Digital Future of Microfinance: A Realistic Path towards Big Dream
The industry that once was a vanguard of financial inclusion and remains unchallenged in serving the lowest tiers of customer segments is dreaming of a digital future. In the search for a roadmap toward that future, microfinance institutions and investors have deployed significant resources in digital technology with varied results. Expectations are high – the $200 billion industry is expected to grow and expand its mission, not least to support climate adaptation and mitigation efforts.
Following key principles identified through previous work (https://www.cgap.org/research/publication/digitization-in-microfinance-case-studies-of-pathways-to-success) , CGAP has conducted a series of pilots and exercises in a community of practice. Through this work, we demonstrated how most microfinance institutions can leverage technology to grow their business, deliver value to customers, and embark on the digital future.
Join this virtual workshop to learn what we did and whether we succeeded. The workshop will be divided into two sessions of 90 minutes each (you can choose to join either or both sessions):
• In the first, we will present the principles of successful digitization and provide examples of how those principles get implemented. The session will feature findings from the CGAP pilots and main insights.
• In the second, the community of practice members will share their experience from the CGAP project and the results. The session will focus on the credit renewal automation pilots and insights from the work on business intelligence.
The workshop will be held in English and simultaneously translated into Spanish and French. While our speakers will share what successful digitization looks like and what the future of microfinance could be, all attendees are invited to participate in the discussion and share their experiences.
Time: 9:00 AM ET
Date: Tuesday, June 6, 2023