Koperasi Mitra Khuafa (Komida) was started in 2004 as an NGO and is one of the largest microfinance organisations in Indonesia. In 2009, it transformed into a cooperative in order to increase its outreach to more low-income and financially excluded women. Komida now serves nearly 400,000 clients and takes a holistic approach to providing both financial and non-financial services to achieve better outcomes for client households in the areas of income, health and education. Through the SMART certification process, completed in May 2017, Komida established an effective system for monitoring and resolving complaints. Effective handling of complaints increases clients’ confidence and leads to improvements in the design and delivery of the products and services clients receive.
Bina Artha Ventura
Opportunity Bank Serbia
Serving more than 78,000 clients, Opportunity Bank Serbia (OBS) has grown rapidly despite increasing competition in a market that limited microfinance due to legal restrictions on lending. Receiving SMART certification in March 2014 affirmed OBS’s commitment to the “double bottom line approach,” which measures success by both financial and social performance. The certification also created a renewed sense of identity and increased company loyalty among OBS staff members as they gained greater understanding of their work’s value within the community.
Opportunity International Colombia
Opportunity International Colombia began its microfinance activities in 1971 and now has more than 13,000 loan and savings clients. Since its inception, it has been working to provide stable financial systems and solutions to reduce unemployment and social unrest within the country. Becoming SMART certified in September 2016 further established the bank’s commitment to improving Colombia’s communities and infrastructure. To comply with the certification process, the Board of Directors and Management now constantly monitor the quality of the credit portfolio and have taken action to avoid over-indebtedness. For example, they have reduced the size and number of loans issued where there were signs that clients could not repay loans.
ASKI has more than 103,000 loan clients in the Philippines and was SMART certified in July 2015. The institution is driven by a social mission of creating holistic, lasting transformation in their clients’ lives. ASKI works to not only support clients’ economic security, but also their physical, social and spiritual wellbeing and transformation. ASKI has worked diligently to update its pricing policies and to heighten transparency about their service fees. Going through the certification process has helped them outline ethical practices and learn better ways to engage with their clients.
Cashpor was client-protection certified in January 2013 and serves more than 850,000 clients at more than 500 branches. It identifies impoverished women in rural areas and motivates them to take charge of their financial futures by offering access to honest and efficient financial services that go beyond microcredit. The certification process strengthened Cashpor’s policies around over-indebtedness. The Board and Senior Management now only consider expansion into areas where clients have limited access to other sources of finance. This ensures that Cashpor is only providing additional debt where it can be safely handled by the clients.
Client numbers shown are valid as of March 2017