Understand the challenge Chart the path forward Empower agents of change Translate intentions into action Protecting the rights of the global poor and financially excluded Client Protection Principles ID: 568833
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Slide1
Enshrine client rights
Understand the challengeChart the path forwardEmpower agents of changeTranslate intentions into action
Protecting the rights of the global poor and financially excluded Slide2
Client Protection Principles
Appropriate product design and delivery
Prevention of over-indebtednessTransparencyResponsible pricing
Fair and respectful
treatment
of clients
Privacy of clients data
Mechanisms for Complaint resolutionSlide3
3 Pillars of financial inclusion
Regulation and Client Protection supervisionFinancial Education and Capability
Standards and Codes of ConductSlide4
A Change in Behavior: Innovations in Financial Capability
Teachable moment
Learning by doing
Nudges and reminders
Rules of thumb
Make it fun
Customize it
Make it SocialSlide5
Financial
Capability: Lessons LearnedLow education is more a problem of psychology than knowledgeClients have difficulty distinguishing between different service qualityClients don’t understand how the financial system works, which undermines their faith in it. Slide6
Typically, 50% of clients don’t understand the terms
Client Education works better when coupled with incentives (debt counseling and mediation)Regulators have a critical role to play
Financial
Capability:
Lessons Learned, ContinuedSlide7
Tools, Resources & Ideas
Smart Campaign StandardsFinancial Inclusion WeekInnovations in Financial Capability A Change in Behavior: Innovations in Financial Capability
Smart Campaign Client Voice ProjectCenter for Financial Inclusion Blog