Abstract
This Financial Insights report examines the growing use and effectiveness of
technology in microfinance. Two short case studies from Indonesia and India are
presented. The leveraging of biometric and smart card technology by these banks
promises a bright future of growth for microfinance initiatives in the banking
industry in developing countries in Asia.
Abhishek Kumar, senior research analyst, Asia/Pacific Banking Advisory Service,
notes, "Banks in Indonesia and India have emerged as the front-runners in
deploying advanced technologies to grow their microfinance businesses. The
success of these programs invites banking peers in these and other Asian
countries that may not have previously considered microfinance as a viable
business." Kumar concludes, "These banks have also been able to dispel the myth
of biometric authentication systems' being an expensive technology for use in
consumer and mass financial services."
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