Redefining Risk Management Frameworks for Digital Microfinance: Integrative Models for Secure and Inclusive Onboarding

Abstract

The NIST data also supports this result and shows that faster diffusion of financial service into digital space enables penetration of microfinance institutions (MFIs) to reach rural poor that not covered up by traditional banking but also increasing defect and cyber-attack especially in mobile customer business follow-up. This paper devotes to the re-conception of the existing risk management models and comes up with a unified conceptual model tailored to high-risk context in digital mass onboarding systems of micro-finance organisations. Drawing strength from the cross-disciplinary theories and best practices, our framework integrates real-time transactional monitoring, multi-layer verification, as well as adaptive anti-fraud policies to help facilitate secure and inclusive onboarding. The model evaluation reveals high model completeness and applicability across touch points of risk taxonomy as well as guideline clarity and usability, and regulatory consistency; simulated use case assessments indicate strong potential to reduce attack vectors without compromising digital inclusion. The primary contribution of this paper is to provide a pragmatic and adaptable microfinance-policy and -practice guide to building resilient institutions and sustainable financial inclusion amidst an evolving digital threat environment.