Tag: Microfinance

The startup FLYK provides credit services to the low- and moderate-income (LMI) segment in India through its mobile app. FLYK uses psychometric assessment to understand consumer behavior beyond CIBIL scores. It underwrites loans through alternative data, which allows increased inclusion among its rural borrower segment. Through its “Combined Responsibility Network (CRN),” FLYK works to overcome the limitations of traditional lending models. Learn more about how the startup understood the need and recognized the solution here.

The microfinance sector provides capital access to the society’s underserved segment. In India, this sector is growing significantly. However, the existing underwriting model follows the conventional method of credit score, which rules out a huge segment with zero or thin-file credit. Alternate data is required to meet this segment’s credit needs. Listen to our podcast to understand how Microfinance.AI uses this unserved segment’s digital footprint and provides them with capital access.

The case study encapsulates the digital transformation journey of BURO Bangladesh as it tried to offer mobile financial services to its clients. The road was not easy, but the efforts have finally started to yield results to both the MFI and its customers.

As Bangladesh celebrates 50 years of independence, we look back at one of its greatest gifts to the world—microfinance. This blog highlights the role of Bangladesh’s four pioneering institutions—Grameen Bank, BRAC, ASA, and BURO Bangladesh—in the origin of microfinance and its local popularization, global adaptation, business model optimization, and product innovation.

There is a business case for digital transformation for financial institutions and this case study from Kenya, from Equity Bank, demonstrates to us how digital transformation helps financial institutions increase efficiency, serve more customers, and reap greater profits. 

MSC’s comic booklets on COVID-19 are illustrated narratives that build awareness among CICO agents and their customers during the pandemic. These comics feature rich visual stories to generate awareness, influence precautionary behavior, and drive the safety of agents.