Financial Inclusion

The SPI4 is a free social performance audit tool for financial service providers developed by CERISE in collaboration with the Social Performance Task Force (SPTF), Smart Campaign, MIX and other initiatives in the financial inclusion sector. The SPI4 helps financial service providers assess their level of implementation of the Universal Standards – a comprehensive manual of best practices for social performance management, which includes the Smart Campaign’s standards for Certification on Client Protection. While the Universal Standards were originally created to help standardize social performance management for microfinance institutions, the manual applies to inclusive financial service providers broadly. Further, given the emphasis within the SPI4 and the Universal Standards on clear definitions of social goals, client-centered products, strong governance practices, and comprehensive consumer protection, these resources can be useful to institutions operating in many other sectors.

CERISE is a non-profit service provider that works with financial institutions, networks, TA providers, and investors to support their social strategy and promotes ethical practices in microfinance, social business, and rural finance. SPTF is a global membership non-profit organization working in the inclusive finance sector to advance social performance management – a management style that puts clients at the center of every decision and helps organizations effectively translate their social mission into practice.

The IRIS and SPTF teams have partnered to advance harmonization between their standards and to act as a bridge between the financial inclusion sector and other relevant players in the impact investing market. The goal of harmonization is simple: spend less time on data collection and reporting and more time on improving practices, leading to high impact investments.

The IRIS metrics listed below are aligned to varying degrees with the SPI4 social audit tool. These metrics enable investors and their investee organizations to purposefully select IRIS metrics that align with the SPI4 audit tool, facilitating stronger reporting.

IRIS Metrics Aligned to the SPI4 Indicators