BFC is introducing Credit Scoring as a methodology for MSE lending as a means of improving efficiency and thereby lowering operating costs
, enabling the First Microfinance Bank to expand outreach whilst maintaining acceptable levels of profitability and continuing to serve its target market.
BFC is helping FMFB to put in place a greatly improved credit scoring system by:
- Developing an APS independent of FMFB’s existing MIS;
- Developing and implementing fully proprietary scorecards;
- Providing related staff training and support;
- Providing recommendations for possible implementation of statistical credit scoring;
- Undertaking an interim review and provide recommendations for any modifications to the scorecards.