Social performance data keeps the focus on clients.
MIX is dedicated to bringing social performance management to the forefront of the financial inclusion industry. We focus on indicators that are clearly and directly linked to results, have quality that can be tested and benchmarked, and can be easily validated by third parties. We continue to assess our indicators to ensure the financial services industry keeps clients at the center.
Social Performance Data
We partnered with the Social Performance Task Force to develop 11 areas of social performance management comprising over 80 indicators, by which an FSP’s strategies, policies, products and outcomes can be assessed relative to its mission. FSPs can report their SP data using MIX’s reporting platform or import them from their completed CERISE SPI4 form. These indicators are integrated into our standard datasets and analytical tools so they can be viewed alongside financial and operational indicators.
A few years ago, reliable and comparable social performance data was not readily available. We created a comprehensive desk review methodology to encourage FSPs to verify their data. Now completed, the desk review methodology demonstrated how FSPs could simply and easily corroborate their social performance data. While MIX no longer offers the auditing process, over 270 FSPs have completed the Desk Review.
Up until August 2016, MIX recognized FSPs that satisfied the following requirements as STAR (Socially Transparent And Responsible) FSPs: (1) attaining a certain level of alignment with both the Universal Standards and green microfinance principles as measured by MIX’s SP indicators and (2) fully documenting all social performance data reported through our Desk Review. FSPs that meet these requirements receive STAR Recognition and are distinguished by the green ‘Socially Transparent & Responsible’ button featured on their MIX Market profile.
Voice of the Client
In collaboration with Hivos, MIX developed the Voice of the Client (VoC) initiative to leverage mobile technologies as a means to analyze the level of satisfaction of clients towards the suite of products and services offered by their FSPs. The analysis is drawn directly from clients of participating FSPs via a survey was created with the support of the Smart Campaign to focus on client protection principles (CPPs). In order to demonstrate the importance of this client data for FSPs, we produced analyses in India, Peru and Cambodia.