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Background

Microfinance is key to supporting the poor and low-income households in middle- and low-income countries to engage in economic activity and in turn support financial inclusion of poor communities. Globally, Micro Finance Institutions (MFIs) have transitioned into for-profit microfinance institutions and regulated microfinance banks worldwide with a variety of funding sources and more diverse products and delivery channels to increase outreach to the communities and micro-entrepreneurs. Vietnam’s microfinance sector is evolving in line with the global trend and moving away from the decades-old NGO-model to a more commercially-oriented industry. Add to this the rise of Digital Financial Services (DFS) that has started to transform the way financial services are being delivered and Vietnam is at the start of the rise of the DFS. Globally, more and more MFIs and Financial Institutions are transforming themselves by embracing DFS in how they deliver their services while remaining true to their social mission. For the Vietnam Microfinance sector to make this transition successfully there is a need to enhance the capacity of the MFIs of Vietnam to be able to understand the pertinent applications for DFS in their businesses and strategically plan their digital transformation to meet the goals and objectives they set for themselves.

Description of the workshop

Microfinance institutions (MFIs) and banks are increasingly facing pressure to go digital. The benefits are numerous, as digital transformation of financial institutions may result in significant reduction in operational costs and considerable increase in outreach and efficiency along with a better focus on client centric solutions. However, making a digital transformation is complicated and the operational challenges can be overwhelming for institutions. Hence, there is a requirement for the financial institutions to develop a common vision for the digital transformation by fully recognising the variety of strategic and operational choices and the pros and cons of these. This training course helps MFIs and banks to understand what digital transformation may mean to them, what strategic and operational options they have to implement digital financial services in their institutions, and the nuances of digital transformation such as the strategic planning, digital transformation of product, process, channel, and technology, risk management, and project and change management.

Objectives

IFC, with MicroSave, will be holding a 4-day workshop for microfinance institutions (MFIs), Bank and Fintechs in Vietnam in collaboration with the Vietnam Microfinance Working Group that will focus on enabling senior leaders of such organisations to develop an insight into Digital Transformation for MFIs and Banks. This course will provide an overview of the approach and framework involved in digital transformation from the institutional introspection that necessarily precedes it, through the strategic planning; process, product, channel and technology automation; and operational integration. The approaches for digital transformation introduced by the facilitators for the course have been developed over a decade of practical work in South and South East Asia, and East Africa and are now being used all over the world for digital transformation.

There are four key learning objectives of this course:

  1. Understand the importance of a systematic approach to digital transformation
  2. Examine options and opportunities for digital transformation of MFIs and banks from the case studies and best practices
  3. Equip leadership of the financial institutions with skills and resources to plan and manage digital transformation initiatives
  4. Appreciate the practical nuances of digital transformation, gather learnings from field, and learn best practices.

Who should attend?

This course has been designed specifically for directors and CEOs of financial institutions involved in high-level business strategy from MFIs and banks that are actively considering digital transformation and implementing digital financial services. Senior IT managers and Operations managers are also likely to benefit from this course.

*Download the workshop agenda for more information: ENG_Brochure_Digital Transformation Training Workshop_HCMC 14-17 May, 2018

Contact

Email: event@microfinance.vn

Tel: +84 968 993 688 (Ms. Hien – Program Officer)

Address: Vietnam Microfinance Working Group, no. 8 Trang Thi Street, Hoan Kiem District, Hanoi City, Vietnam.