Provident México, S.A. de C.V.

Mission:

Provident es una empresa dedicada a brindar soluciones financieras simples, justas y transparentes que siempre cumplen con los más altos estándares profesionales y de negocio.

Background and Main Challenges:

International Personal Finance es una empresa líder a nivel internacional en préstamos a domicilio ya que nuestra visión y estrategia de éxito es comprender a nuestros clientes ofreciéndoles productos financieros simples y accesibles, y lo seguiremos haciendo construyendo relaciones cercanas a ... Read more

Address:

Blvd. Hermanos Serdán No. 786 Colonia San Rafael Oriente

Puebla

Mexico

Phone:

01-2222-735373

Fax:

01-2222-735373

Email:

servicioalcliente [at] provident [dot] com [dot] mx

Website:

www.provident.com.mx

Products and Services:

Loans

Date established:

Jan 1 2003

FYE:

31-Dec

Current Legal Status:

NBFI

Regulated:

Social Performance Profile


+ Mission specifics
+ Target markets (ranked by importance)
Women	1
autoempleados	2
Clients living in urban areas	3
Clients living in rural areas	4
Adolescents and youth (below 18)	5
+ Development goals (ranked by importance)
Increased access to financial services	1
Employment generation	2
Growth of existing businesses	3
Development of start-up enterprises	4
Gender equality and women's empowerment	5
Poverty reduction	6
Improvement of adult education	7
Youth opportunities	8
+ Poverty targets
No specific poverty target
+ Governance
Has a formal board committee that monitors social performance
+ Range of products and services
+ Financial products and services offered
+ Credit products offered
Microcredit for household needs/consumption
+ Savings products offered
+ Compulsory insurance products required
+ Voluntary insurance products offered
+ Other financial products and services offered
+ Non-financial services offered
+ Enterprise services offered
+ Education services offered
Financial literacy education
+ Health services offered
+ Women's empowerment services offered
Women's rights education/gender issues training
+ Products and services targeting the poor
Products and services specifically designed to target the poor:
+ Social responsibility to clients
+ Client protection principles in use
The loan approval process requires evaluation of borrower repayment capacity and loan affordability. Loan approval does not rely solely on guarantees (whether peer guarantees, co-signers or collateral) as a substitute for good capacity analysis.
Internal audits check household debt exposure, lending practices that violate procedures including unauthorized re-financing, multiple borrowers or co-signers per household, and other practices that could increase indebtedness.
Productivity targets and incentive systems value portfolio quality at least as highly as other factors, such as disbursement or customer growth. Growth is rewarded only if portfolio quality is high.
Prices, terms and conditions of all financial products are fully disclosed to the customer prior to sale, including interest charges, insurance premiums, minimum balances, all fees, penalties, linked products, third party fees, and whether these can change over time.
Staff is trained to communicate effectively with all customers, ensuring that they understand the product, the terms of the contract, their rights and obligations. Communications techniques address literacy limitations (e.g. reading contracts out loud, materials in local languages).
Acceptable and unacceptable debt collection practices are clearly spelled out in a code of ethics, book of staff rules or debt collection manual.
The organization's corporate culture values and rewards high standards of ethical behavior and customer service.
A mechanism to handle customer complaints is in place, has dedicated staff resources, and is actively used. (Suggestion boxes alone are generally not considered adequate.)
Customers know how their information will be used. Staff explains how data will be used and seeks permission for use.
+ Cost of services to clients
Flat interest method
+ Social responsibility to staff
+ Human resources
Transparency on salary (a clear salary scale based upon market salaries)
Benefits (medical insurance, pension contribution)
Protection at work (safety, anti-harassment)
Equality (anti-discrimination, equal pay for men and women with equivalent skill levels)
+ Basis of staff incentives related to social performance
Ability to attract new clients from target market
Client retention/drop-out rate
Portfolio quality
Cobro semanal de la cartera
+ Social responsibility to the environment
This institution raises clients' awareness about environmental impacts
This institution trains/educates clients regarding environmental improvements
This institution identifies enterprises with environmental risk
+ Poverty measurement tools in use

Partnerships

Current
Name	Relationship
Prodesarrollo	Network Affiliation

MFI Report