THE USE OF TECHNOLOGY IN MICROFINANCE & HINDERANCE FACED BY MFIs

Introduction:

“A good information system is a necessary tool for managing a MFI successfully.”

The MFI organizations’ use different IT systems for tracking client information, managing applications and reporting.

The majority of MFI would like to use more technology for the following reasons:

  1. To improve reporting on financial, operational and social/economic performance.
  2. To reduce costs and improve efficiency.
  3. To add and attract new clients and retain existing ones
  4. Finally to expand geographical outreach.