Payday Loan and Innovations for Microcredit

At the end of last month,RUSSIA FORUM 2017 was held in the capital where the best microcredit market experts discussed pressing issues. The event was coordinated by SRO. This large-scale event became nothing more than the merger of two main microfinance forums organized by the aforementioned coordinators.

The conference was actively attended by about 300 representatives of various fields, in one way or another, associated with microcredit activities. These include representatives of the authorities, the PPL Bank, SROs, major microcredit companies, the international microfinance community, financial experts and others.


Dynamics of microloan development

microloan development

One of the topics of interest was “How to cope with growing regulatory requirements and preserve business efficiency.” They discussed issues arising in connection with the regulator’s demand for changing the names of organizations and the subsequent actions of companies, provided information regarding the dynamics of microloan development.


Increase loyalty to their clients.

Positive trend in the microfinance market

Of course, it was interesting to discuss social issues. Payday Loans should continue to actively exist and increase loyalty to their clients. Small loans should be available to citizens of our country, and payday loans should raise their increasing confidence. You can not, just forget about supporting small businesses. They believes that every microcredit company should raise its rating and improve its image in the eyes of the population. Such actions should lead citizens to improve their opinion on the microcredit market and the financial sector as a whole.

It was noted that, despite a significant reduction in organizations in the ranks of Payday Loans, last year there was a steady increase in payday loans issued. Perhaps the PPL Bank, by its “mopping up”, has just increased the confidence of citizens in fast loans.


Positive trend in the microfinance market

Positive trend in the microfinance market

Most of the speakers at the conference said that at the moment there is a positive trend in the microfinance market. All referred to the fact that this was facilitated by the introduction of new laws, mainly protecting borrowers and the responsible attitude of companies to these laws. Now companies need to continue to increase loyalty to customers, as well as introduce new technologies into their business processes.

Payday Loans, as well as financing in general, should be understandable, accessible and convenient for every citizen of the country.

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