Holidays!

Holiday season is upon us, pace is winding down... We get these few weeks of the year to look back at everything we've been through. We have a chance to explore the how's, why's or where's of the things that made us up in 2012, and delve deep into reflexion to explore how we feel long after the fact.

This is something that with the years, and amounting of experiences I have come to appreciate. One thing is to write a diary, but the other is to look back at your year and reflect with the confidence of the final result.

No reason why you should save this exercise for tax season, do it now and catch up on your dreams, aspirations and friends!

To a powerful 2013!!

Notes from Credit Suisse's 10 year Microfinance initiatives

Yesterday, I was honored to attend the Credit Suisse 10 year anniversary event led by Paul Tregidgo, Vice Chairman of the Global Market Solutions Group and Debt Capital Markets.

The room was filled with social entrepreneurs, bankers and traders, all with the same interests, the developing industry of Microfinance and the impact leading organizations are having with the technical and financial support of Credit Suisse.

Following are some highlights from the speakers:

Mary Ellen Iskenderian
CEO of Women World Banking, WWB
2.8 bn people with no access at all to financial services
Serve 26 mn clients, 80 percent women
Making a very clear business case to financial institutions that continuing to offer financial products that are designed for women is a profitable business.
Women tend to be more loyal clients.
thinking about products that meet women's needs is a strong focus of WWB


FINCA CEO:
Local currencies. And provision of services beyond microcredit to micro financial services.
Microfinance is interesting in that everybody is motivated, and collaborating with their clients. FINCA is doing a lot of consolidation.
FINCA came from Central America. Started with 5mm and 60k clients. Today they have 585mn.
They incorporated a bank in Ecuador and six entities taking savings. From village banking (30-60 women).

Local currency is critical
Fluctuation in FX can severely damage the process
Focusing on finding local currency instruments in each country
Local currency note Structured By CS using blending diversification of currency

Need to build capacity is a big challenge. We have been able to me risk management and institutional development from its nonprofit roots.
Developing today the FINCA developing academy in order to train staff and management capacity.


Michael Schlein, CEO of Accion: main problems I see today in the industry are over indebtedness, high interest rates, excessive profits,

Here's what we should focus on:
Consumer protection
Transparency
Social performance

Three metrics for solution

SMART CAMPAIGN global consumer protection campaign
in 2 years has more than 300,000 endorsers. Rate institutions on how they protect clients!

Transparency. If everyone prices products differently you can't see the real cost. Bolivia is very competitive and regulated.

There should be a Uniform way of measuring social performance


Vicki Escarra, CEO
Opportunity International
Running operations and marketing at Delta Airlines gives her a good edge in this industry. Strongly believes in our purpose in this world we live in!
Own 14 banks, 800 mm in aum. Find a way to use donor dollars very well!
20,000 people in the field working de the organization. Doing it well with technology-- cell phone tech can change the world we live in.
Expanding and understanding client needs by measuring impact. The only way to change jobs and people's futures is by understanding their particular necessities.

Ewallet and backend tech (cell phones, ATM banks,outreach)

Mobile penetration. 649 mm people that have cell phones.