The use of computers, mobile phones and other ICTs in community banking can assist microfinance institutions and credit officers in managing and recording loan payments, savings deposits and improving bookkeeping accuracy. But the potential of ICT solutions to improve the lives of rural women in Peru goes beyond giving them access to loans.
ICT-enabled solutions can assist microfinance institutions and community banks to set up skill training and adult education programmes that best address their need to train and advise their clients, not only to increase their chances of managing profitable businesses but also to improve their quality of life.
In Peru, the Connect4Change
consortium led by IICD has developed together with PROMUC
and Text to Change
, an integral ICT-enabled solution that in 2013 serviced 21,000 women and aims to reach out to 160,000. Since most of the impoverished women benefitted by group-lending live in rural or semi-urban areas, they need training to learn the basics of financial services. The Connect4Change capacity development programme includes sessions about best practices in small business management, business plan development, insurances and over-indebtedness.
The ICT-supported community banking project uses mobile phones to send information about group meetings, financial products, credits, interest rates, late payments and loan payment reminders. Iin additions, they also receive information about best practices in managing funds and working capital to start off their own businesses. Further details