Pitfalls Cover
article
Change Management Digital Transformation Digitization Costs Digitization Risks & Barriers Financial Service Providers Program Quality Project Design Project Implementation

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

Published by
Stefan Staschen, Estelle Darie-Rousseaux, Mark Flaming & Gerhard Coetzee
2022
Consultative Group to Assist the Poor (CGAP)
View Resource

This blog series looks at the most common mistakes that microfinance institutions (MFIs) make when digitizing so that other MFIs can avoid them. The articles examine the common pitfalls of not getting the business case right, not listening to the customer, getting bogged down in technology, underestimating change management, and overlooking the regulatory environment.  

For a more detailed look at what we can learn from the experiences of MFIs that have digitized successfully, see the CGAP’s working paper Digitization in Microfinance: Case Studies of Pathways to Success.

Leave a Reply

View all comments

Related Resources

Read
Training
Digital Transformation Digitization Planning Industry Standards Monitoring & Evaluation
DSG Course
Training
Digital Transformation Digitization Planning Industry Standards Monitoring & Evaluation

Digital Savings Group Course

Aga Khan Foundation
2019

Digital Savings Group Course

Developed by the Aga Khan Foundation (AKF), this online course discusses key concepts in digital savings groups (DSGs) and provides a detailed orientation to AKF’s DSG platform. The course is designed for those who wish to support the implementation of DSGs, including project managers, trainers, and village agents. The course consists of 49 short videos. […]
Read
Brief
Digital Inclusion Digital Transformation Project Implementation
Brief
Digital Inclusion Digital Transformation Project Implementation

Digitalizing Savings Groups in Sierra Leone

By Eric Kaduru, Julia Arnold
CARE
2025

Digitalizing Savings Groups in Sierra Leone

This brief outlines CARE Sierra Leone’s collaboration with MiKashBoks to digitize Village Savings and Loan Associations (VSLAs). Through tailored app development, digital literacy training, and mobile money integration, the initiative improved financial management, safety, and autonomy for women. The pilot reached 81 groups, with plans to expand to 200, offering insights into inclusive digital transformation in low-connectivity contexts.