database management
• Unable to handle large data
• Risk of data corruption
• Data is not well protected
• Low performance when used by concurrent
users and data load
• Not scalable with hardware
• Low transaction control, there is no
rollback for incomplete and inaccurate
entries
Getting the Right Fit
MFIs face great challenges in choosing the right system
solution that can best fit their business needs. An MIS for
microfinance must have the following characteristics:
1.
Cost effectiveness: Total ownership and lifetime
system operations costs, including hardware, software,
network, infrastructure and human resource.
2.
Functionality & flexibility: Fulfil maximum of the
current business requirement and flexible enough to
incorporate future changes. Capture and generate
6
7. relevant information on an individual, group, and at
a consolidated level.
3.
Such professionals can act as a bridge in filling the gap
between use of ICT and microfinance operations
Reliability: Incomplete and unreliable systems are
3.
Majority of the MFIs do not have the technical
dangerously risky and can hamper the business.
capacity and required resources to understand, adopt
Such systems do not produce the right results and are
and implement MIS solutions.
unable to complete processes to the desired level.
4.
Users could be misguided by such systems.
4.
Simple to use: Should be user friendly and easy to
of MFIs.
5.
setup and operate. Activities can be performed in a
Scalability: System should accommodate changes to
In some cases there is a lack of vision and
commitment from the management towards use of
systematic way and flow.
5.
Most MIS solutions are not affordable to the majority
technology
6.
products, services and delivery channels. It should
Integration is becoming one of the big challenges, as
most of the MIS solutions for microfinance are built
grow as the business grows. For example, if the
on weak platforms, thus not being flexible and scalable
system design is scalable, it can be run on an
enough to integrate with emerging technologies and
individual PC, Local Area Network (LAN) or Wide
delivery channels.
Area Network (WAN).
7.
6.
Integration: Combining data from multiple sources
There is poor information sharing on successful MIS
deployments within the microfinance as well as the
is of great importance to microfinance. Integration of
financial sector.
branches to get single consolidated picture should be
a priority.
8.
ICT vendors still do not see the tremendous business
opportunity and growth in the microfinance industry,
thus are reluctant to invest and establish strategic
Challenges faced by MFIs
1.
Microfinance is a rapidly changing industry. Due to
partnerships with MFIs.
9.
the ongoing evolution of the industry, MFIs face
Power and communication infrastructure, which is the
foundation for hosting ICT services, is inadequate in
difficulty in defining business objectives, needs,
those areas where MFIs operate.
priorities and limitations for acquisition of an MIS
solution. There is lack of standardization within the
10. Non-availability of efficient technical support by
vendors
microfinance sector, and business practices of MFIs
differ from each other. Consequently, software
developers face problems in coming-up with an MIS
Recommendations:
that can be used by most of the MFIs. Common
1.
FMFB’s experience of adopting technology suggests
failures are due to ill defined business process and
procedures.
2.
that MFIs should invest in relevant technologies after
thorough and careful assessment of their requirements.
There is a shortage of skilled professionals who can
understand technology as well as the microfinance
The requirement should be addressed in perspective of
current needs and future plans.
industry, and be able to suggest the right solution.
7
8. 2.
in overcoming these challenges. CGAP’s Information
MFIs should get their core MIS right before opting
System Support is a prudent initiative to assist MFIs in
for any kind of delivery system.
3.
So far the core MIS of MFIs has been neglected.
getting access to ICT, aligning their MIS and using the
The software industry needs to do more in
developing quality software for microfinance sector.
appropriate IT solution. One of the realizations is “first
things first” i.e. having an appropriate core MIS first before
other systems: keeping in mind the strategic importance of
4.
Capacity within institutions to manage technology is
key to successful implementation and operation of
its
MIS.
MFIs
should
employ
skilled
IT
professionals on their staff.
5.
ICT to the microfinance industry, renewed efforts are
required from all the stakeholders to overcome the
challenges faced by the microfinance industry in taking on
IT.
MFIs must adopt MIS solutions that not only meet
their needs but are also manageable by the MFI from
****************
all aspects. In some cases small and medium size
References:
MFIs go beyond their needs in adopting an MIS that
-
Cheryl Frankiewicz and publiched by CALMEADOW
ultimately becomes a drain on their resources. Such
(2003). IT as a Strategic Tool for Microfinance in
systems reduce the organizations overall efficiency
Africa
and ultimately their sustainability.
6.
-
ADB Releases (2005). Pakistan Economic Update
MFIs can get maximum benefit by investing in
-
Rao, M (2004), Microfinance & ICTs: Exploring
Mutual Benefits and Synergy, Orbicom
technology, and putting in a better MIS solution that
works for them. MIS is a strategic investment for
MFIs.
7.
Progressive policies that make ICT accessible and
-
Firpo, J. (2005), Championing Scale in Microfinance:
Technology’s Role in Delivering Accessible Financial
Services to the Poor
affordable to the majority of the population is
important for encouraging the use of ICT within
About the Author:
microfinance and for the development of the
microfinance sector.
Ali Ahmad, Master in Computer Sciences and MBA with
majors in Management. Ali is CIO at the First
Conclusion
The use of ICT can rightfully be to the strategic
advantage of MFIs. Innovations in ICT have transformed
traditional approaches to microfinance, facilitating
growth and reducing cost. Some of the players have
already started getting the benefit by using MIS and
MicrofinanceBank Ltd (FMFB), Pakistan and has more
than 8 years of experience in the microfinance sector
initially with the Aga Khan Rural Support Programme
(AKRSP) in the Northern Areas of Pakistan and then with
FMFB. A large part of Ali’s experience has been in the
area of designing and developing technology solutions for
microfinance.
similar IT solutions, while the majority of the MFIs have
yet to realize the importance of its use to achieve
outreach and sustainability. The implementation of the
right MIS still remains a big challenge faced by MFIs.
Efforts are also made from various corners of the world
8