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Fundación delamujer is a number one MFI in Colombia and fellow Girls’s World Banking community member. It was based over 28 years in the past and is headquartered in Bucaramanga, a producing metropolis in Colombia. Over the course of its lengthy existence, it has seen many modifications however the true transformation began 4 years in the past when the small MFI determined to develop quickly and increase to all elements of the nation fairly than being confined to the small metropolis of Bucaramanga. Additionally they launched and grew their particular person lending portfolio. Their present footprint is 258 branches (up from 34 branches simply 5 years in the past) with a buyer base of 4.59 lakhs. Given all of those traits and the truth that Colombia, like India,is a extremely advanced and aggressive marketplace for microfinance, Fundación delamujer was the perfect establishment for Ujjivan to have a data change with: theirgrowth story gave us helpful insights as Ujjivan begins to quickly scale up of its group lending and particular person lending companies.
What did we be taught?
Fundación delamujer has a really structured advertising and gross sales course of. To achieve out to the goal buyer at huge scales, it undertakes numerous gross sales actions, together with group campaigning by small partaking actions, door to door advertising by the mortgage officers, van campaigning and roadshows aside from utilizing common channels like TV, radio, posters, canopies and many others. 55% of latest clients are sourced by referrals; the prevailing clients are rewarded and acknowledged for referring acquaintance as a brand new buyer.
Product variety. Fundación delamujer presents particular person enterprise loans and client loans of varied sorts. There are particular mortgage merchandise for rural areas primarily based on agriculture and associated actions. All these merchandise have a number of variants that are supplied to completely different clients segmented into three distinct classes with the assistance of a credit score scorecard. All of the processes, whether or not within the entrance workplace or in again workplace, are clearly outlined and there’s a lot of emphasis to stick to the identical.
Employees. Fundación delamujer takes delight within the high quality of personnel it hires. All of the mortgage officers are appropriately profiled earlier than recruitment utilizing psychometric exams. Their coaching methodology consists of e-learning modules, classroom coaching and most significantly, in depth mentoring by the supervisors whereas on the job. Consequently, the productiveness of the mortgage officers may be very excessive.
The educational was not all one-sided… it was a data change in spite of everything. Over the course of the journey, we had been in a position to share our experience in organizational greatest practices and group lending. Ujjivan has constantly ranked among the many Finest Locations to Work in India for 3 years, within the firm of corporations like Amex, Visa and Google. Additionally, as a result of Ujjivan is a profitable group lender, we had been in a position to focus on our technique and method to our hosts from Fundación delamujer.
Our week-long go to to the main NGO MFI of Colombia was facilitated by employees from Girls’s World Banking: credit score supervisor, Ms. Bettina Wittlinger, community and enterprise improvement supervisor Mr. Gil Lacson and Fellow Ms. Ines Marino (who additionally doubled up because the interpreter throughout conferences and even supper time!). They helped us benefit from the training alternative, serving to us put together for the journey and whereas there, gently nudging us on methods to maximise what we discovered. We’re grateful to Girls’s World Banking, our useful resource associate and consultants, and their consultants who accompanied us.
General, the expertise was implausible with a lot of helpful studying for all times and never only for enterprise. It was fantastic to get a glimpse of the Latin American tradition. One other pleasure is that the Fundación delamujer appreciated our openness and thanked us for the mutually enriching expertise. Lastly, the 30 hour journeys flying to and from South America from South Asai have been memorable ones, with individuals of various nations, cultures and background giving us completely different perspective to life. And here’s a journey tip if you go to Colombia: have their peaches! They had been so juicy in Bucaramanga, or because the locals say, Suculento!
Co-written by: Sneh Thakur and Murli Manohar
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