Tag Archives: Financial Health

Testing Prototypes of the Financial Health Digital Tool

The Microfinance Centre has launched the next phase of our Building Financial Capabilities and Strengthening Institutions through Customer-centered Innovations project. At the end of June 2019, the project team (MFC staff and the staff of our partner Center for Financial Inclusion at Accion ) tested the first prototypes of the Financial Health Digital Tool—interviewing eight beneficiaries of Fundacja Innowacja i Wiedza (a ...

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Join Borrow Wisely! Campaign 2019

The sixth annual Borrow Wisely! Campaign will take place in October 2019. Borrow Wisely! is an annual international campaign promoting global client protection standards through borrowers education. As with previous years, MFC and partner organisations will be delivering key messages about how to borrow money safely, harnessing the positive power of loans and avoiding the pitfalls of too much debt. Read ...

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Using Human-Centred Design to Develop Digital Tools for Financial Health

In March 2019, Microfinance Centre and Center for Financial Inclusion at Accion teamed up to conduct research in Poland and Serbia using human-centered design principles to develop a financial health digital solution for microentrepreneurs. This effort forms part of our Building Financial Capabilities and Strengthening Institutions through Customer-centered Innovations project. As part of this research, the teams interviewed 17 Polish ...

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Financial Health of Microenterprises

Project background Financial health is more than a simple metric of business success (e.g. profitability, secure cash flow, growth potential, etc.) Financial health is achieved when daily systems help build resilience and pursue opportunities. It includes the ability to meet financial obligations (e.g. bills, taxes, payroll) and  maximize the collectability of sales; access to funds to weather financial storms; and ...

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The Borrow Wisely Campaign 2018 reached over 300,000 people. Join us in 2019!

The Borrow Wisely Campaign strengthens borrowers’ financial literacy knowledge and skills through educational materials, client workshops and one-on-one engagement between borrowers and loan officers. Our final evaluation results of the 2018 Borrow Wisely Campaign are impressive: 24 Campaign partners across 16 countries in Europe and Central Asia reached 311,363 people with campaign messages! Our partners educated people directly (individual meetings, workshops, ...

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MFC’s 2018 Annual Highlights: Top Resources and Activities

What a busy and successful year 2018 was for the MFC! We are thrilled to bring you this review of our key activities and achievements. Enjoy and benefit from the resources we’ve prepared for you! This year, we’ve been working hard to help advance best practice and develop financial inclusion by: Supporting microfinance institutions digitalization: FinTech mapping: We conducted mapping studies ...

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International Workshop on Saving Group Movement in Europe

On the 19th of June 2018, the Hague University of Applied Sciences hosted an international workshop “Saving Group Movement in Europe: A new way to foster financial and social empowerment” in partnership with the Microfinance Centre and Metlife Foundation. This workshop focused on the potential of savings groups for micro-entrepreneurs and citizens who can benefit from improved skills to manage their finances at ...

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The 2018 Borrow Wisely Campaign is Over, but the Impact Goes on…

‘Are you kidding me? This is unbelievable! A financial institution that is taking care of me and my budget? From the bottom of my heart, thank you and MFC for this kind of support!’ A MI-BOSPO client Throughout October, 24 different financial institutions took part in the MFC’s fifth annual Borrow Wisely Campaign. Borrowers from 16 countries in Europe and Central Asia ...

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Toward a Financial Health Tool for Consumers: Test Results Summary

  The Microfinance Centre and Center for Financial Inclusion at Accion are working together to build a financial health tool to assist customers with gauging and improving their financial health, and to assist financial institutions to help them do so as well. During the first phase of the project MFC developed simple financial health quiz, helping people find out how financially healthy their ...

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Building Financial Capabilities and Strengthening Institutions through Customer-Centered Innovations

Time and time again we observed that personal money management skills are crucial for survival of microenterprise, while building up the savings significantly improves the resilience towards economic shocks of the family and helps pursuing the family’s dreams. Thus for years MFC has been working on improving financial health of the low income people. Today, the behavioral economy research shows, that ...

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