List of Principles

# Organization Standards or Code of Conduct # Standard/Principle/Indicator Name Brief Description
1 Center for Responsible Lending
2 Responsible Business Lending Coalition Small Business Borrowers’ Bill of Rights 1
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3 CGAP
4 Responsible Finance Forum
5 Better Than Cash Alliance Responsible Digital Payments Guidelines 1 Treat Clients Fairly Clients need to be treated fairly if they are to trust digital payments, especially those clients with low levels of financial and technological capability.
2 Keep Client Funds Safe Clients, especially the financially excluded or underserved, need reliable and secure access to funds in digital transaction accounts.
3 Ensure Product Transparency for Clients Providing clients with transparent product information requires special attention in a digital environment, especially where information is only available electronically, such as on a mobile phone.
4 Design for Client Needs and Capability Designing digital payments for client needs and capabilities will increase use and reduce complaints.
5 Support Client Access and Use Through Interoperability While recognizing the need to balance competition and innovation, ensuring the interoperability of platforms, agents, and clients is highly desirable so customers of different schemes can make payments to each other and agents can work for different providers. This is especially important for clients living in remote rural areas.
6 Take Responsibility for Providers of Client Services Across the Value Chain Clients are more likely to trust and use digital payments if providers take responsibility for the actions of agents, employees, and third party service providers across the value chain.
7 Protect Client Data Protecting clients’ digital data is increasingly important given the volume, velocity, and variety of data being used for marketing and credit scoring, while recognizing that use of client data can increase the range of products a client can access.
8 Provide Client Recourse Clients need access to a fair recourse system for dealing with complaints about digital payments. This is especially necessary for complaints about innovative and unfamiliar products delivered via new channels and for clients who live remotely and may have little to no direct contact with providers
6 Accion Center for Financial Inclusion Smart Campaign – Client Protection Principles CPP1 Appropriate product design and delivery Providers will take adequate care to design products and delivery channels in such a way that they do not cause clients harm. Products and delivery channels will be designed with client characteristics taken into account.
CPP2 Prevention of over-indebtedness Providers will take adequate care in all phases of their credit process to determine that clients have the capacity to repay without becoming over-indebted. In addition, providers will implement and monitor internal systems that support prevention of overindebtedness and will foster efforts to improve market level credit risk management (such as credit information sharing).
CPP3 Transparency Providers will communicate clear, sufficient and timely information in a manner and language clients can understand so that clients can make informed decisions. The need for transparent information on pricing, terms and conditions of products is highlighted.
CPP4 Responsible pricing Pricing, terms and conditions will be set in a way that is affordable to clients while allowing for financial institutions to be sustainable. Providers will strive to provide positive real returns on deposits.
CPP5 Fair and respectful treatment of clients Financial service providers and their agents will treat their clients fairly and respectfully. They will not discriminate. Providers will ensure adequate safeguards to detect and correct corruption as well as aggressive or abusive treatment by their staff and agents, particularly during the loan sales and debt collection processes.
CPP6 Privacy of client data The privacy of individual client data will be respected in accordance with the laws and regulations of individual jurisdictions. Such data will only be used for the purposes specified at the time the information is collected or as permitted by law, unless otherwise agreed with the client.
CPP7 Mechanisms for complaint resolution Providers will have in place timely and responsive mechanisms for complaints and problem resolution for their clients and will use these mechanisms both to resolve individual problems and to improve their products and services.
7 Innovative Lending Platform Association Smart Box 1  Offers of Capital or Financing Should Be Transparent and Comprehensive
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8 Alliance for Financial Inclusion Guideline Note 13: Consumer Protection in Mobile Financial Services
9 Marketplace Lending Association Marketplace Lending Best Practices
10 Coalition for Responsible Finance CRBF Code of Ethics & Best Practices
11 Bank for International Settlements Guidance on the application of the Core Principles for Effective Banking Supervision to the regulation and supervision of institutions relevant to financial incluson
12 Online Lenders Alliance Online Lenders Alliance Best Practices