Innovations In Rural Microfinancing

The progress of financial inclusion is the result of digitization trend of the financial sector, with a major impact on financial institutions. Creating new distribution models (networks of external agents, banks without branch network), the emergence of new opportunities in access management and customer back-office are just some of the challenges microfinance sector has passed through innovation and adaptation continues. The phenomenon of "Microfinance 3.0 'has created new opportunities for customers: easy management of household savings, revenue collection, payment of bills and taxes. Using it still must become more concrete and consistent in Romania, and customers should be educated to master these new tools digitized. It is indisputable that a revolution is taking place! In the context of the financial crisis, microfinance continues to grow, offering new opportunities digital form, be it access to new customers or help and services provided to beneficiaries. Rural area , as reported by the EU Rural Review are estimated to generate 48% of the EU’s gross value added and provide 56% of the Member States total employment. A typical characteristic of the rural economy is the presence of small and medium-sized enterprises (SMEs), many of which are micro-businesses with a high proportion of self-employment.