Model Financial Institution Building (MFIB) with a social mission
Through our nearly 50 years of implementing financial inclusion programs in more than 70 countries, we have developed a set of tools to support the sustainable development of local financial institutions.
WHAT WE DO
A look at our models and interventions.
Model financial institution building (MFIB) with a social mission
- Foundation of individual financial institutions
- Institutional growth of financial institutions, branches, and development of new products & services
- Expansion through a Second Tier Network, linking FIs, and branches
PEARLS monitoring system
What Does PEARLS Stand For?
- Effective Financial Structure
- Asset Quality
- Rates of Return and Costs
- Signs of Growth
Management information systems & other IT investment for financial institutions
WOCCU works with financial institutions to implement management information systems (MIS), which help financial institutions improve internal efficiency and improve business processes, which in turn make it more convenient and cost-effective for their customers. We collaborate with financial institutions to customize the software, ensuring that it will meet their consumers’ needs.
Most recently, in Afghanistan, Colombia, Mexico, and Guatemala, WOCCU translated, customized, and installed MIS software at all credit unions, which enabled them to handle transactions and accounting electronically, facilitate reporting, reduce the human resource burden, and strengthen off-site monitoring of financial performance and operations. In Haiti, our incentive grants enabled microfinance institutions, credit unions, and a private development finance.
WOCCU supports institutions’ technology-driven system networks which enable financial institutions to pool resources, allowing them to:
- Expand points of services and provide a broader array of services,
- Mitigate risks by sharing risks,
- Ensure smooth seasonal liquidity risk (deposit insurance) or increase returns by pooling liquidity, and
- Gain efficiency by sharing investment in infrastructure.
These activities help WOCCU’s partners to expand into client services such as bill payment, national and international shared branching, remittance distribution, ATM networks, card services, and mobile money services. (see example of payment platform architectures being explored by our partner the Asian Confederation of Credit Unions)