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
article
Digital Financial Services Digital Inclusion Digital Literacy Digitization Planning
Free Phones
article
Digital Financial Services Digital Inclusion Digital Literacy Digitization Planning

Can Free Phones Close the Gender Divide?

By Catherine Highet, Nisha Singh & Arisha Salman
Consultative Group to Assist the Poor (CGAP)
2021

Can Free Phones Close the Gender Divide?

This article explores the gender gap in mobile phone ownership and efforts to get phones into the hands of more women at the last mile. While these efforts have undeniably increased women’s access to phones, it is less clear if and how women are using phones to improve their lives. The article concludes that handset […]
Read
RESOURCE
Digital Inclusion Digital Transformation Digitization Planning Innovation
2023 01 31 07 27 56 6 Reasons Your Digital Innovations Can Fail to Reach Adoption and 3 more pages
RESOURCE
Digital Inclusion Digital Transformation Digitization Planning Innovation

6 Reasons Your Digital Innovations Can Fail to Reach Adoption

By Laura Scanlon
ICTworks
2023

6 Reasons Your Digital Innovations Can Fail to Reach Adoption

The article discusses six key reasons why a digital innovation product or service would fail to become widely used. They are related to organizational structure and capacity, unrealistic expectations, magpie mentality, first impressions, measurement, and founder dependency. The article also offers suggestions to bolster adoption of digital innovations, including creating a roadmap to adoption, giving […]