Empowering Microfinance Processes through Hybrid Cloud Based Services
Microfinance plays an important role in the improvement of the livelihood of people especially in developing countries. The provision of microfinance services (such as micro loans, insurance, savings and technical assistance, among others) are considered as good measures for the reduction of poverty and levels of unemployment. The expansion of microfinance services has been accompanied with unprecedented technological developments that significantly affected the operational efficiency of microfinance institutions and dictated new axioms for information sharing. This paper is concerned with the use of hybrid cloud information infrastructures to facilitate engagement with stakeholders and improve the ability of MFIs to realize their business and social goals. The proposed infrastructure adopts a holistic approach that goes beyond viewing cloud services as being limited to the use of software-as-a-service (SaaS). In addition to describing the entire hybrid cloud environment, this paper reflects on the collective use of its “private” and “public” cloud components.