Consumer Protection Standards for Digital Credit Opened for Public Comment

The Consumer Protection Standards for Digital Credit were created in order to operationalize where the financial inclusion industry sets the bar in terms responsible digital lending practices. They build off of the Client Protection Principles and extend Smart Campaign’s current Client Protection Standards to encompass emerging risks to low-income customers of digital credit.

Based on the latest industry research, field assessments with digital lenders, and discussions with the Fintech Protects Community of Practice, these standards consolidate good practices and serve as a starting point for further industry discussions. Many of the standards for microfinance and non-digital entities remain relevant to the digital world, while others chart into new territory. Through the public comment period, Smart Campaign is seeking feedback on many of these new areas, such as cybersecurity and algorithm governance. While these draft requirements are framed for digital credit providers, they are relevant to all digital finance practitioners.

The feedback will be collected over the coming six weeks, ending March 22, 2019.

Read more on the CFI blog and Smart Campaign website.

Join the webinar to discuss the draft Consumer Protection Standards for Digital Credit.
Speakers: Smart Campaign’s Global Director Isabelle Barres, Senior Director Alexandra Rizzi joined by Lucia Spaggiari, Chiara Pescatori, and Ben Wallingford of MFR
📅 26 February 2019
🕔 5:00 PM CEST