Lowering Interest Rates

September 7, 2009 at 4:53 pm | Posted in Uncategorized | Leave a comment

Many people who read about my “motorcycle across Liberia to do a loan disbursement” story asked me, “Isn’t there a smarter way to do this with technology?”  Yes!  And it’s on the horizon.  I’m excited about its delivery because the main factor in higher interest rates for microfinance loans is the cost of administering the loans.   Just imagine what your mortgage would be if your Wells Fargo loan officer had to get on a motorcycle for 4 hours through the mud every month to come get your payment…

I’m a huge believer in technology solutions to replace mindless manual labor… such as driving across Liberia every week to get a $5 loan payment.  I’m in conversation with my friend Menekse Gencer, of mPay Connect, who is kindly educating me on the space and the opportunities they offer to Kiva’s 120+ microfinance partners in 55 countries.

MFS

Clearly there is real opportunity.  Click here to see the rest of Menekse’s presentation, including the complete Mobile Financial Services ecosystem, to see how technology will soon be bringing down the cost of administering microfinance loans.

Advertisements

Leave a Comment »

RSS feed for comments on this post. TrackBack URI

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Create a free website or blog at WordPress.com.
Entries and comments feeds.

%d bloggers like this: