Keeping clients first in financial inclusion
SMART CERTIFICATION The Smart Campaign works globally to create an environment in which financial services are delivered safely and responsibly to lowincome clients. As the world’s first financial consumer protection standard, the Campaign maintains a rigorous certification program, elevates the client voice, and convenes partners to effect change at the national level. Nearly 100 financial institutions, collectively serving more than 41 million people, have been certified for adhering to the Campaign’s indsutry-accepted consumer protection standards.
Smart Certification “Certification is about financial institutions actively demonstrating their commitment to the people they serve and microfinance stakeholders working towards a more stable industry.” Isabelle Barrès, Director, the Smart Campaign
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Smart Certification is a way for financial service providers to demonstrate their commitment to client protection. Certification is awarded to financial service providers that complete an independent, third-party evaluation of their policies and practices. Smart Certified institutions know with confidence that the way they do business accords with global best practices for protecting economically vulnerable clients. As the sector has evolved, so too has Smart Certification. Today, the program helps financial service providers offering credit, savings, insurance, payments and digital financial services treat their clients with the respect and dignity that they deserve.
Why Certification Matters •
Smart Certification represents the only truly global seal of an institution’s commitment to protecting economically vulnerable clients. Financial service providers worldwide are held to the same set of exacting standards.
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96% of institutions agree that certification has helped them prioritize client protection and 93% say that it helped them reshape the institution’s culture around its social mission.
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Investing in a Smart Certified institution provides long-term dividends: Smart Certified institutions prioritize client protection long after they have received their certificate. 95% of Smart Certified institutions have said that they evaluate new policies according to whether or not they comply with the Client Protection Principles.
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Most Smart Certified institutions said that their regulators have taken notice of their newly certified status. 44% of Smart Certified institutions indicated that they were able to capitalize on their certified status to attract investor interest not previously present.
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What Types of Institutions Can Be Certified? Financial institutions that provide services to lower segments of the market and/or financially-excluded populations are eligible for Smart Certification. This includes institutions of any legal form, including, but not limited to banks, finance companies, NGOs and credit unions.