Conference: Next Generation Access to Finance,Gaining Scale and Reducing Costs w...
Washington D.C., United States, August, 24 2007 -
Organized by the International Finance Corporation and Consultative Group to Assist the Poor, in cooperation with Visa International
Across the globe, pioneering financial institutions including microfinance institutions (MFIs) and banks are using a range of technologies, including credit scoring, to reduce costs and reach new customers. Adoption of appropriate technology, when combined with quality credit information, can allow lenders to manage risk, increase lending volume, and improve operating efficiency—key to the continued growth of access to finance.
For instance, credit reporting among microfinance institutions remains very limited. A recent survey shows that just one in twelve private credit bureaus contains data contributed by MFIs. Evidence also shows that small firms with access to a credit bureau have a 40% chance of obtaining a loan, whereas firms without access to a credit bureau have only a 28% chance to receive a loan. Huge untapped opportunities exist therefore, for microfinance institutions as well as a range of other financial institutions in emerging markets.
In this context, the International Finance Corporation and the Consultative Group to Assist the Poor, in collaboration with Visa International, are pleased to organize a global conference on “Next Generation Access to Finance: Gaining Scale and Reducing Costs with Technology and Credit Scoring,” that will take place September 17-19, 2007 at World Bank headquarters in Washington, D.C.