Expanding CreditAccess’ product range
A close, personal relationship with clients enables CreditAccess to be more than a credit provider. The ultimate goal is to be their first point of reference, a reliable partner for all of their business-related needs. This requires an innovative portfolio, covering a range of new financial products.
For many clients CreditAccess is already much more than a provider of credit with fair conditions. Additional services include financial education, training, business advice and pension saving plans. In some areas, CreditAccess’ role extends to the well-being of the entire community.
In India’s Karnatake State, for example, the Company supported the installation of 400,000 sanitation systems and an education course on the subject of sanitation which reached over 1.3 million households.
One of the innovation programme’s goals is to strengthen and cement CreditAccess’ position as an all-round business partner by developing a wider range of products and services. This will include credit products for working capital, long-term investments or consumption, as well as related products such as pensions, insurance and financial advice.
To build up a sustainable portfolio, CreditAccess needs to:
- carefully analyse its markets;
- identify areas in which the Company can distinguish itself from competitors and create value for clients across different countries and cultures;
- make sure that any resulting product or service concepts are manageable and profitable.