Tanzania — new technologies are helping expand financial inclusion among the unbaked and under-banked, but their uptake requires several careful considerations, according to some analysis and researches done, an MFI should consider many factors before investing/adopting technology investments. See some factors
1.Invest because you need the technology, not because it’s on trend.
“It’s not a matter of it being new and trending that you need to adopt it. No. It’s about matching the weaknesses you find in your own organization with the opportunities out there and the advantages that you can take, if you are in a position to do so
2. Do the benefits outweigh the risks?
Is it difficult for you to find someone with necessary IT skills in your operation whom you can “hire and afford? Outsource IT services is the solution...
What effectively it does is, it leaves the IT to the IT professionals … and on our end that leaves core business to you, which is as it should be.
3. Educate your organization to create buy-in.
Not everyone in an organization understands how important is to invest in technology, sometimes these people may be the board of directors or the CFO. Educate the whole organization although there was a particular emphasis on the board it may be a big decision that needs their approval.
4. Give careful consideration to staff ...
There has to be an open and transparent communication with all the stakeholders and especially the employees on what we’re doing and why we’re doing it, especially for projects that bring automation and then redundancies.”
5. Including the time to learn and adjust to the new technology
take into consideration how complex is what we’re trying to implement, and how much time do people actually need to reach their maximum capacity.”
6. Capture the lessons
It is necessary to carry out evaluations of the investment projects throughout its life cycle, capturing lessons along the way.
7.Consider improving your business case before automating your business
A business process is a collection of linked tasks which find their end in the delivery of a service or product to a client. A business process has also been defined as a set of activities and tasks that, once completed, will accomplish an organizational goal.
"Technology applied to an inefficient business process will magnify the inefficiency but technology applied to an efficient business process will magnify the efficiency" Bill Gates