> Posted by the Smart Campaign
Today, the Smart Campaign released for public comment new draft Client Protection Standards – which will be the basis for what we term Certification 2.0. The new standards streamline the previous Client Protection Standards, and reflect the evolving financial inclusion industry. They incorporate client risks pertaining to insurance, savings, and digital financial services. The standards operationalize where the financial inclusion industry sets the bar in terms of the minimum behaviors clients should expect from their financial service providers. Now open, the public comment period extends through November 30, 2015.
We’d love your feedback!
The new standards build off of the first set of Client Protection Standards, released in January 2013, as the basis for the introduction of Smart Certification. The standards and their corresponding indicators, which put the Client Protection Principles into practice, are used to benchmark institutions seeking Smart Certification.
Like the first iteration, the development of Certification 2.0 standards has been a highly collaborative process. Over the past 18 months, the campaign consulted a wide array of stakeholders and up to 30 experts to strengthen and update the standards and indicators.
In keeping with standard-setting best practices and the dynamically changing industry, the Smart Campaign and industry partners worked to improve the process by which the standards are set as well as the content they cover. The draft Certification 2.0 standards are informed by the ISEAL Alliance industry best practices, with the purpose of upholding robust and operational criteria. Previously unaddressed and rising risks, products, and concerns arising from our client voice research were accounted for.
The Client Protection Standards, and the Smart Campaign, are truly a public good for and by the industry. To be effective, the standards need to incorporate your knowledge and experience.
There will also be a series of webinars to present and discuss the draft standards in October and November 2015, conducted in English, Spanish, French, and Russian. Please contact Haset Solomon if you are interested in participating.
Your input – along with several pilots of the draft standards with our partner institutions – will enhance the Client Protection Standards. The final version will be released in January 2016 and will come into effect and become the basis for certification as of June 2016.
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