PRESS RELEASE: Microfinance & New Technologies Summit October 21 & 22, 2008 – The Untapped Information & Communication Technologies (ICT) Market in Microfinance

Source: Microfinance & New Technologies.

Original press release available here.

Microfinance has become a key poverty alleviation strategy the world over. The impact is visible in the form of enhanced assets, decreased vulnerability, increased livelihood diversification and overall improvement in levels of well being in client households.

The World Bank estimates that there are now over 10,000 microfinance institutions, serving over 150 million poor people in developing countries. The total cash turnover of MFIs world-wide is estimated at USD 30 billion and the potential for new growth is estimated at around 30 percent.

ICT proves proficient in enabling MFIs to conceptualize, develop and operate projects for financial inclusion. It supports sector initiatives which are aimed at enabling rural and remote un-banked areas to enjoy the benefits of formal financial products and services. The need remains, however, to examine the use of various technology products and channels in the delivery of microfinance throughout the world, and the development there of.

Microfinance offers a great, largely untapped market for ICT technologies and a chance to make a big difference in outreach, sustainability and the impact of Microfinance.

For this reason, PlaNet Finance, partnered with NASSCOM Foundation and the French Embassy, is organising a global Microfinance and New Technologies summit

Summit Objectives:

• To raise awareness among the ICT companies of the untapped market in microfinance
• To increase knowledge about ICT solutions and their impact on the sector within the microfinance industry.
• To address the need for regulation enabling ICT use in microfinance.

Target audience:

• MFI’s and Microfinance Practitioners
• ICT Companies and Individuals
• Regulatory Authorities
• Donors and Public Agencies

For registration, visit here.

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