The issue
We aim to be a leading provider of simple, fair and transparent financial products and services. Our future as a business - and our reputation - depends on us operating responsibly at every level.
Home credit is a unique and different way of offering loans and so it’s important that our stakeholders understand the model and its important role within the consumer credit market and wider community. Our customers welcome a legal and responsible lender that offers simple, transparent products and services. We work to improve people’s understanding of the company and to demonstrate that we behave responsibly across all areas of our business, especially in our relationship with customers.
What we're doing about it
- We have a clear vision and values, and business principles that define the way we put these values into practice.
- We identify the key issues for the business and our stakeholders and ensure that appropriate processes and standards are in place to manage them.
- We have a formal framework in place to identify, assess and manage risk.
- In 2007, we set three-year commitments for the Group which ran to the end of 2010. These addressed our key issues and supported the growth of the business. We asked consultancy Corporate Citizenship to review how we performed against these objectives and to identify areas for further development.
- In 2011 we have launched our new sustainability objectives which will run from 2011 – 2013. Each business is responsible for developing individual goals and management plans to meet these commitments. The objectives are a statement of intent in integrating Treating Stakeholders Fairly into our business.
- We've set out clear Customer Principles to guide the business and are voluntarily aligning our business to the Financial Services Authority's Treating Customers Fairly (TCF) principles. As part of this work we launched our Customer Charter which aims to clearly communicate to customers what level of service they can expect. We've also launched an Agent Charter given the key role our agents play in achieving TCF.
- A proactive community investment programme which focuses on social inclusion and financial literacy; addressing a real risk for the business by helping to create a market of well-informed consumers.
- We are proactively involved in public policy discussions, contributing to EU consultations and welcome well informed financial regulation.