The digital transformation of microfinance institutions

The digital revolution is profoundly transforming the world of finance and pushing financial service providers to adapt themselves. For many experts, the digitalization of microfinance is a long-term trend within the sector, and an important tool for improving the services provided to clients. Digitalization also allows MFIs to increase their revenues and reduce their costs, and therefore to sustain their operations.

 In addition, digitalization makes it possible to strengthen interactions with customers. MFIs, like traditional banks, have significant competitive advantages over fintechs since they have historical and privileged relationships with their clients; they hold data on their financial behaviour and have the infrastructure to provide the human touch that low-income customers need.

Organisations must therefore train themselves to be able to implement a digitalization strategy adapted and in accordance with the needs of their customers. This training will thus provide institutions with the necessary tools to pursue or initiate this digitalization process. It will allow, among other things, to fully understand the issues and evaluate the efforts to be made on a financial, technical and organizational level but also to understand the different options for the deployment of digital finance within institutions.