The Microfinance Technology Council (MFTC) is composed of technology specialists from many of the world’s leading microfinance networks - ACCION International, FINCA International, Grameen Foundation, Opportunity International, Unitus, and Women’s World Banking.

CHALLENGE: Address need for common standards and integration of best IT practices into microfinance operations
The newly formed Microfinance Technology Council (MFTC) was created to address industry-wide problems that are holding the industry back from developing more rapidly across the globe. Players recognized the need to work together on key technology issues, but lacked the leadership, structure, and funding to achieve success.
SEVAK SOLUTION: Created vision, solicited members, launched council, and obtained start-up funding
Sevak Solutions recognized the need for IT collaboration among microfinance industry players and solicited ACCION International’s support. With ACCION leadership, Sevak Solutions brought IT executives from six leading microfinance networks together to form the first association of IT professionals in microfinance. Sevak Solutions drove the organization’s initial agenda, helping it to focus on IT-related information sharing, standards, advocacy and education. Once the members coalesced around core vision, mission, and objectives, Sevak Solutions shifted its focus to fund raising, successfully obtaining the start-up capital required by the newly formed Microfinance Technology Council.
RESULTS:
  • Reached consensus among potential members on shared goals as well as commitments for ongoing regular dialogue about common pain points and solutions
  • Officially launched Microfinance Technology Council in May 2007
  • Members meet monthly by phone and quarterly in person to collaborate on common IT goals and to drive the microfinance industry forward
  • Since inception, members have agreed to investigate Application Service Provider (ASP) models for their banks and promote MIFOS for non-profit institutions within their networks
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