Jennifer Isern - Academia.edu (original) (raw)
Papers by Jennifer Isern
This paper is the result of a cooperative effort by the Financial Market Integrity
Overall, MFIs in Africa are dynamic and growing. Of the 163 MFIs that provided information for th... more Overall, MFIs in Africa are dynamic and growing. Of the 163 MFIs that provided information for this study, 57 percent were created in the past eight years—and 45 percent of those in the past four. African MFIs appear to serve the broad financial needs of their clients. Unlike trends in most regions around the globe, more than 70 percent of the reporting African MFIs offer savings as a core financial service for clients and use it as an important source of funds for lending.
... and the private sector all need to understand the complex dynamics that affect the financial ... more ... and the private sector all need to understand the complex dynamics that affect the financial ... both core elements of market structure, are key drivers affecting financial sector ... of credit registries, national financial and telecommunications infrastructure, and client factors such as ...
The journal of applied management and entrepreneurship, 2006
Executive Summary Conducting ethical international business is particularly challenging given div... more Executive Summary Conducting ethical international business is particularly challenging given diverse countries and societies with different moral foundations and beliefs. Child labor is, understandably, an emotional issue. Many international businesses, including those involved in cocoa production and the chocolate industry, confront issues of child labor in their own operations and those of suppliers in their value chain. Culture, laws and regulations, and international and industry protocols provide some areas of common approach, although differences in practice across countries and cultures must be respected when addressing child labor. Ethical perspectives and theories such as value driven management will help businesses make better decisions about child labor. Introduction Business Ethics Business ethics considers the morality of business activities. Morality is a broad term that encompasses what a society or group believes is "good or bad, right and wrong, just or unjust...
This Country-Level Effectiveness and Accountability Review (CLEAR) examines the efficacy of micro... more This Country-Level Effectiveness and Accountability Review (CLEAR) examines the efficacy of microfinance aid in Madagascar, based on an objective analysis of donor assistance for the sustainable development of financial systems targeting the poor. The three levels of the financial system are the micro level (e.g., retail institutions), the meso level (e.g., apex, technical service providers), and the macro level (e.g., regulations and policies). At the micro level, there is a large number of stakeholders, and an increasing interest of banks and private investors, including a predominant stake by the Decentralized Financial Systems (DFS), as well as major roles by the local Savings Institution and the Post Office. At the meso level, there is a supply of services such as auditing. Finally, at the macro level, coordination and supervision exist, and a specific legal framework on microfinance is in place. Notwithstanding, microfinance in Madagascar remains weak, and, concerns suggest DF...
Although the money transfers market offers tantalizing opportunities for financial service provid... more Although the money transfers market offers tantalizing opportunities for financial service providers, the risks can be high. This technical guide helps delineate when offering transfers is of interest to financial service providers. It helps them determine what strategy, products, and institutional structure are needed to support a successful money transfer operation. This guide is primarily written for use by financial service providers such as Microfinance Institutions (MFIs) and other institutions that serve low-income clients. MFIs are defined as financial cooperatives, nongovernmental organizations (NGOs), specialized financial institutions, non bank financial institutions, savings and postal banks, and others. The guide seeks to help with the launch of new money transfer services or improve existing ones.
The note describes the rationale, and objectives of the pilot micro-finance capacity-building ini... more The note describes the rationale, and objectives of the pilot micro-finance capacity-building initiative in Africa, to reinforce financial management, link African services providers to the Consultative Group to Assist the Poorest (CGAP), and expand CGAP knowledge base, to build a market for capacity-building services in Africa. Courses were developed to include delinquency measurement and control; micro-finance accounting; financial statements and analysis; business planning; and, training for trainers. Lessons specify that the initial focus on content and trainer quality, vastly underestimated the crucial importance of marketing and logistics for successful training, suggesting that the development of the supply-side of the capacity-building market - local trainers and technical service providers - has been the most challenging issue. Nonetheless, the interest, and tangible efforts by donors, and potential trainers to replicate the program in other markets is one of the most signi...
The note describes the rationale, and objectives of the pilot micro-finance capacity-building ini... more The note describes the rationale, and objectives of the pilot micro-finance capacity-building initiative in Africa, to reinforce financial management, link African services providers to the Consultative Group to Assist the Poorest (CGAP), and expand CGAP knowledge base, to build a market for capacity-building services in Africa. Courses were developed to include delinquency measurement and control; micro-finance accounting; financial statements and analysis; business planning; and, training for trainers. Lessons specify that the initial focus on content and trainer quality, vastly underestimated the crucial importance of marketing and logistics for successful training, suggesting that the development of the supply-side of the capacity-building market - local trainers and technical service providers - has been the most challenging issue. Nonetheless, the interest, and tangible efforts by donors, and potential trainers to replicate the program in other markets is one of the most signi...
ERN: Institutional Change & Economic Growth (Topic), 2007
This study addresses the supply of financial services, especially money transfers, in the People’... more This study addresses the supply of financial services, especially money transfers, in the People’s Republic of China. With an estimated 95 million domestic labor migrants, the potential market for remittances is estimated between USD 23 billion and 40 billion in 2005 and growing. Labor migration in China has been characterized by a large outflow of agricultural laborers from rural inland areas moving to coastal provinces to work in manufacturing and service sectors, mostly on a temporary basis. Migrant workers tend to remit funds to their families, and a growing number also receive wages on prepaid or debit cards. The money transfers market is dominated by China Post, and other financial service providers currently have modest market share. Branch placement and retail strategy of financial service providers plus their responses to structural constraints such as the
Although the money transfers market offers tantalizing opportunities for financial service provid... more Although the money transfers market offers tantalizing opportunities for financial service providers, the risks can be high. This technical guide helps delineate when offering transfers is of interest to financial service providers. It helps them determine what strategy, products, and institutional structure are needed to support a successful money transfer operation. This guide is primarily written for use by financial service providers such as Microfinance Institutions (MFIs) and other institutions that serve low-income clients. MFIs are defined as financial cooperatives, nongovernmental organizations (NGOs), specialized financial institutions, non bank financial institutions, savings and postal banks, and others. The guide seeks to help with the launch of new money transfer services or improve existing ones.
This Focus Note presents key findings of a 2008 report on implementing Financial Action task Forc... more This Focus Note presents key findings of a 2008 report on implementing Financial Action task Force (FATF) standards in developing countries The Financial Sector Reform and Strengthening(FIRST) Initiative funded a five-country study to analyze the effects of anti-money laundering (AML) and combating the financing of terrorism (CFT) regulation on access to finance, especially in low-income populations. Standard AML and CFT measures promote financial integrity and support crime fighting, but they can also exclude low-income people from financial services through onerous regulations. The study identifies factors that may intensify this impact, provides approaches on the design of appropriate AML/CFT controls that complement financial access policies, and suggests key design principles for AML/CFT controls.
The Madagascar Country-Level Effectiveness and Accountability Review (CLEAR) was conducted in Ant... more The Madagascar Country-Level Effectiveness and Accountability Review (CLEAR) was conducted in Antananarivo from April 26 to May 17, 2005. The CLEAR analyzes donor effectiveness in microfinance and helps donors better adapt their support for developing financial systems (savings, loans, insurance, transfers, etc.) that benefit the poor. CLEARs are part of the Consultative Group to Assist the Poor (CGAP) Aid Effectiveness Initiative, which was launched in 2002 with a series of 17 Microfinance Donor Peer Reviews. CLEARs help funders adapt their internal systems to design, implement, and monitor better programs. They also help funders identify key gaps in the financial system that inhibit the provision of permanent financial services to poor people.
The note describes the rationale, and objectives of the pilot micro-finance capacity-building ini... more The note describes the rationale, and objectives of the pilot micro-finance capacity-building initiative in Africa, to reinforce financial management, link African services providers to the Consultative Group to Assist the Poorest (CGAP), and expand CGAP knowledge base, to build a market for capacity-building services in Africa. Courses were developed to include delinquency measurement and control; micro-finance accounting; financial statements and analysis; business planning; and, training for trainers. Lessons specify that the initial focus on content and trainer quality, vastly underestimated the crucial importance of marketing and logistics for successful training, suggesting that the development of the supply-side of the capacity-building market - local trainers and technical service providers - has been the most challenging issue. Nonetheless, the interest, and tangible efforts by donors, and potential trainers to replicate the program in other markets is one of the most signi...
Although the money transfers market offers tantalizing opportunities for financial service provid... more Although the money transfers market offers tantalizing opportunities for financial service providers, the risks can be high. This technical guide helps delineate when offering transfers is of interest to financial service providers. It helps them determine what strategy, products, and institutional structure are needed to support a successful money transfer operation. This guide is primarily written for use by financial service providers such as Microfinance Institutions (MFIs) and other institutions that serve low-income clients. MFIs are defined as financial cooperatives, nongovernmental organizations (NGOs), specialized financial institutions, non bank financial institutions, savings and postal banks, and others. The guide seeks to help with the launch of new money transfer services or improve existing ones.
Although much has been written about the benefits that money transfers could bring to pro-poor fi... more Although much has been written about the benefits that money transfers could bring to pro-poor financial service providers and their clients, relatively little information is available on how they might enter the money transfer market. This paper explores the operational and strategic considerations involved in launching a money transfer product. The first section begins with an overview of global money transfers, including the overall size and structure of the industry and the differences between its different segments- cross-border and domestic, formal and informal, retail and wholesale. The second section describes the main types of transmission channels used to transfer funds, the types of providers traditionally associated with these channels, partnerships between these providers, and new customer interfaces being used to make money transfers cheaper and more convenient for clients. Finally, the third section explores how a pro-poor financial service provider might begin to bui...
Although much has been written about the benefits that money transfers could bring to pro-poor fi... more Although much has been written about the benefits that money transfers could bring to pro-poor financial service providers and their clients, relatively little information is available on how they might enter the money transfer market. This paper explores the operational and strategic considerations involved in launching a money transfer product. The first section begins with an overview of global money transfers, including the overall size and structure of the industry and the differences between its different segments- cross-border and domestic, formal and informal, retail and wholesale. The second section describes the main types of transmission channels used to transfer funds, the types of providers traditionally associated with these channels, partnerships between these providers, and new customer interfaces being used to make money transfers cheaper and more convenient for clients. Finally, the third section explores how a pro-poor financial service provider might begin to bui...
This paper is the result of a cooperative effort by the Financial Market Integrity
Overall, MFIs in Africa are dynamic and growing. Of the 163 MFIs that provided information for th... more Overall, MFIs in Africa are dynamic and growing. Of the 163 MFIs that provided information for this study, 57 percent were created in the past eight years—and 45 percent of those in the past four. African MFIs appear to serve the broad financial needs of their clients. Unlike trends in most regions around the globe, more than 70 percent of the reporting African MFIs offer savings as a core financial service for clients and use it as an important source of funds for lending.
... and the private sector all need to understand the complex dynamics that affect the financial ... more ... and the private sector all need to understand the complex dynamics that affect the financial ... both core elements of market structure, are key drivers affecting financial sector ... of credit registries, national financial and telecommunications infrastructure, and client factors such as ...
The journal of applied management and entrepreneurship, 2006
Executive Summary Conducting ethical international business is particularly challenging given div... more Executive Summary Conducting ethical international business is particularly challenging given diverse countries and societies with different moral foundations and beliefs. Child labor is, understandably, an emotional issue. Many international businesses, including those involved in cocoa production and the chocolate industry, confront issues of child labor in their own operations and those of suppliers in their value chain. Culture, laws and regulations, and international and industry protocols provide some areas of common approach, although differences in practice across countries and cultures must be respected when addressing child labor. Ethical perspectives and theories such as value driven management will help businesses make better decisions about child labor. Introduction Business Ethics Business ethics considers the morality of business activities. Morality is a broad term that encompasses what a society or group believes is "good or bad, right and wrong, just or unjust...
This Country-Level Effectiveness and Accountability Review (CLEAR) examines the efficacy of micro... more This Country-Level Effectiveness and Accountability Review (CLEAR) examines the efficacy of microfinance aid in Madagascar, based on an objective analysis of donor assistance for the sustainable development of financial systems targeting the poor. The three levels of the financial system are the micro level (e.g., retail institutions), the meso level (e.g., apex, technical service providers), and the macro level (e.g., regulations and policies). At the micro level, there is a large number of stakeholders, and an increasing interest of banks and private investors, including a predominant stake by the Decentralized Financial Systems (DFS), as well as major roles by the local Savings Institution and the Post Office. At the meso level, there is a supply of services such as auditing. Finally, at the macro level, coordination and supervision exist, and a specific legal framework on microfinance is in place. Notwithstanding, microfinance in Madagascar remains weak, and, concerns suggest DF...
Although the money transfers market offers tantalizing opportunities for financial service provid... more Although the money transfers market offers tantalizing opportunities for financial service providers, the risks can be high. This technical guide helps delineate when offering transfers is of interest to financial service providers. It helps them determine what strategy, products, and institutional structure are needed to support a successful money transfer operation. This guide is primarily written for use by financial service providers such as Microfinance Institutions (MFIs) and other institutions that serve low-income clients. MFIs are defined as financial cooperatives, nongovernmental organizations (NGOs), specialized financial institutions, non bank financial institutions, savings and postal banks, and others. The guide seeks to help with the launch of new money transfer services or improve existing ones.
The note describes the rationale, and objectives of the pilot micro-finance capacity-building ini... more The note describes the rationale, and objectives of the pilot micro-finance capacity-building initiative in Africa, to reinforce financial management, link African services providers to the Consultative Group to Assist the Poorest (CGAP), and expand CGAP knowledge base, to build a market for capacity-building services in Africa. Courses were developed to include delinquency measurement and control; micro-finance accounting; financial statements and analysis; business planning; and, training for trainers. Lessons specify that the initial focus on content and trainer quality, vastly underestimated the crucial importance of marketing and logistics for successful training, suggesting that the development of the supply-side of the capacity-building market - local trainers and technical service providers - has been the most challenging issue. Nonetheless, the interest, and tangible efforts by donors, and potential trainers to replicate the program in other markets is one of the most signi...
The note describes the rationale, and objectives of the pilot micro-finance capacity-building ini... more The note describes the rationale, and objectives of the pilot micro-finance capacity-building initiative in Africa, to reinforce financial management, link African services providers to the Consultative Group to Assist the Poorest (CGAP), and expand CGAP knowledge base, to build a market for capacity-building services in Africa. Courses were developed to include delinquency measurement and control; micro-finance accounting; financial statements and analysis; business planning; and, training for trainers. Lessons specify that the initial focus on content and trainer quality, vastly underestimated the crucial importance of marketing and logistics for successful training, suggesting that the development of the supply-side of the capacity-building market - local trainers and technical service providers - has been the most challenging issue. Nonetheless, the interest, and tangible efforts by donors, and potential trainers to replicate the program in other markets is one of the most signi...
ERN: Institutional Change & Economic Growth (Topic), 2007
This study addresses the supply of financial services, especially money transfers, in the People’... more This study addresses the supply of financial services, especially money transfers, in the People’s Republic of China. With an estimated 95 million domestic labor migrants, the potential market for remittances is estimated between USD 23 billion and 40 billion in 2005 and growing. Labor migration in China has been characterized by a large outflow of agricultural laborers from rural inland areas moving to coastal provinces to work in manufacturing and service sectors, mostly on a temporary basis. Migrant workers tend to remit funds to their families, and a growing number also receive wages on prepaid or debit cards. The money transfers market is dominated by China Post, and other financial service providers currently have modest market share. Branch placement and retail strategy of financial service providers plus their responses to structural constraints such as the
Although the money transfers market offers tantalizing opportunities for financial service provid... more Although the money transfers market offers tantalizing opportunities for financial service providers, the risks can be high. This technical guide helps delineate when offering transfers is of interest to financial service providers. It helps them determine what strategy, products, and institutional structure are needed to support a successful money transfer operation. This guide is primarily written for use by financial service providers such as Microfinance Institutions (MFIs) and other institutions that serve low-income clients. MFIs are defined as financial cooperatives, nongovernmental organizations (NGOs), specialized financial institutions, non bank financial institutions, savings and postal banks, and others. The guide seeks to help with the launch of new money transfer services or improve existing ones.
This Focus Note presents key findings of a 2008 report on implementing Financial Action task Forc... more This Focus Note presents key findings of a 2008 report on implementing Financial Action task Force (FATF) standards in developing countries The Financial Sector Reform and Strengthening(FIRST) Initiative funded a five-country study to analyze the effects of anti-money laundering (AML) and combating the financing of terrorism (CFT) regulation on access to finance, especially in low-income populations. Standard AML and CFT measures promote financial integrity and support crime fighting, but they can also exclude low-income people from financial services through onerous regulations. The study identifies factors that may intensify this impact, provides approaches on the design of appropriate AML/CFT controls that complement financial access policies, and suggests key design principles for AML/CFT controls.
The Madagascar Country-Level Effectiveness and Accountability Review (CLEAR) was conducted in Ant... more The Madagascar Country-Level Effectiveness and Accountability Review (CLEAR) was conducted in Antananarivo from April 26 to May 17, 2005. The CLEAR analyzes donor effectiveness in microfinance and helps donors better adapt their support for developing financial systems (savings, loans, insurance, transfers, etc.) that benefit the poor. CLEARs are part of the Consultative Group to Assist the Poor (CGAP) Aid Effectiveness Initiative, which was launched in 2002 with a series of 17 Microfinance Donor Peer Reviews. CLEARs help funders adapt their internal systems to design, implement, and monitor better programs. They also help funders identify key gaps in the financial system that inhibit the provision of permanent financial services to poor people.
The note describes the rationale, and objectives of the pilot micro-finance capacity-building ini... more The note describes the rationale, and objectives of the pilot micro-finance capacity-building initiative in Africa, to reinforce financial management, link African services providers to the Consultative Group to Assist the Poorest (CGAP), and expand CGAP knowledge base, to build a market for capacity-building services in Africa. Courses were developed to include delinquency measurement and control; micro-finance accounting; financial statements and analysis; business planning; and, training for trainers. Lessons specify that the initial focus on content and trainer quality, vastly underestimated the crucial importance of marketing and logistics for successful training, suggesting that the development of the supply-side of the capacity-building market - local trainers and technical service providers - has been the most challenging issue. Nonetheless, the interest, and tangible efforts by donors, and potential trainers to replicate the program in other markets is one of the most signi...
Although the money transfers market offers tantalizing opportunities for financial service provid... more Although the money transfers market offers tantalizing opportunities for financial service providers, the risks can be high. This technical guide helps delineate when offering transfers is of interest to financial service providers. It helps them determine what strategy, products, and institutional structure are needed to support a successful money transfer operation. This guide is primarily written for use by financial service providers such as Microfinance Institutions (MFIs) and other institutions that serve low-income clients. MFIs are defined as financial cooperatives, nongovernmental organizations (NGOs), specialized financial institutions, non bank financial institutions, savings and postal banks, and others. The guide seeks to help with the launch of new money transfer services or improve existing ones.
Although much has been written about the benefits that money transfers could bring to pro-poor fi... more Although much has been written about the benefits that money transfers could bring to pro-poor financial service providers and their clients, relatively little information is available on how they might enter the money transfer market. This paper explores the operational and strategic considerations involved in launching a money transfer product. The first section begins with an overview of global money transfers, including the overall size and structure of the industry and the differences between its different segments- cross-border and domestic, formal and informal, retail and wholesale. The second section describes the main types of transmission channels used to transfer funds, the types of providers traditionally associated with these channels, partnerships between these providers, and new customer interfaces being used to make money transfers cheaper and more convenient for clients. Finally, the third section explores how a pro-poor financial service provider might begin to bui...
Although much has been written about the benefits that money transfers could bring to pro-poor fi... more Although much has been written about the benefits that money transfers could bring to pro-poor financial service providers and their clients, relatively little information is available on how they might enter the money transfer market. This paper explores the operational and strategic considerations involved in launching a money transfer product. The first section begins with an overview of global money transfers, including the overall size and structure of the industry and the differences between its different segments- cross-border and domestic, formal and informal, retail and wholesale. The second section describes the main types of transmission channels used to transfer funds, the types of providers traditionally associated with these channels, partnerships between these providers, and new customer interfaces being used to make money transfers cheaper and more convenient for clients. Finally, the third section explores how a pro-poor financial service provider might begin to bui...