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THE MICROFINANCE DATA SHARING SYSTEM ( MiDAS )

THE MICROFINANCE DATA SHARING SYSTEM ( MiDAS ). RBB Foundation . What is MiDAS?. Data Sharing System that allows MFIs to submit reports, send inquiries and retrieve results on borrower information. In other words, this is the Microfinance Credit Bureau. The MiDAS Journey. Jan 2012

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THE MICROFINANCE DATA SHARING SYSTEM ( MiDAS )

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  1. THE MICROFINANCE DATA SHARING SYSTEM (MiDAS)

  2. RBB Foundation

  3. What is MiDAS? • Data Sharing System that allows MFIs to submit reports, send inquiries and retrieve results on borrower information. • In other words, this is the Microfinance Credit Bureau.

  4. The MiDAS Journey Jan 2012 onwards • MOA Signing, and • Road shows Dec • Review and finalization • of MOA Sept • Final review and acceptance May • Launching of Pilot Phase Apr • MiDAS Application Development Mar • MOU Signing and Finalization of Terms Of Reference Feb 2011 • Planning Conference in Iloilo

  5. The MiDAS Journey • Technical Working Group composed of senior representatives from 6 MFIs agreed on definitions, scope, reports, desired service levels by first week of March • 6 MFIs signed an MOU with RBB FOUNDATION as project manager on behalf of the MFIs and BAP-CB as service provider • First subsystem of MiDAS is the BARIS (Borrowers At Risk Information System)

  6. MIDAS Business Requirements • Individual Level • Barangay Level • List all BAR in a given barangay as reported by participating MFIs as of a certain date • Follow the official list of provinces, cities/municipalities and barangays posted on the website of the National Statistics Coordination Board (www.nscb.gov.ph) which is the primary reference for BAR reporting and BAR search by area.

  7. MIDAS Business Requirements Contains only 8 data elements • Name of MFI • Name of Borrower (Last Name, First Name, Middle Initial) • Birth Date (MM/DD/YYYY) • Complete Address (no., street, brgy, municipality or city, province) • Regular Loan Outstanding (Income Generating Loan) • Other Loan Outstanding

  8. MIDAS Business Requirements • BAR Type - Explanation why borrower is classified as “at risk” based on the definition of client at risk (code applies only to regular loans). In cases where the client does not have regular loan, code applies to other loans. • Cutoff date of report of the institution

  9. Key Agreements with MiDAS Participants • Reciprocity • Give = GET • Voluntary vs. Mandatory • Confidentiality • Info limited to those who are authorized w/in the institution • Retention • No prescription • Obligation to report any resolution in BAR

  10. Key Agreements with Future MiDAS Participants • Required Reports • Monthly Submission • BAR - Categories

  11. Key Agreements with Future MiDAS Participants • Ownership and Governance • Data belongs to participating MFIs collectively • Create an entity to own and manage MiDAS going forward • RBB Foundation plays only an interim role • Client Waiver

  12. Key Agreements with Future MiDAS Participants • 7. Cost (Effective October 01, 2012) • Annual Membership Fee – P10, 000 • 8. Fees

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