2010 was both an enriching and challenging time for VisionFund’s
systems and technology strategy. At midyear, it was decided
not to roll out the Global One project beyond the Ethiopian
pilot as was originally planned. The Global One model encompassed
a core banking application as well as a centralised infrastructure
and support platform. In spite of this change, the MFI network
was enriched as VisionFund was able to leverage lessons learned
from the pilot to initiate a systems governance structure that
has provided strong guidance on quality and security for local
and regional systems implementations.
Beyond core banking applications, VisionFund affiliated MFIs
are actively researching and adopting new technologies such
as mobile banking, eWallet, and cloud computing in order to
better serve clients and increase outreach and impact.
Mobile banking has allowed micro borrowers to transfer funds
via their mobile phones through a partnership with third party
eWallet provides the technology for micro borrowers in the
country of Georgia to purchase, sell, pay for services, and
send/receive money between each other. In the future, eWallet
is expected to expand to other markets.
Finally, the advent of mobile cloud computing has allowed
MFI staff in Honduras to assess the credit status of potential
micro borrowers in the field, and provide a preapproval process
on the spot. This system has streamlined the approval process
for many micro borrowers in Honduras, allowing the entrepreneurial
poor to access loans in a shorter amount of time.
2010 was a year in which the global economic crisis continued
to impact microfinance efforts. However, the VisionFund network
of affiliated MFIs was able to respond well to the impact of
the economic conditions. Restructuring to accommodate lower
revenues, improving lending processes, and the continued strengthening
of collection processes led to increased performance and a stronger
During financial year 2010, three of the four regions where
VisionFund affiliated MFIs work experienced an increase in their
outstanding portfolio. In fact, in the Asian region, MFIs collectively
saw a 33.4% growth in portfolio.
From a funding perspective, 2010 saw an increasing flow of
funds towards microfinance, with a number of multilateral funds
being put in place and increased participation in microfinance
by some mainstream financial services organisations.
VisionFund worked with over 80 external lenders to provide
leveraged debt facilities to affiliated MFIs in every region.
VisionFund has striven to secure socially minded mission partners
and as such is pleased to partner with the finest microfinance
lenders in the world including Blue
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VisionFund seeks to eliminate or reduce negative environmental
effects and enhance positive ones. For example, VisionFund actively
supports a healthier environment by reducing travel through
utilising collaborative conferencing software for virtual meetings.
Further, VisionFund affiliated MFIs are committed to supporting
those businesses which have a positive environmental impact
and to the training of borrowers to recognise and avoid negative
"I am inspired by the measurable change VisionFund loans
bring to the lives of financially poor entrepreneurs and
their families, particularly when these loans are coupled
with World Vision's long term development work. The initial
loans are continuously recycled to more entrepreneurs, meaning
that more and more communities are being sustainably transformed.
It’s a simple idea and it works."
Chief Executive Officer, World Vision New Zealand