Local MFIs’ high-tech investment
The first time Leang Horng, a resident of Kandal province’s Saang district, made use of a micro-finance institution, a loan was the only service he needed. At that time, Horng had no idea about deposits or money transfers. But things have changed in the past few years, and his family’s standard of living is getting better. “Besides [taking] loans, I opened a savings account at a micro-finance institution,” Horng says. His experience reflects a trend in the Cambodian MFI industry, as players have upgraded their tactics to remain competitive in the market. Product diversification is becoming a key strategy to satisfy MFIs’ customers. Technologies such as mobile banking and ATM services are becoming compulsory for leading MFIs. Insiders say this is boosting competitiveness in the industry and opening up new sources of funding for micro-finance institutions. …
http://www.phnompenhpost.com/2013022661599/Business/local-mfis-high-tech-investment.html
