Training of Counsellors of the Financial Service Providers

The ILO thorugh its PROMISE IMPACT Project is aimed to build the internal capacity of financial service providers (FSPs) through training of their account/loan officers.

Objectives

In assisting the partner FSPs to enhance their internal capacity in order to provide better services for their clients based on the client survey previously conducted, the project, in collaboration with ILO trainers will organize a training of counsellors. The training will be attended by 3 partner financial service providers.

Training of Counsellors aims to develop the capacity of account officers/loan officers to better understand and the same time provide valuable advice to their clients businesses.

Background

The PROMISE IMPACT project was initiated by ILO and SECO to promote sustainable and responsible financial inclusion for MSEs. And, at the same time the project aims to pilot test a business model to see whether “finance+” services from FSPs can result in promoting a double bottom line. In other words by improving or introducing a set of integrated services (financial and non-financial) can FSPs maintain or achieve greater profitability in the long-term while contributing towards greater economic and social impact at the client level.

In this regard, PROMISE IMAPCT aims to build the internal capacity in FSPs through training of their account/loan officers who interface with the clients on a regular basis. Normally, their core function is to market their services, make and collect loan payments. By building their technical capacity, the project will help them to become business counsellors so that they can train and advise their clients. The type of capacity building needed is determined after FSPs carry out client surveys to better understand the needs of their clients.

Subsequent to the completion of the FSPs client survey, the Promise Impact project will now assist the partner FSPs enhance its internal capacity based on the findings of the survey. Financial management and marketing are two areas where clients needed assistance to develop their businesses.

Several FSPs, in particularly, rural banks (BPR) and development banks (BPD) which are mostly state owned opted to provide business counselling. The BPRs and BPDs viewed that business counselling would be easier for their clients since it would be a one on one consultation and it’s considered as a more personal approach. As a next step, the project will prepare a series of Training of Counsellors for account/loan officers trained by ILO trainers.