Triple Jump at European Microfinance Week
Triple Jump was a proud sponsor of the European Microfinance Week which took place in Luxembourg from November 14-16, organized by e-MFP. This year, with a diverse line up with over 80 organizations, topics of discussion included clean energy finance, smallholder finance, regulations, client protection and finance for refugees. During an interactive session on Green Inclusive Finance, Andres van der Linden, ESG and Impact Officer at Triple Jump, spoke on behalf of NpM Platform for Inclusive Finance and discussed a proposal he developed to harmonize the definition, approach and metrics used to address green inclusive finance.
Yet, the main topic of conversation was the need for digitalization. As Graham Wright, Microsave, emphasized in his keynote speech, it is essential for microfinance institutions to invest in digitalization or they will soon be outperformed by more innovative players in the market (“Digitize or die!”). Gera Voorrips, Senior Advisor Africa for Triple Jump Advisory Services, moderated the opening session on financial inclusion through technology. Finalists of the eMFP Annual Award – microfinance institutions ESAF from India, KMF from Kazachstan and Advans from Ivory Coast – showed how technology helped them to achieve more scale and impact.
The challenges of digital transformation were addressed in more depth in the panel discussion “Innovation Meets Legacy Systems” facilitated by FMO. Gera emphasized the fact that MFIs are struggling with the high cost of fintech acquisitions and change management required to absorb the digital ways of working. This is exactly where Triple Jump aims to make a difference through its Technical Assistance services. We facilitate a smooth transition by breaking up the digital transformation process in smaller steps; from support in selecting what to digitize to capacitating the implementation of fintech for efficient processes and delivery channels. In this way, we aim to have a long-term impact on clients and operational performance of our investees.