The network is comprised of the CEO working group, that meet quarterly and several subcommittee working groups committed to communications, social performance, computerized financial services, and legitimate and HR issues. Established in 1993, the Microfinance Network offered help to members that helped steer numerous industry leaders to sustainability, and profitability in huge numbers of their largest markets. Today as the sector enters another time of transition, with the rise of computerized financial innovation that increasingly competes with conventional microfinance institutions, the Microfinance Network provides a space to discuss opportunities and challenges that arise from developing mechanical innovations in inclusive finance. Microfinance is characterized as, financial services such as savings accounts, insurance funds and credit gave to poor and low pay clients so as to help them increase their pay, thereby enhancing their standard of living.