Product Innovation for MFIs Training Course

Introduction

The Product Innovation for MFIs Training Course is designed to equip microfinance practitioners with the tools and strategies needed to create and deliver innovative financial products that respond to the changing needs of clients. In today’s competitive environment, microfinance institutions must adapt by designing unique products that enhance client satisfaction, increase outreach, and strengthen financial sustainability. This course explores the entire product innovation cycle, from market research and product design to testing, scaling, and continuous improvement.

Through a blend of theory, case studies, and practical exercises, participants will learn how to develop client-centric solutions, integrate technology into product development, and apply innovation to drive social and financial impact. The program emphasizes sustainability, inclusivity, and strategic growth, enabling MFIs to remain competitive while empowering clients.

Duration: 10 Days

Target Audience:

  • Microfinance product managers and developers
  • Senior managers and executives in MFIs
  • Loan officers and branch managers
  • Risk management professionals
  • Financial inclusion specialists
  • Policy makers and regulators
  • NGOs and development finance institutions
  • Business consultants and advisors
  • Social performance managers
  • Researchers and academicians in microfinance

Course Objectives:

  1. Understand the importance of innovation in microfinance product development
  2. Conduct market research to identify client needs and trends
  3. Design client-centric microfinance products
  4. Apply tools and techniques for product prototyping and piloting
  5. Integrate digital technology into product innovation
  6. Assess risks associated with new products
  7. Build strategies for scaling innovative products
  8. Monitor and evaluate product performance and impact
  9. Promote inclusivity in product design for diverse client groups
  10. Develop institutional capacity to sustain innovation

Course Modules:

Module 1: Introduction to Product Innovation in MFIs

  • Defining product innovation
  • Importance of innovation in microfinance
  • Challenges in product innovation
  • Benefits for clients and institutions
  • Global trends in financial product development

Module 2: Market Research for Product Innovation

  • Tools for market research
  • Identifying unmet client needs
  • Competitive landscape analysis
  • Client segmentation techniques
  • Using data to guide innovation

Module 3: Product Design Principles

  • Elements of client-centric design
  • Designing for affordability and accessibility
  • Balancing risk and client needs
  • Tailoring products for different markets
  • Case studies in product design

Module 4: Prototyping and Piloting New Products

  • Steps in product prototyping
  • Testing product viability
  • Collecting client feedback
  • Adapting based on pilot results
  • Scaling from pilot to full rollout

Module 5: Digital Innovation in MFIs

  • Mobile banking products
  • Digital savings and credit solutions
  • Fintech partnerships
  • Data-driven product design
  • Digital client engagement

Module 6: Risk Management in Product Innovation

  • Identifying potential risks
  • Financial and operational risks
  • Mitigation strategies
  • Monitoring risk indicators
  • Portfolio diversification

Module 7: Financial Products for SMEs and Entrepreneurs

  • SME lending innovations
  • Business development loans
  • Cash flow-based lending
  • Supporting informal enterprises
  • Case examples of SME financing products

Module 8: Savings and Insurance Product Innovation

  • Innovative savings solutions
  • Microinsurance products
  • Bundled savings and credit products
  • Incentivizing savings behavior
  • Designing for long-term financial security

Module 9: Social Impact Products

  • Education and health loans
  • Green financing products
  • Housing finance innovations
  • Livelihood support loans
  • Socially responsible product development

Module 10: Inclusive Product Design

  • Gender-sensitive product innovation
  • Products for youth and marginalized groups
  • Accessibility for rural communities
  • Addressing financial literacy gaps
  • Inclusive growth strategies

Module 11: Technology and Data Analytics in Product Development

  • Role of big data in product design
  • Predictive analytics for client behavior
  • Artificial intelligence in MFIs
  • Data security in product innovation
  • Case studies of tech-enabled products

Module 12: Partnerships for Product Innovation

  • Collaborations with fintechs
  • Government and NGO partnerships
  • Private sector involvement
  • Building ecosystems for innovation
  • Multi-stakeholder product development

Module 13: Monitoring and Evaluation of Innovative Products

  • Performance measurement tools
  • Key product performance indicators
  • Impact assessment frameworks
  • Continuous product improvement
  • Client satisfaction evaluation

Module 14: Global Best Practices in Product Innovation

  • Case studies of successful innovations
  • Lessons from global MFIs
  • Comparative analysis of approaches
  • Adaptation of best practices
  • Innovative models for scaling

CERTIFICATION

  • Upon successful completion of this training, participants will be issued with Macskills Training and Development Institute Certificate

TRAINING VENUE

  • Training will be held at Macskills Training Centre. We also tailor make the training upon request at different locations across the world.

AIRPORT PICK UP AND ACCOMMODATION

  • Airport Pick Up is provided by the institute. Accommodation is arranged upon request

TERMS OF PAYMENT

Payment should be made to Macskills Development Institute bank account before the start of the training and receipts sent to info@macskillsdevelopment.com

For More Details call: +254-114-087-180

 

 

Product Innovation For Mfis Training Course in Belarus
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