The Mindanao Microfinance Council will be having its first Microfinance Information and Communications Technology Fair (MICTF) on June 15 and 16, 2009 at the Grand Regal Hotel, Davao City. It is a gathering of information and communications technology (ICT) providers and technology users from the microfinance and rural finance sector.
The objectives of this event are to promote the use of information and communications technology for more efficient microfinance institution (MFI) operations; to provide opportunities for ICT services providers and MFIs to interact; to raise awareness and provide information to MFIs on the various ICT options and innovations they can tap to make organizations more effective and efficient in achieving institutional goals; and to raise awareness of ICT providers on the needs of MFIs concerning information management and on other ICT issues.
With the growth of microfinance outreach come the need for information and technological solutions to help microfinance operations become more efficient and effective in achieving both financial performance and social goals.
Microfinance has been the cornerstone of development and recognized globally as an effective tool in reducing poverty. In the past decade, microfinance practice in the Philippines has grown exponentially with an outreach of over 2.65 million1 microfinance clients nationwide as of the end of 2008.
In Mindanao, there are over 635,000 microfinance clients being served by microfinance institutions as of the end of 2008. The Mindanao Microfinance Council member MFIs are aiming to reach a total of one million microfinance clients by the end of 2013. With this projected growth, Mindanao MFIs (and other MFIs) will need the use of state-of-the-art information technology and systems to make operations and information management more efficient and effective.
At present, there are various providers of services available for MFIs. Knowing which one is most appropriate for its operations and finding the right IT organizations and service providers that will help them is one of the biggest challenges facing MFIs.
Invited to the MICTF are the technology managers and executives/directors of microfinance institutions in Mindanao, Visayas, and Southern Luzon. The MICTF exhibit area and booths will be extended to coincide with the 2nd Microfinance Best Practices Forum (MBPF) on June 16, 2009. The 2nd MBPF will cater to an audience composed of Board of Directors/Trustees, Chief Executives and managers of microfinance institutions from Mindanao, Visayas and Southern Luzon.
The MICTF hopes to bring both providers and users of technology together to allow an exchange of information on what the MFI sector needs and know what the providers are capable of providing.