RFPs: Support for the Digital Transformation of a Microfinance Institution Operating in Benin

Objective

• The microfinance sector is in full digital transformation. Faced with rapid technological advances and the evolution of clients’ expectations, Microfinance Institutions (IMFs) must modernize their processes to offer more inclusive services. The main objective of this digital transformation is to strengthen access to financial services, especially for populations with low incomes and the PMEs. The IMF seeks to automate its credit processes while simultaneously putting in place a digitally integrated, dynamic and secure solution, allowing a fluid and efficient client experience. For this, the IMF wishes to provide an environment with the professional expertise required to manage this digital transition.
• The UNCDF will attribute the contract to a single and unique provider of services.

Scope of Work

• The scope of work comprises 4 volumes:
  • Assisting the IMF in the refinement and validation of an existing file of charges, leading to the implementation of a digital platform aimed at:
    • The automation of the credit process reducing treatment times Demands credit by eliminating manual tasks.
    • The improvement of transparency ensuring a traceability in real time of the credits granted and facilitating the production of reports for the parties involved.
    • The strengthening of data security by temporarily putting in place advanced protection mechanisms conforming to BCEAO standards and against cyberattacks.

Duration 

• The TA activities should be implemented over a maximum estimated period of up to 14 months to allow the TA beneficiary to integrate the activities and deliverables: implementation of activities, training sessions and workshops, actual transfer of skills, feedback/acceptance/approval and adjustments where necessary, etc. The consulting firm must justify the distribution of activities carried out in person and virtually/remotely. The consulting firm should propose KPIs that are aligned with the MFI’s objectives and that are aligned with the TA engagement objectives. The following examples of TA KPIs are provided for illustrative purposes only: process efficiency, cycle time reduction, cost savings, error rates, customer satisfaction, or revenue growth.
• A period of approximately 7 working days (maximum) may be required for UNCDF to review the results, share reactions and comments, certify approval/acceptance of the results, etc.

Eligibility Criteria

• Profile of the advice cabinet:
  • Geographic presence: ability to operate in Benin or have activities or a physical presence in the country during the last 5 years at a minimum. A good experience in one of the Pays Les Moins Advanced (PMA) during the last 10 years can also be considered come here.
  • Antecedents of the success of my work in 3 similar missions of assistance technology in the microfinance or banking sector in the last 5 years.
• Composition of the team of experts :
  • The advice cabinet should ideally constitute a team composed of the following categories:
    • Senior specialist acting as team leader :
      • Formation: Minimum Mastery in commerce, management, finance du development, or in a domain connexion
      • Relevant roles of direction or coordination and/or implementation of advisory services to enterprises in the microfinance sector and/or banking or technical assistance projects over the last 10 years.
      • Practical knowledge of financial inclusion, risk management and digital finance over the last 10 years.
      • Experience of practical work with stakeholders of the microfinance sector and/or banks or fintech over the last 10 years.
      • Experience in practical work in setting up or supporting the digital transformation process in the microfinance and/or banking sector, and in change management and capacity building initiatives related to digital finance. – Professional experience in Benin or in the PMA during the last 10 years.
      • Language: Mastery of French in writing and oral. Knowledge and use of English are an advantage competitive.
    • Specialist(s)
      • Formation: Minimum Master in sciences de technology, de l’information et de la communication (TIC), in business, in development finance or in a related domain.
      • General professional experience in the sector of microfinance and/or banks or in the management of projects in this sector during the last 7 years.
      • Expertise in digital finance, digital transformation in the microfinance and/or banking sector, access to financial services at the base of the pyramid, risk management, loan portfolio management, topics related to credit administration, etc. during the last 7 years.
      • Knowledge of SIG practice and digital solutions in the financial services sector.
      • Knowledge of the fintech sector in practice (regulations, stakeholders, issues, actors) the PMA and especially in Benin during the last 7 years.
      • Practical experience gained in the implementation of change management processes and capacity building initiatives related to digital finance over the last 7 years.
      • Professional experience during the last 7 years in Benin; the experience in other PMAs It is a competitive advantage.
      • Language: Mastery of French in writing and oral; The knowledge and practice of English are an approach.
    • Specialist(s) junior(s):
      • Formation: License in economics, in affairs, in finance of development, TIC or in the domains connexes.
      • General professional work experience or management of digitization or digital finance projects in the financial inclusion, fintech or microfinance and/or banking sectors during the last 4 years at least.
      • Experience in practical support of business management services of profit advisory services of microfinance or financial establishments or fintech in the last 4 years at least.
      • Professional experience during the last 4 years in Benin; the experience of others PMA is acceptable.
      • Language: Mastery of French in writing and oral.
• FENU is willing to consider any further distribution of work/number of experts provided that the proposed team of experts fully responds to the tasks and requirements of the mission, and that the categories of profiles above are clearly defined and Assigned to members of the proposed team.

For more information, visit UNDP.