Comments on: CGAP invites you to a webinar on MIS for Microfinance

By: Jim Rosenberg

Jim Rosenberg — Thu, 27 Aug 2009 21:23:36 +0000

Funding can certainly be a challenge when it comes to microfinance and technology. Many funders understand that MFIs may need funding to purchase new technology, but they like to see that your organization is well prepared for a new MIS and that you have a plan in place to maximize the benefits of new technology. CGAP’s IS Fund is designed to help MFIs with these activities, including anything from project preparation and needs assessment to implementation and optimization. The IS Fund does not fund hardware or software, but can help you develop a concrete plan which you could then present to funders. You can learn more about the IS Fund at http://www.cgap.org/isfund or email us with questions at isfund@cgap.org.

By: Lydia Anyangu

Lydia Anyangu — Tue, 18 Aug 2009 12:15:56 +0000

We are a small MFI based in Nairobi Kenya with intentions to grow to other parts of the country.

I agree that Technology is a major component of MFI development. The challenge we face is that we cannot access a suitable software without funding and we will not get funding without adequate MIS. This puts our organization at a cross road and we would be greatful if we could funds(Grants or loans) to help us update our MIS.

By: Sarah Rotman

Sarah Rotman — Mon, 06 Jul 2009 14:17:44 +0000

Hi Jose,

The webinar already took place on June 3rd. I think you are reading the post as July 3, but it was last month in June. There is a link to the video of the webinar, so you can easily watch the event and follow the discussion by clicking on the link to the archived video. Thanks for your interest.

By: Jose Vallejo

Jose Vallejo — Fri, 03 Jul 2009 00:41:18 +0000

In Colombia I am right now on Thursday, July 2. If the Webinar is on July 3, at noon, Washinto D. C., (Eastern Standard Time), that is one hour behind our time in Colombia, the event will be tomorrow for me. But I am reading several comments posted on Friday July 3, as if the event alreadywas presented . If the Webinar will be tomorrow, please send me information on how I can connect, because I haven’t found that information on your web site.
Many Thanks,
Jose Vallejo

By: Jose Vallejo

Jose Vallejo — Thu, 02 Jul 2009 23:09:09 +0000

Dear Webcast Fellows:
In our Uniminuto University, in Colombia, we are running a Loan & Saving Cooperative that gives small credits to many poor students in more than 20 cities, most of them in small villages. Our University has recently signed a US$15 million project with IFC (World Bank) that will permit it to become the largest university in our country, with sites in many small cities.
Most of our students are very poor and require cheap credits to enroll in the University. Thus, Uniminuto is currently subsidizing these credits with its own resources, but this is a very expensive practice, impossible to maintain with the expected future growth.
Therefore, we want to transform our Cooperative into a Microfinance Bank, learning from the experience of all the people involved in MFIs. But we have a big challenge: While microcredits for small business can charge high interest rates, student credits usually charge the lowest interest rates in the market. Thus, if we turn our Cooperative into a bank, collecting resources from public savings and deposits, as well as receiving credits from other financial institutions, the only way to lend money at low interest rates is organizing an extremely efficient bank, with very low operating costs, in order to minimize the financial support from the University.
We expect to attain this lower costs goal by operating in a big scale, and by putting in place an excellent system’s technology, and designing a very special microfinance bank, where most of the University students that will have internet connection, will not need face to face interaction with an officer for most of their transactions. Therefore, we are looking for an excellent financial software, with magnetic card capability, credit scoring, etc. Our University runs SAP, thus the administrative tasks of the Cooperative also will be running SAP, so the financial software will need interface to SAP. We are planning to get support for this project from the Inter American Development Bank (IADB), or another similar institution.
Thus, my question to you all is:
Do you think MIFOS can help us solve the big problem we are facing?
I will attend your webcast tomorrow to learn many important things about MFIs, and to see how we can find help to structure this ambitious project.
Thank you in advance for any help we can receive.
Jose Vallejo
Uniminuto University
Bogota, Colombia

By: Tesfaye Yirga

Tesfaye Yirga — Sat, 20 Jun 2009 08:51:10 +0000

Is there an integrated MIS for MFI please?

Do you think that is not possible to solve the problem of MIS for MFI’s?

Benishangul Gumuz Micro Finance
Ethiopia

By: Ajetunmobi Olumayowa

Ajetunmobi Olumayowa — Wed, 03 Jun 2009 20:13:47 +0000

Please can we look into credit scoring and MIS in Microfinance.

Evaluation report generation by MIS in MFI for management decision .

Which direction are we MFI and Technology in MFI?

Is there a possibility of setting an agenda to full MIS compliance of MFI around the world?

By: Ajetunmobi Olumayowa

Ajetunmobi Olumayowa — Wed, 03 Jun 2009 19:43:28 +0000

Branchless Banking in MFI’s in Sub Sahara Africa is on the lower ebb, I strongly feel there is a need for investment in Mobile Banking with the use of Terminals, Mobile Phones etc.

Successes have been recorded in some parts of SSA, but a greater percentage of MFI institutions are yet to take advantage of the opportunity the Mobile telephones afford them.

Advocacy and enligtenment on the part of clients is still low despite the high use of Mobile telephones in SSA.

Telephone Operators should develop platforms on which MFI’s can latch on for the delivery of this services.

What are we doing to expand this service to MFI\s and their clients in SSA

Ajetunmobi Olumayowa
AOW Integrated Resources
Nigeria

By: Ajetunmobi Olumayowa

Ajetunmobi Olumayowa — Wed, 03 Jun 2009 19:34:23 +0000

Hi everyone, I hope this till meets the webinar deliberations.

I have this few issues with the introduction of MIS and technology in Microfinance.

1. Considering the funds needed to develop a qood MiS for Microfinance, How do we thing small players in the field today will be able to afford MIS?

2. The introduction of MIS into Microfinance is meant to bring down cost, fast track operations, reduce fraud and generate qualitative information for evaluation and monitoring. We are yet to see a large number of institutions empirically coming out with evidences of how MIS has really added to the bottomline. I feel more still need to be done on this.

3. Innovative funds for MIS for MFI should be looked into for the development fo Microfinance across the world. Small Microfinance institutions with less 20,000 clients should be helped with technology that will be able to monitor thier operations. If possible donors should come more to the rescue of this microfinance institutions.

4. Definitely, MIS for MFI could be expensive, but not inclusion of MIS in the operation of Microfinance can send them out of operation. Hence an encouragement for MFI’s to use MIS that meets thier need of their operation and expand with the use of MIS as thier operation grows.

5. Local MIS initiativeld should be encouraged for MFI’s and adaptable MIS should also be given more chance in MFI\s around the world.

I look forward to a good Webinar.

Kindly present links to various documents and information on MIS and Microfinance.
Thank you
Ajetunmobi Olumayowa
AOW Integrated Resources
Lagos Nigeria

By: George Staicu

George Staicu — Wed, 03 Jun 2009 18:00:46 +0000

Another two questions

1. Is the CGAP’s 1998 Management Information Systems for MFIs Handbook going to be updated?

2. Should an MFI softare be compliant with Disclosure Guidelines for Financial Reporting by Microfinance Institutions , with IFRS /IAS or both?