Microfinance for Bankers and Investors:

What promise did Sequoia Capitalrecognize in SKS microfinance (India)that it had also seen in Apple, Oracle, andGoogle?Why would Vodafone help distributemoney via cell phones for millionsof Kenyans?How did a Mexican retailer createa financial-services empire, Banco Azteca,that would serve eight million borrowers infive years?From its origins as a nonprofit povertyalleviation strategy, microfinance has becomea viable business model for providing financialservices to the poor in ways that allow forboth social responsibility and profit, even inthe midst of economic turmoil.Longtime microfinance expert ElisabethRhyne and her team guide readers throughthe landscape of financial-inclusion opportunities,providing lessons from companiesaround the world that are leading the wayin earning profits while addressing globalpoverty.Microfinance for Bankers and Investorsreveals: Changes in the market allowingfor increased private investmentin microfinance New technologies and deliverychannels that reduce costs forsmall transactions Proven ways to overcome the uniquechallenges of serving customersat the bottom of the pyramid Innovative products for grassrootsfinance, such as mobile phonebanking and microinsurance The extraordinary social value andbusiness sustainability of microfinanceMicrofinance for Bankers and Investorsbreaksnew ground by showing how microfinanceattracts top organizations to engage indouble and triple bottom-line businessactivities. With deep insight and clear vision,it examines the unique opportunities andchallenges of providing financial services forlow-income people.Inclusive finance gives companies the prospectof aligning social values with long-termbusiness strategies.Microfinance for Bankersand Investorsoffers the facts and insights youneed to enter this fast-growing market withconfidence.

Elizabeth Rhyne is managing director of.the Center for Financial Inclusion at ACCION International, a.leader in microfinance since 1973 with over 45 years of experience.in the field of international economic development by.providing micro-loans, business training and other financial.services to low-income people starting their own businesses..Ryne has published four books about microfinance, including.Mainstreaming Microfinance..

Preface	p. vii
Introduction	p. xiii
Understanding Clients, the Market, and the Opportunities
The BOP Market Up Close (and Personal)	p. 3
Who Serves the BOP Market-and Who Doesn't?	p. 11
Four Critical Challenges in the BOP Market	p. 18
Products for the BOP Market	p. 27
Three Products: Insurance, Housing Finance, and Remittances	p. 34
Models and Corporate Choices
Corporate Choices	p. 47
Commercial Banks as Microlenders	p. 57
Partners at the Last Mile: Retailers, Banking Agents, and Insurance Companies	p. 66
Models of Financing Inclusive Finance	p. 77
The Emerging Industry of Inclusive Finance
Building the Infrastructure for Inclusive Finance: The Enabling Environment	p. 95
Credit Bureaus and Credit Scoring	p. 103
Last-Mile Technologies	p. 111
The Technological Base: Payment Systems and Banking Software	p. 120
Building the Market for Investing in Microfinance	p. 126
Socially Responsible Returns
Approaches to Social Responsibility	p. 139
Client Protection and Proconsumer Inclusive Finance	p. 148
Measuring the Social Bottom Line	p. 158
Banking Models
ICICI Bank: Shaping Inclusive Finance in India	p. 167
Citigroup Fosters Commercial Relationships with Microfinance Institutions	p. 175
Banco Pichincha and the Service Company Model	p. 181
Banco Bradesco: Twenty-First Century Postal Banking	p. 188
New Players: Retailers, Insurers, and Telecoms
Banco Azteca: A Retailer Surprises Mexico's Financial Giants	p. 195
Vodafone: A Bold Move into Financial Services for Kenya's Poor	p. 204
G-Cash: Filipinos Text Their Way to Mobile Banking	p. 209
Industry Developers
Visa: Social Benefit Systems That Benefit Everyone	p. 219
Temenos: Creating Core Banking Systems for Microfinance	p. 226
Creditinfo: First Credit Bureau in Kazakhastan	p. 231
Financing Models
MF Analytics and Citibank: The Securitization of BRAC Loans	p. 239
Credit Suisse: Bringing Compartamos to the Market with a Successful IPO	p. 245
Sequoia Capital: Private Equity and Indian Microfinance	p. 252
Social Responsibility
ANZ Bank: If the Mountain Will Not Come to Us, Then We Must Go to the Mountain	p. 261
Equity Bank Goes to Schools	p. 266
Triodos Bank and the Global Reporting Initiative	p. 272
Acknowledgments	p. 279
Endnotes	p. 281
References	p. 299
Index	p. 317
Table of Contents provided by Ingram. All Rights Reserved.

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Microfinance for Bankers and Investors: Understanding the Opportunities and Challenges of the Market at the Bottom of the Pyramid

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