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Blog Series

Pitfalls in MFI Digitization: What They Are and How to Avoid Them

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 series looks at the most common mistakes that MFIs make when digitizing so that other MFIs can avoid or escape them. For a more detailed look at what we can learn from the experiences of MFIs that have digitized successfully, see our recent report "Digitization in Microfinance: Case Studies of Pathways to Success." 

This series is also available in Spanish. 

A microfinance agent speaks with a customer in the remote highlands of Peru.
Blog
16 February 2022

Pitfalls in MFI Digitization: Overlooking the Regulatory Environment

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.
An Amret customer
Blog
11 January 2022

Pitfalls in MFI Digitization: Underestimating Change Management

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.
Business colleagues review information on a computer screen.
Blog
16 November 2021

Pitfalls in MFI Digitization: Getting Bogged Down in Technology

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.
A representative of a microfinance institution meets with prospective borrowers in Siby, Mali.
Blog
05 October 2021

Pitfalls in MFI Digitization: Not Listening to the Customer

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.
A digital finance agent helps a customer swipe card at point-of-sale device in Lagos, Nigeria.
Blog
21 September 2021

Pitfalls in MFI Digitization: Getting the Business Case Right

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.

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