Digitization can benefit microfinance institutions (MFIs), but it also creates regulatory complexity. Losing sight of the regulatory environment can lead to costly mistakes. Here are three regulatory aspects of digitization for MFIs to consider.
Microfinance institutions are often unprepared to manage the changes that come with digitization. The good news is that through effective change management, they can digitize successfully and generate value for themselves and their customers.
Rushing into technology solutions, without having the institutional capability in place to commercialize them, is a common mistake microfinance institutions make when digitizing. Here's how to avoid this costly misstep.
Customer centricity is key to ensuring a microfinance institution's digital solutions actually meet customer needs -- and there's ample evidence it's good for business. Yet many microfinance institutions overlook this critical aspect of digitization.
Kicking off a new series on how microfinance institutions can avoid common mistakes when digitizing, this post highlights the need to start with a clear business case and presents six proven ways digitization has benefited microfinance institutions.
Microfinance institutions (MFIs) around the world are exploring ways to digitize their operations. While some have achieved success, others have found this to be a difficult, costly endeavor in which success is anything but guaranteed. This blog