ENHANCE CUSTOMER SERVICES FOR PROBLEM RESOLUTION AND PRODUCT INNOVATION

Potential Actions for Signatories are based on recent industry examples, and are not intended to be used as a compliance checklist given digital financial services standards are still evolving.  Rather, examples of potential actions should be used for a more comprehensive due diligence assessment, and an opportunity for Signatories to develop new products and solutions for customers. Signatories may test, refine and adapt current industry evidence so as to be more relevant to their digital financial services investments, business models, market context, among other factors.
Examples of potential actions:
  • Support the establishment of customer care services (call center) with responsive mechanisms for complaints
    resolution both to resolve individual problems and to improve/tailor products based on ongoing customer
    feedback throughout relationship.
  • Encourage informing customers’ of their rights and obligations, including how to complain, who to call, how to
    register a complaint and the time towards resolution.
    Promote tailoring, innovations in product design, and flexibility. Track, monitor and analyze customer
    complaints to improve products and services. Investors may support investees through technical assistance to
    pioneer innovations, such as digital tools that allow providers to have an insightful conversation with
    customers before, during and after borrowing cycles to improve product suitability and customer
    segmentation.