FINCA has long established the standard for customer protection in the microfinance industry. Which is developed with the following principles:
Proper design of the product and supply.
Prevention of over indebtedness.
Transparency responsible pricing.
Fair and respectful treatment to customers.
Privacy of customer data.
Mechanisms for the resolution of complaints.
We also actively participate and support, in the transparency of the Microfinance sector, an industry-wide effort to ensure full transparency in pricing, and universal performance standards that measure social performance and mission performance. Here are two additional ways in which FINCA protects its customers:
Customer training FINCA clients will receive training prior to the granting of their credit. During training, clients will learn about their credit, how to manage cash flows, how to reserve a portion of their earnings for savings, and how to know if they have the ability to expand their businesses.
FINCA conducts rigorous research to better understand our clients and how microfinance is affecting their lives and livelihoods. Research helps confirm that we are reaching out to the lowest-income entrepreneurs, and that our products and services meet their needs. It also allows us to adapt our practices to the evolution of markets and the needs of customers.