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MMU Products – Credit

Microfinance has given millions of people access to financial services for the first time. Microfinance refers to all financial services that help poor people better manage their lives and their money, and includes insurance, savings and microcredit.

Microcredit involves giving small loans to poor individuals for a range of purposes, and can be seen as a narrower subset of microfinance. As such, mobile money providers and microfinance institutions are starting to work together to improve the quality and range of financial services available.

It’s increasingly clear that assets and capabilities of microfinance institutions and service providers are complementary, and range from distributing cash and electronic value using MFI infrastructure to disbursing microloans and accepting repayments on mobile systems.

This area highlights articles, blog posts and other resources that operators may find useful when researching this topic.

1. WHAT ARE THE VARIOUS ROLES THAT MFIS CAN PLAY IN MOBILE MONEY?

Microfinance: From Manual to Mobile Enabled

Author : SMART

 

Microfinance and Mobile Banking: The Story So Far

Author : CGAP

This Focus Note does two things: explore the various roles that MFIs can play in mobile money and  explore the benefits MFIs and their customers could gain from with mobile money.

Beyond Payments – Next Generation Mobile Banking for the Masses

Author : Planet Finance and Oliver Wyman

This resource studies distribution strategies and second generation mobile microfinance products, exploring the power of mobile technology in providing low income consumers financial products beyond simple mobile payments.

2. OTHER RESOURCES

Accelerating Financial Inclusion through Innovative Channels

Author : Amitabh Saxena

Discover  ten challenges holding MFIs back from deploying alternative channels. The article includes a roadmap for MFIs—and broader stakeholders—aiming to overcome these hurdles.

Reframing Microfinance: Enabling Small Savings and Payments, Everywhere

Author : Ignacio Mas

How do we deliver sustainable savings services to poor people? The key elements in the savings discussion are described here, as well as an analysis of four key elements that underpin the viability of micro-savings offerings.

Mobile Banking – The Key To Building Credit History For The Poor?

Author : USAID

Mobile transaction data may potentially help this population establish a formal credit history, help lenders more accurately evaluate credit risk, and lead to increased access to financial services for the poor.

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