Microfinance Sector Taps Microsoft to Intensify Technology Adoption

Article excerpt

Saying that technology can be a vital tool for social and economic development, the local subsidiary of software maker Microsoft intensified its collaboration with microfinance institutions (MFIs) by extending $1 million worth of software grant.The Redmond, Washington-based software giant made the announcement during a recent seminar for NGOs it co-sponsored with microfinance organization Grameen Foundation in Makati City.Grameen Foundation, which is a recipient of the Nobel Peace Prize along with its founder Mohammed Yunus, hooked up with Microsoft to accelerate microfinance’s impact on poverty alleviation through the strategic use of technology.Matt Duncan, director of the Grameen Foundation, said in a presentation that the organization’s technology center in Seattle has created an open-source information management platform which MFIs can implement for every country.Duncan said the IT system, called MIFOS, can run Microsoft front-office applications such as Great Plains software. “This is the reason why we’ve also partnered with Microsoft,” he said. …