The Venice Microfinance Initiative
Transcript of The Venice Microfinance Initiative
July 2016
The Venice Microfinance InitiativeInvenicement Ca’ Foscari Finance&Business Club, July 2016
July 2016Venice Microfinance Initiative 2
Invenicement Ca’ Foscari
Information, People and Activities
Venice Microfinance Initiative
Introduction, Mission and Values
VMI Core Operations
Timeline, Services and Research
Additional Information
Needs, Partners and Contacts
1 2
3 4
Content
July 2016Venice Microfinance Initiative 3
Invenicement Ca’ Foscari
Information, People and Activities
1
Invenicement Ca’ Foscari
Venice Microfinance Initiative
Introduction, Mission and Values
VMI Core Operations
Timeline, Services and Research
Additional Information
Needs, Partners and Contacts
2
3 4
1
July 2016
Invenicement Ca’ Foscari
Invenicement is a student-managed Finance&Business Club based at Ca’ FoscariUniversity of Venice.
Our mission is to incite and help students to create and develop knowledge,network and motivation on everything there is to learn about the worlds offinance and business. We pursue our objective by connecting our members withcompanies, academics and professionals through events, workshops and activities.
Venice Microfinance Initiative 4
The club was founded in 2013 by drivenCa’ Foscari students who wanted to sharetheir passion for Finance with theircolleagues. To do that, we promotedevents, made partners with institutions,societies and companies, encouragingmutual growth through collaboration withstudents.
What we are
1
July 2016
Invenicement Ca’ Foscari
Since our birth, we have grown.
• 10 Executives
• 450+ Members
• 1.9k+ Followers
Venice Microfinance Initiative 5
During this academic year, we went beyond meetings and conferences,bread and butter of our society. In fact, since September 2015, we havebeen keeping our followers updated on economic and financial newsthrough our Facebook page, we organised skill-oriented workshops andwe developed innovative and ambitious activities, together with the mostpassionate and committed Ca’ Foscari students.
Our People
1
July 2016
Invenicement Ca’ Foscari
Venice Microfinance Initiative 6
Activities 2015-2016Workshop: Excel for Finance I
• 4 lessons, 30 selected students;
• Held by Dr. Domenico Dall’Olio;
• Topic included VBA, Valuation,Computational Finance.
Workshop: Excel for Finance II
• 6 lessons, 45 selected students;
• Held by Dr. Domenico Dall’Olio;
• Stronger focus on basic skills, practice and applications.
Conference: Public Debt• 2 hours, 150 participants;
• Speakers: Prof. P. Biffis, Dr. M. D’Onofrio, Dr. S. Torielli;
• Treated a major issueconcerning Italy and the EU.
Conference: Banking Union• 2 hours, 130 participants;
• Speakers: Prof. A. Urbani, Dr. A. Guarda, Dr. A. Cremonino;
• Treated characteristics and outcomes of the SSM.
Meeting: GMAT|LBS• 1,5 hours, 100 participants;
• Speakers: S. Strafino, A. Karakashian;
• Treated GMAT, business schoolsand admission requirements.
Venice Economic Forum 2016• 4 hours, 100 participants;
• Various speakers;
• Focused on the advantages and disadvantages of innovation on Entrepreneurship and Finance.
1
July 2016Venice Microfinance Initiative 7
VMI Core Operations
Timeline, Services and Research
Additional Information
Needs, Partners and Contacts
3 4
Venice Microfinance Initiative
Invenicement Ca’ Foscari
Information, People and Activities
Venice Microfinance Initiative
Introduction, Mission and Values
1 2
2
July 2016
Venice Microfinance Initiative
Venice Microfinance Initiative 8
When executives asked members what they would like more during their experience with the club, our fellow students expressed the will to be involved in something of real impact.
The good thing was that we already had that in mind.
Executives
Members
?What
ShouldWe
Do?
Our fresh and innovative project was inspired bysuccessful activities carried out by the MelbourneMicrofinance Initiative, a student society based at TheUniversity of Melbourne, Australia, which core activityconsists in delivering pro-bono consulting to MFIs inSouth East Asia and in the Pacific Region.
Their success, efforts and collaboration were essential tothe development of the Venice Microfinance Initiative.
Inspiration and birth
2
July 2016
Venice Microfinance Initiative
Venice Microfinance Initiative 9
VMI’s Values
Bolstering up communities
providing financial and professional supportto low income, non-bankable individuals, aswell as to struggling enterprises, thus liftingthem out of poverty and social exclusion.The action is intended to help communitiesgrow by encouraging entrepreneurship,increasing financial inclusion and empoweringwomen.
Learning Differently
VMI gives ambitious studentsthe opportunity to get sociallyinvolved and benefit from aunique professional experience.Delegates participating in theVenice Microfinance Initiativewill have the chance to deepentheir knowledge aboutmicrofinance and the way MFIscontribute to foster economicgrowth.Students benefit from receivingpreliminary training frompartners and seniors, as long asmentoring along their way. Then,they have the chance to learn onthe job and get actively involvedinto real world issues.
Building Bridges
VMI has been thought to be a link betweenstudents, partners and MFIs operating bothlocally and internationally.Knowledge transfer being at the heart of thisinitiative, we hope to establish long-lastingconnections that will provide microfinancepractitioners the possibility to access a pool oftalents and to inspire young people throughtheir constant effort to support social andeconomic development and increase equalityby encouraging financial inclusion.
VMI’s ambitionis to create apositive impactwithin the localcommunity, by
2
July 2016
Venice Microfinance Initiative
Venice Microfinance Initiative 10
What we do
The introductory video conference aims to give the students and the MFI operatives the first chance to meet and to set the basis for the collaboration project. During this
meeting, both parties will evaluateand discuss the issues previously
brought up by our team, and consider possible solutions.
The mid-term field journey consists in a 20 days field trip carried out by our consultants to where the MFI is
based. During this visit, VMI will have the chance to meet the institution’soperatives in person, to be involvedwith clients, to submit surveys and
questions and to give direct performance assessments.
VMI’s final video meeting is neededfor our students to evaluate the
implementation of the project, give the final recommendations and
analyse future benefits. During the meeting, VMI will also assess the
impact and success of the initiative, question the improvement of the
project and ask for feedback.
• Give our delegation of VMI consultants the best tools to operate, so that their work can be the post effective.
• Ensure that our project is of real impact, targeting the most suitable MFIs in the proper countries.AIMS
• Five months of collaboration with the MFI, during which four consultants implement the proposed services.
• Initial agreement, plus Skype meetings held at least once every fortnight, and in addition:ACTION
2
July 2016Venice Microfinance Initiative 11
Additional Information
Needs, Partners and Contacts
4
Invenicement Ca’ Foscari
Information, People and Activities
1 Venice Microfinance Initiative
Introduction, Mission and Values
VMI Core Operations
Timeline, Services and Research
2
3
3 VMI Core Operations
July 2016Venice Microfinance Initiative 12
Month 1 Month 2 Month 3 Month 4 Month 5
(Macro/Social/Geographic) Risk Analysis Sample Studying Credit Risk Assessment
Risk and Sustainability Management
| Mid-term field trip |
CPAT Checklist WWW Exploitation + Checklist Actions
Comprehensive Digitalisation Process
Workshop and Engagement Planning Carryout Social Impact Report
Remote Opportunity Desk
Weekly Newsletters + Entrance in the Institutional Network
Social Engagement Activities
VMI Core OperationsTimeline
3
July 2016Venice Microfinance Initiative 13
VMI Core OperationsService 1: Risk and Sustainability Management
3
Proper strategic and credit risk management are vital to any MFI. A
suitable loan policies and an informed risk calculation can turn a
microfinance institution from good to excellent, and ensure growth and
possibility of expansion.
Risk Analysis
Macro
We provide a deep analysis related to the competitive
environment in which MFI operates, understanding
strengths, but more important understanding weakness.
Social
The analysis will comprehends the nature of MFI’s
clients and how they can better interact each other,
aiming to a more financial inclusion.
Geographic
We are also willing to make researches the actual and
prospective areas, in order to amplify MFIs’ business.
CRM (Credit Risk Management)
A quantitative and qualitative study about the core
business of the MFI: credit lending. Thanks to a
benchmarking analysis, the utilise of historical
data on credit activity, we aim to provide a tool
that will gives more secure, trustable and
sustainable lending service for the MFI.
Sample Studying
Data are fundamental and during visits, the VMI
Team will be in charged to analyse and collect
these inputs that will be the fundamental tool
by which the CRM system will be implemented
and will give useful information on which MFI
will make operative decisions.
July 2016Venice Microfinance Initiative 14
VMI Core OperationsService 2: Comprehensive Digitalisation Process
WWW
Exploitation
Social Media Management
Highest ROI and minimum costs through the use of
selected networks according to the MFI’s characteristics
Computer Tools Guidance
Best consciousness of one’s own MFI through
data comparison making use of expert-level
training on platforms created ad-hoc for MFIs.
Research Methods Teaching
Time reduction and increased efficiency through
education to the best research practices.
Clients
Projection
Awareness
Transparency
(CPAT) Checklist
A growing institution often lacks of adequate publicity, for
free or low cost, and ignores which are the Best practices to
get closer to clients and to the large number of national and
international organisations that support MFIs.
We aim to understand and solve possible communicative
gaps as soon as possible through a pre-programmed
checklist, so that the MFI can enter in contact with networks
and clients in the best way possible and acquire notoriety.
DO
MY CLIENTSI
KNOW ABOUT
The EMN exposure
EaSI
The MFC Network
My Loan Structure
My past success
My laboratories
3
July 2016Venice Microfinance Initiative 15
VMI Core OperationsService 3: Remote Opportunity Desk
Opportunities for MFIs
There is a wide range of different projects by international associations and
organisations which support MFIs. They include funding, vertical seminars,
knowledge-sharing conferences and other activities.
Opportunities for Clients
People in difficulty, micro/small enterprises and start-ups can all benefit from microfinance
opportunities, as well as from those offered by other realities (EIB, EaSI, etc.), in the form
of fundings, laboratories and prize-contests.
VMI Institutional Network
The partnerships we have established enable us to put you in contact with people and
institutions who hold your growth dear, as well as with other MFIs geographically both
near and distant from you.
With our remote assistance service we communicate, in the first place and weekly, all the opportunities that
you and your clients can benefit from. This service can be divided in three main contents.
What distinguishes this service is that it is all offered constantly, and since the first moment we talk.
3
July 2016Venice Microfinance Initiative 16
VMI Core OperationsService 4: Social Engagement Activities
Workshops: We support MFIs in the arrangement of training
activities addressed to their clients: creation of a business
plan, family budget, savings plan, individual coaching.
Community Involvement: We organise events on
thematics such as financial education, ethic finance
and entrepreneurial business at University or in the
MFI headquarter.
Microfinance can have a very
strong impact on the lives of
individuals most in need.
It is a very powerful tool to
reduce poverty and increase
financial inclusion. However,
small loans and access to
financial services alone, are not
sufficient to accomplish these
goals. This is why VMI has
developed a series of
complementary services.
Impact Assessment: We study the impact that MFIs, together with
our contribution, are able to have on their clients and within the
economic context they are immersed in, to avoid neglecting the
altruistic purposes which initially led to their foundation.
3
July 2016Venice Microfinance Initiative 18
Invenicement Ca’ Foscari
Information, People and Activities
1 Venice Microfinance Initiative
Introduction, Mission and Values
2
Additional Information
VMI Core Operations
Timeline, Services and Research
Additional Information
Needs, Partners and Contacts
3 4
4
July 2016Venice Microfinance Initiative 19
4
Our initiative is essentially not-for-profit and aims to help MFIs and
disadvantaged clients.In order to ensure the best
outcome, it is essential that our consultants meet the MFI
operatives and spends some days in the field. We seek for a sponsor that can help us with funding VMI
consultants’ travel and staying expenses of the mid-term field journey outside the European Union. In return, we offer the
maximum visibility in the project.
Our consultants are selected amongst the best students of the
university and are passionate about social impact. Invenicement will provide them the best tools to operate in a comfortable yet
effective way. Moreover, we will make sure that they can have all
the information they need to work at their best. Nonetheless, we
believe that better insights regarding how to operate and
which area to affect can come frommore experienced organisations.
Through our research, we are mapping the most attractive
markets, the largest organisationsand the main MFIs. By doing that, we realised that the institutions that could be seeking for more assistance might not be in plain sight. We are confident that a
national or international organisation working with
microfinance has more knowledge of the “market needs” that we are looking to fulfil with our services, and can guide us to more access.
Additional InformationWhat we are looking for
July 2016Venice Microfinance Initiative 20
4 Additional InformationVMI’s partners
Microfinance Centre
Based in Warsaw, the MFC is a regional microfinance resource centre and network, whose contribution relates to poverty reduction and human potentialdevelopment, within the promotion of a socially oriented microfinance sector.
Its main programs include: Social Performance Management, Financial Education, Research and Energy Efficiency.
European Investment Bank
Established in 1958, the EIB is the European Union's bank. Its mission is to support and increase those investments relevant to strengthen
European policy achievements. Its commitment to microfinance projects in both EU e non EU area is remarkable, enhancing , for example,
feminine entrepreneurship, young people micro and small economic activities.
Microfinanza Rating
Founded in 2000, it is a private and independent internationalrating agency specialized in microfinance. MFR also performs
country screenings, governance evaluation, loan portfolio audit, equity evaluation, and offers training to a diverse range of
microfinance practitioners.
European Microfinance Network
Launched in 2003, EMN gathers together Practitioners, Partners and Corporate Members involved in European Microfinance issues. EMN is
focused on building stronger relations with EU institutions and addressing policy makers, regulators and funders of the sector, so as to
lobby for favorable policies, and further develop the sector. They are focused on capacity building, by encouraging sustainability, good
governance, quality, research and transparency of MFIs to increase the impact of microfinance in Europe.
July 2016Venice Microfinance Initiative 21
Melbourne Microfinance Initiative
Founded in 2010, MMI is the first and largest microfinance student organization established at an Australian university.
The Melbourne Microfinance Initiative (MMI) is a student-run organization at the University of Melbourne, Australia. MMI
provides pro-bono consulting services to Microfinance Institutions (MFIs) globally with a vision of having a direct
impact on communities in need, and hosts an array of events designed to engage and empower students to make a
difference.
4 Additional InformationVMI’s partners
Università Ca’ Foscari
Founded in 1868, Ca’ Foscari is the first Business School in Italy, second at European level. More than 30 languages are
thought here. Ca’ Foscari reflects Venice city’s nature, crossroads of history, people, culture and commerce.
Ca’ Foscari Alumni
The Association was founded to gather together Ca’ FoscariAtheneum ex-students. Its aim is to create an extended network of
people with their competences which, in the long run, will help professionals to make treasure of those knowledge and values
acquired during University years, reinforcing their experience, and bringing them to excellence.
July 2016Venice Microfinance Initiative 22
4 Additional InformationContacts
AddressInvenicement Ca’ FoscariFinance&Business ClubCannaregio 873Venice 30121 (VE), Italywww.invenicement.com
AcknowledgementThe following people are acknowledged responsible for the production of this document:Mirko Cauci, Sarah Di Gloria, Enrico Piga, Sonia Pusun, Matteo Spiller, Matteo Tirapelle.For any inquiries, please make use of the contacts mentioned above.
[email protected]@gmail.comFacebookLinkedInTwitter