By Violette Cubier, InFiNe.lu Grantee
Week 2: 13/09/2021
This week’s module was on the response of the microfinance community to the COVID pandemic, and key intakes from the crisis. The module was presented by Robert Peck Christen, President and founding member of the Boulder Institute, and Anup Singh, Regional Head for Microsave Consulting, as a guest speaker. The module was complemented with some live discussions, exercises and readings summarizing articles by leading organizations such as BRAC Bangladesh, CARD Bank, Grooming Center, Fondo Esperanza.
As stressed by Robert Peck Christen and by some participants, the COVID pandemic has had major impacts on staff, clients, and business models. With the COVID crisis, most MFIs have accelerated their digitalization process, with a focus on digitalizing communication with clients and employees, as well as on digitalizing disbursements and repayments. Digital channels have been particularly useful in reaching out to rural clients and in implementing contactless operations.
Challenges of the digitalization process
There are however many challenges associated with this digitalization process. Participants were split in 8 groups during the live session, to reflect on what were the greatest challenges in their digitalization process during this time of pandemic. Participants mentioned the following key challenges:
To read the outcomes of week 1 click here
Author: Violette Cubier
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Picture 1 © Pallab Seth