Digital Finance & Innovations in Microfinance by Faheem Ali
A featured article of our January 2020 edition of PRMIA's Intelligent Risk quarterly newsletter
Technology has enabled institutions and individuals with faster and more secure ways for transactions, resulting in increased efficiency. Microfinance, in particular, benefitted from the integration of digital lending in the legacy systems.
Technology is taking over every critical aspect of our day-to-day life, with artificial intelligence, Internet of things, and voice assistant. The waves of transformation are fast penetrating the microfinance sector, which is thereby gaining momentum to emerge as the novel digital system by rising over the traditional time-consuming loan processing procedures.
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