Is Mifos the only project with momentum? Or are there other platforms that exist under the radar?

Click here to view the embedded video.

Any thoughts, opinions, or questions would be appreciated.

1. The Consultative Group to Assist the Poor (CGAP) Microfinance Blog discusses the benefits and challenges of various tools used in microfinance and provides a forum to learn more about new microfinance initiatives. There are a variety of contributing writers who share their expertise on the nuances of microfinance, and CGAP also presents fact-based blog entries in addition to opinions on how to improve the industry.
2. The Nicholas D. Kristof blog is a favorite of many readers of The New York Times. This blog is not directly related to microfinance but discusses many of the world problems that microfinance addresses.  It tackles many development issues around the world and discusses issues ranging from hunger to education to women’s rights.
3. A Grameen Foundation blog (Creating a World Without Poverty) discusses Grameen’s work in microfinance and showcases thoughts and feelings from the organization’s volunteers in the field. It provides a variety of voices experiencing microfinance in action around the world.
4. The Wall Street Journal’s India Real Time blog provides a “daily pulse for the world’s largest democracy.” This blog is not solely about microfinance or poverty eradication but it does provides many articles related to daily life and the economic growth of India. It offers regular comments and critiques on the Indian microfinance industry.
5. The Center for Financial Inclusion blog from ACCION International covers and comments on the many new ventures currently in progress in the field of microfinance. It also discusses methods for how to enable more people to access microfinance services in the future.

Visit their site to see the others

Question #1: What alternatives to loans are also available?
Question #2: Has the charity done due diligence on the financial service providers?
Question #3: Are there consumer protection measures in place?
Question #4: Does the charity support capacity building of the MFI’s?

Go to Good Intentions to read more about the fours questions you should ask.

I’m thinking the features would be:

• A short summary of what microfinance is and how it’s being used in the world today
• Short history of microfinance over the past few decades
• Where to volunteer – contact information for a range of organizations that work in the microfinance vertical
• Lend directly to entrepreneurs all across the globe
• Ask a question? Maybe these go to a team of experts to answer on a dedicated Q&A blog

What else?

Is anyone Besides Kiva working on an iPhone app by chance?

PS: I happen to know there is at least one person out there searching Google for a “microfinance iphone app” since someone found my personal blog the other day from that keyword.

Each program is highly immersive, bringing participants on-site to collaborate with local stakeholders. Rather than work on aid-based, short-term projects, FSD’s training programs promote collaboration with communities to enhance the capacity of individuals and organizations to address local health, social, environmental, and economic issues. With ongoing support from FSD’s in-country staff, all programs include: orientation, family homestay, language and grassroots development trainings, hands-on project development experience, debriefing sessions, cultural activities, and access to FSD’s Alumni Connect program, which introduces you to future job and academic opportunities.

Watch the story of Justin Loiseau, a student who spent his time off with FSD in Uganda to help start a bicycle business

This is a guest post from Microfinance Hub.

One of the reasons mobile banking has quickly penetrated developing countries such as Kenya and the Philippines is because the formal financial sector has failed to tap into a huge market composed of the unbanked population. While this phenomenon does wonders for improving financial access for the poor, it also threatens the stability of the social and financial markets by increasing the mobile banking solutions’ vulnerability to misuse by individuals and shady outfits.

A recent article published at the CGAP Blog explores this risk of fraud, money laundering and terrorism when it comes to mobile banking in the developing world. Regulations are already pretty loose in these countries which are why illegal activities are rather prevalent. However, regulators and mobile banking providers are faced with a dilemma:

preventing fraudulent behaviour is vital, and strict Know Your Customer procedures and customer screening can help achieve this end,
however,
it is also a priority to amass as many individuals into the mobile banking net (in order to include them in the formal financial sector) and lengthy procedures can put off potential customers.

One possible solution to this predicament is to tighten post-approval monitoring procedures that attempt to raise red flags when unusual behaviour is spotted:

1. Regular data mining can compare a customer’s transaction size and frequency to his/her profile in order to determine if those activities are consistent with the reported income, and
2. Prompt notifications can be sent to the registered user each time his/her mobile wallet is accessed in order to catch thieves as soon as possible.

These techniques are a step in the right direction even though they are far from fool-proof. You may be interested in reading the full article to better understand the predicament.

Dear Unitus Donors and Supporters:

This is a follow-up to our July 2 announcement that we would redirect our efforts toward new poverty alleviation strategies and initiate no new microcredit acceleration projects. We want to keep you informed about what we’re doing to fulfill our commitments. This letter serves as a stewardship report from our board to you. We are dedicated to using your generous donations appropriately and in alignment with our core mission to help reduce global poverty.

Why We Are Changing our Focus

Unitus’ mission is to reduce global poverty through economic empowerment and this is not changing. What is changing is our focus going forward.

Almost 10 years ago, Unitus identified the potential to dramatically catalyze expansion of the supply of quality microcredit, and subsequently developed and deployed a methodology we called ‘microcredit acceleration’ to realize this opportunity. We saw ourselves as a catalyst for the microfinance industry, hoping that our methods and practices would be adopted throughout the industry. We are proud of the substantial, concrete, positive impact that we’ve been able to make with your support in the operations and scale of our 22 microfinance partners, in the industry overall – and ultimately, in the lives of nearly 15 million of the world’s desperately poor.

After considerable review, we concluded earlier this year that we had achieved our specific microfinance objective: to demonstrate the scalability and commercial viability of microfinance in such a way as to influence the flow of commercial capital toward this crucial poverty alleviation tool. Our decision to curtail additional microcredit acceleration projects was based on strong recommendations from Unitus staff and other respected microfinance experts that sufficient commercial capital was available in many regions to fuel microfinance growth, with additional providers continually entering the field. Understanding this, we felt that we should be very careful in how we would continue to commit precious donor funds to a strategy that had largely achieved its intent.

This realization then necessitated a very difficult decision. Not wanting to unduly spend donor funds on unneeded administrative overhead, we felt an important obligation to scale back our internal operations while still fulfilling our existing commitments and preparing for the next phase of Unitus. This was a painful decision because it involved laying off employees, winding down projects and closing a 10-year chapter of Unitus leadership in microfinance. Painful as it was, we believed then – and continue to believe now – that it was the right thing to do. All this being said, while we tried to make this change in a completely professional and caring manner, we realize that we made mistakes in the way our change was announced and implemented. We apologize for any ill feelings or misperceptions this may have caused to those within and outside the Unitus organization. We could and should have done better executing this organizational shift.

Read the rest here on the Unitus site.

I worked with this organization (The Student Initiative) while studying abroad at LSE (Actually, I co-founded it and now am on the Board of Directors), and was wondering if you could help me pass along a great opportunity to any people, organizations, groups or listservs (particularly university student groups) who you think might be interested in microfinance and development.

The Student Initiative is a registered Charity and an incorporated non-profit ltd. company with official headquarters at the London School and Political Science (LSE) and is based and working at many leading universities.

The Student Initiative is unique because it combines academic grounding in leading university research and education with long-term work in the development sector. Its large student outreach and training enables it to identify the best individual students to work professionally on the issues and on-the-ground in development. Further information can be found on our website: http://www.thestudentinitiative.org/

The Student Initiative is currently accepting applications for new Fellows

What does it mean to be a Fellow?

The Student Initiative Fellows are the young, future and student leaders in development. An application to be a Fellow signals a desire and commitment to play a greater role in development, which The Student Initiative will facilitate. The organisation brings you closer to your ambitions of working in development in various ways. As a Fellow, you will be given guidance, advice and support for the initiatives that you propose. Also, Fellows are our priority candidates for the various opportunities (e.g. internships, research work etc) that we facilitate together with our partner institutions. You will be informed in advance of others about such opportunities, and given an exclusive application time period during which only Fellows will be allowed to submit applications for review. Being a Fellow also means that your CVs will be included in our database, which our partner organizations will have access to. This opens up career opportunities for you in the field of development. The Student Initiative also aims to help Fellows build up experience and gain more knowledge on development-related issues. Participation in the courses that we have designed, writing articles on various themes in development or the events that we organize, and even the organization of these events, are some of the avenues that you can explore you to gain an insight into various themes of development. We are also open to hearing your ideas on how you think you can deepen your involvement with development. Essentially, The Student Initiative aims to bring you closer to development-related issues and careers. If you have a passion for development, a Fellowship with The Student Initiative promises to be a rewarding experience.

To find out more about what our Fellows have done, take a look at our Get Informed pages.

How do I apply?

1. Send your most updated CV to info@thestudentinitiative.org. with the subject title ‘Fellowship Application – Your Full Name’.

2. Fill in this form with the relevant details. The deadline for applications is 15th November.

Should you have any further enquiries, please feel free to send them in to info@thestudentinitiative.org. We look forward to receiving your applications!

My placement will be at the Microfund for Women which in the country of the city of Irbid in Jordan. For 16 weeks in 2011, I’ll be assisting in efforts to help alleviate poverty in the area through microfinance and education. To say this honor bestowed upon me is a once in a lifetime opportunity is definitely an understatement. I will be helping to start a program that doesn’t exist anywhere in the Middle East.

In addition to contributing to his fund via the ChipIn module (which can be found on Nathan’s blog), another great way to help out would be to spread the word about Nathan’s opportunity to anyone who you feel might be inclined to help.

In my mind, helping passionate people such as Nathan reach their goals and help others is a much better investment than your next big screen TV will ever be.