Protecting Savings Groups Reached Through High-Tech Channels: Guidance from the New Client Protection Principles for a Digital Savings Product
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This case study, utilizing an experience from Freedom from Hunger’s Bridge to Financial Inclusion project in Burkina Faso, explores the experience of integrating client protection principles – the minimum standards microfinance clients should expect – into the initial design and roll-out of a digital savings product designed for Savings Groups. The authors identify the following challenges and risks: (1) limited client knowledge; (2) high costs; (3) network downtime; (4) potential misuse of client information by mobile money agents; (5) insufficient agent liquidity; (6) lack of client dispute mechanisms; and (7) various cultural and technical barriers.
English Access to Formal Finance Consumer Protection Featured Resources Consumer Protection 2018