The paper describes innovative microfinance products that combine flexibility features with financial discipline. Those are microsavings, microcredit and microinsurance products and they come from microfinance institutions worldwide. This review shows that service providers are introducing various types of flexibility into financial contracts and that flexibility can be combined with a variety of disciplining mechanisms, such as direct screening and monitoring of clients, financial collateral, reputational incentives, and also psychological pressure. We notice, however, that product flexibility may raise the operational costs for the institutions and have a limited outreach.

(2011). Innovative flexible products in microfinance [journal article - articolo]. In SAVINGS AND DEVELOPMENT. Retrieved from http://hdl.handle.net/10446/28870

Innovative flexible products in microfinance

2011-01-01

Abstract

The paper describes innovative microfinance products that combine flexibility features with financial discipline. Those are microsavings, microcredit and microinsurance products and they come from microfinance institutions worldwide. This review shows that service providers are introducing various types of flexibility into financial contracts and that flexibility can be combined with a variety of disciplining mechanisms, such as direct screening and monitoring of clients, financial collateral, reputational incentives, and also psychological pressure. We notice, however, that product flexibility may raise the operational costs for the institutions and have a limited outreach.
articolo
2011
SAVINGS AND DEVELOPMENT
Cet article décrit une série de produits de microfinance innovants qui combinent deux caractéristiques importantes pour les clients pauvres : la flexibilité et la rigueur financière. Il s’agit de produits de micro-épargne, de microcrédit et de micro-assurance proposés par des institutions de microfinance dans le monde entier. Cette analyse montre que les fournisseurs de services offrent différents types de flexibilité dans les contrats financiers et que la flexibilité peut être combinée à une variété de mécanismes encourageant la discipline, tels quele dépistage et la surveillance directe des clients, la garantie financière, les incitants relatifs à la réputation, et aussi la pression psychologique. Nous remarquons cependant que la flexibilité peut impliquer une augmentation des coûts opérationnels des institutions et n’a toutefois qu’une portée limitée.
Laureti, Carolina; Hamp, Michael
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