The Microdevelopment Finance Team (MFT) carried out pilot projects in Uganda to determine the role technology could play in increasing the reach of microfinance. The team envisioned a "data transaction backbone" that would link microfinance clients to their financial institutions and beyond. The resultant technology was known as the Remote Transaction System (RTS). The conclusions drawn from the study (and similar initiatives conducted in other parts of the world) include: that business process change and the implementation of new technology should proceed in tandem; that creative technology solutions are required to be tailored to the unique and often challenging needs in emerging markets and local contexts; and that partnerships between MFIs and local companies assist in reducing infrastructure costs. Technologies such as the RTS can evolve and provide functionality that serves to build bridges between MFIs and the formal financial sector.
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