reporting blues mix presentation - mf india summit 2013
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The Premier Source for Microfinance Data and Analysis
This presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited.
Microfinance Information Exchange
Reporting Blues: Building an Efficient Data Ecosystem
This presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited.
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MIX, a growing objective data exchange
• 36 employees• Headquarters in Washington, DC• Offices in Azerbaijan, Senegal, India, Peru• MIX celebrating its 10th anniversary
in 2012• Quarterly data collection in 51 countries• Annual data collection in 100 countries
Investors
Networks
Regulators
MFIs
Raters
2100+ MFIs 300+ Service Providers
150+ Networks
200+ Investors
This presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited.
MIX’s mission and strategic priorities
MIX promotes responsible financial services for underserved populations through data analytics
and market insight
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1. Provide a more comprehensive view of financial inclusion
2. Improve the transparency of governance and social performance
3. Enhance the infrastructure for information and easier reporting
4. Support improved decision-making among industry actors
Four priority areas:
This presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited.
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Agenda
Dissecting MFIs’
reporting burden
Presenting
an innovative
solution
Working together to reduce
the burden
This presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited.
The Data Supply Chain
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The sector’s current
system is not only
redundant, it’s the primary
reason for growing reporting
burden, poor data quality,
poor transparency and a lack of
impact measurement for funders
This presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited.
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Quantifying the reporting burden for MFIs
in unique ways!: Disparate calculations and indicators total 800 data point requests.
CalculationsLabelsDefinitions
5 =
% $Urban = ?Rural = ?
BorrowingsLoans Funding Liabilities DebtLoan FundsBorrowed Funds
Multiple collectors: The average MFI reports to 7 data collectors 50 times/year!
Asking for multiple reports: Interim updates and new social performance reports contribute to the ballooning requirements.
This presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited.
This presentation is the proprietary and/ or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited.
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675
150
75
0100200300400500600700800
Total requests Required dataOverlap Unique n:20 funders
Focus on what is truly important
Interim reporting requirements across 20 large MF funders
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Proliferation of Standards but Multiple Data Requirements Persist
2011 MIX ‘reporting genome’ project to understand:• What information is asked of MFIs? • To what extent do those requests overlap?
Source: Stephens, Blaine. Information Overload: can technology address MFIs' reporting burden?
This presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited.
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What does the reporting burden mean MFIs?
Staff time could be spent on other productive activities
Disincentive for small or start up institution to seek external capital for their growth
MFIs
Funders, Networks, MIX Market, Regulators
Data delays
Data quality issues
This presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited.
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Agenda
Dissecting MFIs’
reporting burden
Presenting an
innovative solution
Working together to reduce
the burden
This presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited.
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Supporting borrowers by supporting investors
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MFIs
Investor & MFI relationship
MFI & Borrower
relationship
BorrowersInvestors
and Donors
20
80
This presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited.
A Proposed Approach for an Innovative Solution
1. Inconsistent and unreliable MFI data
2. Multiplicity of reporting requirements
3. Potential for error and missing data
1. Standards Building with data requestors (funders, networks)
2. Technology: Ease of reporting via an online reporting interface for data providers (MFIs)
3. Improved data quality basing on MIX’s 10 year experience of collecting and validating MFI data
What are we solving for and how:
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This presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited.
MIX’s New Reporting System
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MIX Gold
MIX Basic
MIX will manage data collection centrally for the sector through MIX
Report Express, driven by stakeholder requirements. These subscribers will
influence harmonized reporting requirements and help sustain public and private data flows for the sector.
MIX Silver
PrivatePublic
This presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited.
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Data collection through MIX Report Express
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MIX Report Express is a flexible and
dynamic reporting interface allowing MFIs to
easily report basic data
to MIX Market and private data to funders with a Gold
license
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Dynamic reporting form creation to
reduce redundancy
Ability to work
online / offline
Customizable data fields based on
stakeholder requirements
Rigorous data
validation
In-line data dictionary
This presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited.
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Performance monitoring (audit tracking)
Data audit flags and description
Time stamp of data submission, audit record, error tracking and covenant compliance
Monitor reporting timeliness
Track data quality
This presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited.
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Agenda
Dissecting MFIs’
reporting burden
Presenting
an innovative
solution
Working together to reduce
the burden
This presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited.
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Working together
Explicit Harmonization: Direct investors collaborating with MIX platform to reduce reporting burden
Annual Roundtable
This presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited.
Ensuring data quality
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Data quality was cited as the #1 concern for funders in December 2013 at the inaugural Gold Community Meeting
1 2
3 4
MIX’s quality review is based on experience with more than 15,000 data submissions
Report Express will automate many functions to reduce human errors with inbuilt advanced algorithms
Data is reviewed against internal and third party documents
Harmonization will improve data quality though clear standards
Data quality will improve in 4 ways
This presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited.
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How is MIX Working with the Industry to reduce the reporting burden?
MFIs• Testing of
MIX Report Express
Networks• Assessment
of network reporting needs
Funders• Standards
harmonization
April ‘13 May ‘13 Sep ‘13 Oct-Dec ‘13 Early ‘14Alpha test
of MIX Report Express
Beta test of MIX Report Express
First round of
standards for
adoption
On-boarding to MIX Report
Express
Launch!
This presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited.
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Conclusion
• You can have data without information, but you cannot have information without data
• Connect Data providers with data requestors
• Technology, the way forward?
• Need for Partnerships or collaboration to build an efficient data ecosystem
This presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited.
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MIX partners with a dedicated group of industry leaders:
MIX Global and Project Partners
This presentation is the proprietary and/or confidential information of MIX, and all rights are reserved by MIX. Any dissemination, distribution or copying of this presentation without MIX’s prior written permission is strictly prohibited.
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Visit us on the Web:
www.themix.org www.mixmarket.org
Contact us: info@themix.org
Interested in learning more about MIX? Sign up to receive our free e-mail
newsletters!
Find us on Facebook Follow us on Twitter: @mix_market
Regional Offices:
Baku, Azerbaijan 44 J. Jabbarli st. Caspian Plaza I, 5th Floor,
Baku, Azerbaijan
Lima, Peru Jirón León Velarde 333 Lince, Lima 14, Perú
Rabat, Morocco Immeuble CDG Place Moulay Hassan
BP 408 Rabat Morocco
Hyderabad, IndiaRoad #12, Landmark Building, 5th Floor,Banjara Hills, Hyderabad 500034, India
Microfinance Information Exchange
Headquarters:
1901 Pennsylvania Ave., NW, Suite 307
Washington, D.C. 20006 USA
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