Focusing on the client relationship

Technological innovation creates opportunities to automate processes such as credit assessments and disbursement. Yet the linchpin of CreditAccess’ business is the direct, personal relationship with its clients. Strengthening this relationship is a key innovation target.

Essentially, microfinance is a collection business. Success depends on the willingness of the borrower to pay back a loan. CreditAccess prides itself on an extremely high repayment rate of up to 99.6%, one of the most important success factors being regular, face-to-face contact during the collection phase. Given the socioeconomic profile of our customer base, combined with the low level of utilisation of new technologies, this will remain an essential part of the Company’s business, for at least the next 10 years.

Technological innovation, however, creates opportunities to further strengthen this personal relationship. For example, the innovation programme will look for ways to extract more valuable business intelligence from client interactions. This will provide a better understanding of the client base and of trends which may influence CreditAccess’ business in the future. Other innovations will aim to support field staff in streamlining the process of attracting new clients and selling products more effectively to different client segments.

Such innovations will enable CreditAccess to focus field staff activities on the most critical processes (especially payment collection), but also to build an even stronger relationship with clients. The aim is not just to provide credit but to position CreditAccess as a committed partner, helping both clients and their communities build a better life. A strong brand preserves goodwill, even when repayment problems arise, and inspires confidence in other products from Operating Companies’ portfolios.