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Microfinance and Technology
2009, Lee, T.
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Leveraging technology to enhance microfinance services
This presentation demonstrates the potential of technology in microfinance. It analyzes the microfinance market and the obstacles to its growth, and presents technology solutions.
Over 3 billion people live on less than US$2 a day and only 17 percent have access to formal financial services. This has given rise to informal, and sometimes, destructive financial services practices. Studies indicate that access to banking services can help alleviate poverty. Constraints to traditional financial services business model in serving the unbanked include distribution costs, lack of credit history of borrowers, low literacy rates and issues with physical security and transparency.
The presentation offers highlights of the IBM Microfinance Processing Hub, which is a shared, on-demand technology platform that supports microfinance banking operations. The Hub:
- Enables MFIs to link with other key players from the financial industry such as regulators, international payment networks, Smartcard vendors, credit bureaus, telecom companies and donors;
- Enables MFIs and banks to reduce costs, scale rapidly, and become better integrated with the overall financial ecosystem for MFIs;
- Supports billing per-account, per-month by IBM to MFIs.
| 04 Jul 2010 | |||
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Microfinance Hub
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