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Evidence on the Business Case for Client Protection
August 12, 2014 in Center for Financial Inclusion, Client Focus, Client Protection, Microfinance, Smart Campaign, Social Performance | Tags: Client Protection, Client Protection Principles, Collection Practices, Complaints Resolution, Ethical Staff Behavior, European Microfinance Platform, Financial Performance, Fundación Mundo Mujer Popayán, Microfinance, Overindebtedness, Privacy, The Smart Campaign, Transparency | by Center for Financial Inclusion | Leave a comment
> Posted by Nadia van de Walle, Senior Africa Specialist, the Smart Campaign
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Serve clients with suitable products. Prevent over-indebtedness. Be transparent and price products reasonably. Treat clients respectfully, listen to their grievances, and protect their privacy.
The seven client protection principles make undisputedly good sense on paper. It’s hard to argue against any one of these practices, either normatively or from the perspective of the financial bottom line. We assume that well-treated, well-understood clients using appropriate products through the right delivery channels are more loyal, satisfied, and likely to refer their friends and family, provide useful feedback, and repay loans. Right?
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