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Agenda 1. Introduction to the Smart Campaign 2. Principles of client protection 3. Client Agenda 1. Introduction to the Smart Campaign 2. Principles of client protection 3. Client protection certification 4. Tools available for improving client protection 2

The Smart Campaign… …represents a global, industry-wide effort …has an international steering committee …collaborates The Smart Campaign… …represents a global, industry-wide effort …has an international steering committee …collaborates with the Social Performance Task Force (SPTF), MIX Market Social Reporting, MF Rating Agencies, MFTransparency etc, …is housed at the Center for Financial Inclusion at Accion International 3

Why Now? Now is a critical time to focus on client protection, for several Why Now? Now is a critical time to focus on client protection, for several reasons: • Demands for accountability and transparency • Microfinance crises in several countries • Negative media attention regarding impact • Public and governmental concern over high interest rates • Rapid growth, rising competition, and new players 4

Client protection: 3 pillars RESPONSIBLE FINANCE Regulation for client protection and supervision Financial RESPONSIBLE Client protection: 3 pillars RESPONSIBLE FINANCE Regulation for client protection and supervision Financial RESPONSIBLE education and FINANCE capability Standards and codes of conduct for the industry 5 5

Timeline Milestones To-Date 2016 2015 2013 2011 2009 SC officially launched in September 2009 Timeline Milestones To-Date 2016 2015 2013 2011 2009 SC officially launched in September 2009 Client Protection Principles updated from 6 to 7 Certification Program launch: January 24, 2013 with Standards 1. 0 6 Draft Standards 2. 0 launched for public comment September 29 th 2015 Standards 2. 0 go “live” in July 2016

Campaign Endorsers Globally http: //maps. smartcampaign. org/ 7 Campaign Endorsers Globally http: //maps. smartcampaign. org/ 7

Goals for Smart Campaign 1. Policy and Advocacy level engagement with Regulators using Model Goals for Smart Campaign 1. Policy and Advocacy level engagement with Regulators using Model Legal Framework. 2. Build capabilities around Smart Standards 2. 0 and keep updating and improving standards to reflect evolving business models and industry trends 3. Implement Regional Strategies – Africa, LAC, MENA, Asia. 4. Empower and engage directly with clients (e. g. develop a research and learning agenda for Client Voice work) 5. Build a market for the Smart Certification. 8

 Our Partners: 9 Our Partners: 9

Agenda 1. Introduction to the Smart Campaign 2. Principles of client protection 3. Client Agenda 1. Introduction to the Smart Campaign 2. Principles of client protection 3. Client protection certification 4. Tools available for improving client protection 10

Principles of client protection 1. Appropriate product design and delivery 2. Prevention of over-indebtedness Principles of client protection 1. Appropriate product design and delivery 2. Prevention of over-indebtedness 3. Transparency 4. Responsible pricing 5. Fair and respectful treatment of clients 6. Privacy of clients data 7. Mechanisms for complaint resolution 11

Certification Standards 12 Certification Standards 12

Agenda 1. Introduction to the Smart Campaign 2. Principles of client protection 3. Client Agenda 1. Introduction to the Smart Campaign 2. Principles of client protection 3. Client protection certification 4. Tools available for improving client protection 13

Smart Campaign : Theory of Change Commitment to CPPs Analysis of CPPs Improvement of Smart Campaign : Theory of Change Commitment to CPPs Analysis of CPPs Improvement of CPPs Endorsement Smart assessment (self / Accompanied Monitor Implementation of action plan Specific upgrading projects Smart Assessment Training 14 Use of tools 14 (public recognition) Client Protection Certification

Vision of the Smart Campaign The Smart Campaign envisions a fundamental transformation of the Vision of the Smart Campaign The Smart Campaign envisions a fundamental transformation of the microfinance industry in four key ways: Focus on clients • All industry stakeholders will put the interests of clients first Transparent and prudent services Full integration of client protection • MFIs will provide transparent, respectful, prudent financial services • Client protection principles will be fully integrated into all microfinance operations 15 Gain proconsumer reputation • The microfinance industry will be distinguished as leader in responsible finance

Certification Program The Smart Certification program is important: • To enable financial institutions worldwide Certification Program The Smart Certification program is important: • To enable financial institutions worldwide to demonstrate their adherence to the Campaign's client protection principles as verified by third-party auditors. • To publicly highlight financial institutions who meet the minimum standards for client protection. 16

Who is eligible for Certification? Retail Financial Institutions who serve the poor including: • Who is eligible for Certification? Retail Financial Institutions who serve the poor including: • Banks • Consumer Finance Companies • Credit Unions • Non-Bank Financial Companies • NGOs 17

What are organizations Certified Against? In order to be Certified a financial institution must What are organizations Certified Against? In order to be Certified a financial institution must meet all 25 standards based on the 7 Client Protection Principles 18

Certification Standards 7 Principles 25 Standards 86 Indicators 19 Certification Standards 7 Principles 25 Standards 86 Indicators 19

Licensed Certifiers The Campaign expects newly accredited certifiers to be on-stream by the end Licensed Certifiers The Campaign expects newly accredited certifiers to be on-stream by the end of 2016 20

Accredited Assessors Lead Assessor Support Assessor 21 Smart Assessment Accredited Assessors Lead Assessor Support Assessor 21 Smart Assessment

Pricing for Smart Certification Smart Campaign does not set pricing for the Smart Certification Pricing for Smart Certification Smart Campaign does not set pricing for the Smart Certification Program Approximate cost for Smart Certification : 22

Monitoring progress: Certification • Client Protection Certification is an independent, third-party evaluation to publicly Monitoring progress: Certification • Client Protection Certification is an independent, third-party evaluation to publicly recognize financial institutions that meet adequate standards of care in client protection. • The Certification program was launched in 2013 to set global standards around client protection in the microfinance industry. • Today there are more than 60 Smart Certified FI across the globe serving more than 30 million clients. 23

Preparing for Certification Step 1: Orient Yourself with the Certification Standards Step 2: Download Preparing for Certification Step 1: Orient Yourself with the Certification Standards Step 2: Download the Getting Started Questionnaire and conduct selfassessment Step 3: If ready, go for a Certification mission. If not ready take necessary steps to diagnose and improve areas of weakness 24

Possible paths for Certification Non Conformity/ compliance Conforms/ Complies Smart Certified Licensed for two Possible paths for Certification Non Conformity/ compliance Conforms/ Complies Smart Certified Licensed for two years Enter the progress phase – 4 months Streamlined Certification Long term corrective action 25

Agenda 1. Introduction to the Smart Campaign 2. Principles of client protection 3. Client Agenda 1. Introduction to the Smart Campaign 2. Principles of client protection 3. Client protection certification 4. Tools available for improving client protection 26

Improving Client Protection Practice “My institution believes that client protection is important—but we need Improving Client Protection Practice “My institution believes that client protection is important—but we need help improving practice!” • The Smart Campaign offers over 60 practical tools to help financial service providers implement the client protection principles. • All of the tools are available for download free of charge. • New tools are added regularly. 27

Tools to improve practices Conducting Client Protection Assessments: A Guide How to Develop an Tools to improve practices Conducting Client Protection Assessments: A Guide How to Develop an Institutional Code of Ethics How to Talk to a Bank: A Brochure for Consumers Client Business Evaluation Toolkit “How to” Guides Strategic planning guides Case studies Training presentations Educating Clients about Client Protection Technical guides Smart Lending: Client Protection in the Loan Process Example forms Find these tools and dozens more on the Smart Campaign website. 28 28