‹noscript>
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
Tool
Data Privacy & Security Digital Inclusion Digital Literacy Digital Transformation
1a. Preparedness COVER
Tool
Data Privacy & Security Digital Inclusion Digital Literacy Digital Transformation

DSG Toolkit: Digital Preparedness Checklist

By Lauren Hendricks, Dennis Mello, Paulina (Paula) Rudnicka
Global Communities, Women for Women International
2022

DSG Toolkit: Digital Preparedness Checklist

This checklist is designed to help implementing organizations gauge their own preparedness to digitize savings groups and to do so in a gender-responsive manner. The checklist will help implementers understand what they need to do to take on the technology, identify required training and support and address gender considerations in digitization projects. These include strategies […]
Read
Research
Digital Payments Digital Recordkeeping Digitization Benefits Digitization Risks & Barriers
Rwanda COVER
Research
Digital Payments Digital Recordkeeping Digitization Benefits Digitization Risks & Barriers

Unleashing the Potential of Digital Saving Groups to Build Financial Resilience in Rwanda

By Yi Nancy Liu & Emile Ndayambaje
UNCDF
2022

Unleashing the Potential of Digital Saving Groups to Build Financial Resilience in Rwanda

This case study examines two digital savings group solutions – Mvend and SAVE – promoted within UNCDF’s REFAD program in Rwanda. These solutions were adopted by REFAD partners to expand financial inclusion and improve resilience in refugee camps and host communities in Rwanda. The case study discusses some of the successes, enablers, and impediments on […]