MoneyMan has introduced a new position of the Commissioner for the Borrowers’ rights. The Ombudsman serves as a mediator in disputes between borrowers and the company: it controls compliance with the interests of clients who have already contacted MoneyMan, but are dissatisfied with the service. The Commissioner deals with providing consultations to users regarding their rights and opportunities of their legal support. For example, if necessary, it will prompt how to issue an appeal to the Central Bank.
The Ombudsman is also responsible for auditing internal processes and regulations of the company. The Ombudsman has all the powers and technical capabilities to resolve the dispute between the client and the company within 1-2 days, urgent appeals — within 1 day. Its decisions are binding on all employees of the company. The new position will reduce the number of customer requests to the Central Bank.
Borrowers can contact the authorized person through the special form “Protection of the borrower’s rights” on the company’s website in the section “Contacts”. The position of the Commissioner for Borrowers’ rights was presented at MoneyMan’s meeting with the Central Bank in June. The company provided the regulator with a roadmap for the introduction of a new position, which can be used as a successful case and scalable in the financial market of Russia.
Irina Khoroshko, CEO of MoneyMan: “The rights of customers should be a priority for any company, especially in the sensitive financial sector. When the borrower is dissatisfied with the work of the service, he sends an appeal to the self-regulatory organization or the Central Bank. Upon receiving the clients’ applications from regulator or SRO, we fully realize we could resolve them faster if they came directly to us. Almost all appeals are caused by misunderstanding between the company and the borrower. The new position will allow increasing the quality of customer service, the speed of feedback and increase the borrowers’ loyalty to the company. We hope that our experience will be in demand for other participants of the microfinance market.”