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Fingerprints for Financing: Removing Some Risk from Lending in Africa

ANN ARBOR — Some called it “witchcraft.” Others just watched in awe as their scanned fingerprints were used to pull up their records on a computer.

They were paprika farmers in Malawi participating in a new study that shows fingerprinting can help encourage borrowers to repay their loans.

Like many impoverished countries, Malawi lacks a national identification system. Most of the population lives in rural areas with few government services. Even ID as basic as a birth certificate is rare in the southeastern African nation. (more…)

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