Agile Decision Making Framework to Support Mobile Microloans for Unbanked Customers

Financial institutions have revolutionized in the past decade and embraced the use of technology in improving and enhancing their services. Their hope in technology has urged them to continuously want to improve on their technologies and the use thereof as the environment they live in changes. Financial institutions have developed different products and service offering for the poor through mobile technologies and this has demonstrated how financial institutions have evolved and left their comfort zone in pursuit of the market they once thought of as being costly to serve. However, as much as financial institutions have embraced new technologies and adapted their processes to cater for this segment little has been done in providing microloans to the poor. Financial institutions still wants to employ the old methods that they have always applied and worked for them in the past for loans decision making. This study discusses the need for agility in decision making of mobile microloans and presents a framework to serve as one of the solutions for effective mobile microloans for the unbanked.