SPM goes beyond responsible finance
Microfinance clients have insecure livelihoods. This vulnerability means that one negative event can leave them and their family destitute.
In this face of this vulnerability, the responsible finance agenda teaches MFIs to “do no harm”. This is an important message, and is an area of growing interest and experience within the industry. Building on this, SPM focuses on “do good for clients”, and demonstrates how MFIs can create a deliberate strategy to achieve their social objectives.
In practice, this means:
- Addressing client vulnerability through how services are designed and delivered
- Understanding how clients’ needs change over time, and responding to this in a timely way
