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Publication Detail
MCPI 2002-01: Documentation of Product Development Processes in Selected MFIs – Review of Related Literature.

This paper traces the development of microfinance products in recent years following the success of the Grameen Bank. The paper: * Presents key developments in microfinance in the Philippines and in other countries based on studies and documented experience obtained by the Microfinance Council of the Philippines (MCP), * Provides the framework for the review of literature, * Describes the ‘Grameen Bank’ approach to microfinancing, * Discusses international experiences in the development of successful microfinance products, * Presents the Philippine experience in microfinance product development, focusing on: o Key MFIs and their approaches to microfinancing, o Microfinance products and development trends, o The product development process. The paper states that: * Microfinance products developed in the last two decades in the Philippines, have increased in complexity and sophistication, and have become more attuned to the needs of the poor. * The product development process includes the following key activities: o Conceptualization and planning, o Pilot testing, o Replication and expansion. * The factors affecting product development include: o The condition of the regulatory environment in which the MFI operates, o Competition, o Market development. The paper concludes that further research and systematic documentation in the following areas would help MFIs in reaching their goal of reducing poverty through sustainable microfinancing: * Actual processes undertaken, * Challenges faced, * Lessons learned, * Identification of what worked and what did not.

PinoyME Foundation
Authors Keywords
Casuga, Magdalena S.; microfinance; microfinance institutions;
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Published in 2002 and available in the MCPI or can be downloaded as full text Downloaded 772 times since November 25, 2011