MIX hosted a webinar focused on the Voice of the Client (VoC) project, a pilot developed for MFIs to leverage mobile technologies as a means to analyze client satisfaction.
The biggest gaps to achieving financial inclusion in the country/industry in focus:
To date, clients’ perspectives have largely been missing from the discussion around financial inclusion. As a result, the industry still lacks large-scale, reliable and comparable client level data.
Key action steps to advance financial inclusion:
We need to overcome the limitations of the current practices in the collection of this type of information - which mainly happen through face-to-face interviews or focus groups. The practices are very time consuming and expensive, and the result is that few clients are ever proactively approached and interviewed by financial service providers. MFIs often use grievance mechanisms to collect client feedback, but this means waiting for clients to file a complaint, rather than proactively reaching out to them. One concrete action is to adopt the Voice of the Client approach - which uses mobile technology as a way to allow cost-efficient data collection, reach scalability and ensure timely access to data. The VoC approach is bottom-up, client-centered and uses independent monitoring to allow reliable comparison of the answers across markets.