In this video, Brian Richardson – Managing Director, WIZZIT, South Africa, shares his views on the scope of m-banking in South Africa along with the challenges ahead for this model of banking. Highlighting the basic advantages m-banking brings to the unbanked: accessibility, affordability and availability, Brian talks about WIZZIT’s mission to provide not only transactional benefits but other services to the unbanked such as savings, loan etc. Further, he talks about the challenges WIZZIT faced was to create credibility and trust in a new brand. He also stressed the need for regulatory framework to lend credibility to the system.
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JLG Center Meeting Process Spandana India
In this video series-8 on Joint Liability Group Lending, MicroSave shows the Centre Meeting Process of Spandana, India. A centre meeting begins with all the members coming to the centre venue where they take a pledge. Further, the field officer takes his pledge and the members pay their installment amount to the group leader who hands it over to the field officer. Any shortfall in payment is again collected and then the loan card is updated. Further, the field officer updates the centre register and loan card.
Are There Lessons For India From Bangladesh?
This focus note provides lessons for the joint liability group based Indian microfinance sector in the realm of product offering from three different MFIs of Bangladesh—ASA, BRAC and Grameen Bank. While ASA’s single product experience provides focussing on efficiency to achieve profitability, BRAC’s experience follows a comprehensive development approach. On the other extreme, the Grameen Bank in Bangladesh provides integrated financial services to its clients. In conclusion, the note suggests Indian MFIs to focus on service delivery as the market matures and competition increases.
JLG Delinquency Management Process Spandana India
In this video series-7 on Joint Liability Group Lending Kabir Kumar, Microfinance Analyst, CGAP, introduces Delinquency Management Process of Spandana, India. This video shows how Spandana ensures the repayment problems are caught early and how it has been able to maintain excellent portfolio quality. At this stage of lending cycle, the field officer along with the group leader visits the member to recover the default payment. If the instalment isn’t recovered the branch manager takes charge of the situation. If the member still defaults regional manager tries to recover from the group.
JLG Loan Utilisation Check Process Spandana India
In this video series-5 on Joint Liability Group Lending, Kabir Kumar Microfinance Analyst, CGAP introduces Loan Utilisation Check Process of Spandana, India. Through this process, MFIs ensure that the funds are being utilised wisely and in an order to generate additional income. The process also helps in building better relations with clients and helps in their financial education. The business visit is necessary to ensure that the loan amount is used for the said purpose. Here the field officer fills the loan utilisation report and confirms the information gathered with the group leader.
JLG Collection Process Spandana India
In this video series-6 on Joint Liability Group Lending, Kabir Kumar Microfinance Analyst, CGAP talks about how does Spandana, India organises their collection process. A typical collection process begins with the members submitting their loan card and instalment amount to the group leader, who in turn handover the collected cash to the field officer. Following which the loan officer verifies the amount collected and then updates the centre register and the loan card of the members.