Microfinance and ICTs
The microfinance sector endeavours to cater for all of the needs inherent to the everyday life of people with limited resources, who were historically excluded by the finance sector as they were considered high-risk profiles with reduced profitability. Microfinance institutions have therefore acquired innovative methods to interpret and design financial products and services to meet the needs, preferences and circumstances of this segment.
The arrival of ICTs has substantially improved key functions in microfinance operations: the design, development and application of risk analysis technologies and internal management; process management and mechanisms to interpret and administer information; and the quest to provide service quality by creating new channels of distribution and attention.