Fortis Micro Finance Bank (MFB) on Monday expressed committement to ensure improved services, protection and satisfaction of clients through its Client Protection Principle (CPP) certification.
Mr Tiko Okoye, the banks Managing Director, told our correspondent in Abuja that Smart Campaign would formally present the bank with the CPP certification on Sept.28.
The Smart Campaign is a global effort to unite microfinance leaders around a common goal; the organisation has as its mandate to keep clients as the driving force of the industry.
The Campaign is working with microfinance leaders around the world to provide microfinance institutions with the tools and resources needed to deliver transparent, respectful and prudent financial services to all clients.
The CPP is an operation of the Smart Campaign, which when implemented by microfinance institutions, helps build stronger and lasting relationships with clients.
It also helps to increase client retention and reduce financial risk faced by clients.
When incorporated into their investment criteria and due diligence, CPP enables microfinance investors to build healthier and more client‐focused industry that will foster a stronger portfolio and ensure healthy returns.
According to Okoye, Fortis upholds the highest standards in protecting its clients and ensuring that access to Microfinance does not further impoverish its clients.
“We had set very high standards for ourselves in Fortis to be the first Financial Institution (FI) in Africa to undergo the stringent steps towards achieving the CPP certification.
“This standard is also in line with our Social Mission of ensuring that the highest ethics are upheld in providing financial services for the economically active poor in Nigeria
“The CPP certification endears us to both our clients and stakeholders.
“It also endears us to funding and of course we have the self- fulfillment of the International approval which few in the world have of good ethics in social finance,’’ he said.
Okoye stated that the Smart Campaign would host and engage panel discussion on client protection in financial inclusion, followed by a certification ceremony in Lagos on Sept. 28.
He said the event would feature representatives from the Central Bank of Nigeria and financial inclusion thought-leaders on the key client protection issues and challenges facing the Nigerian market.
He said the discussion would be followed by a series of activities to recognise Fortis Microfinance Bank, one of the first two Nigerian client protection certified MFIs.