Pre-Certification

Definition

Pre-Certification is a certifier independent analysis of the gaps which need to be filled so that the financial institutions' policies and practices fully comply with the Client Protection Certification norms. The objective of the Pre-certification is to increase the likelihood of successfully passing a subsequent Certification. To do so, the Pre-certification helps aligning the internal policies and practices to the certification norms.

Benefits

Same team working with the MFI for pre-certification and for certification: effective communication, smooth process and reciprocal understanding of the client protection indicators and financial institution operations, facilitating the overall process;
Time available for the financial institution: to implement the changes in policies and practices needed to pass the certification, beside the other strategic priorities of the institution. Unlike certification, where the institution has 4 months after the issue of the report to implement the changes and get certified, the pre-certification does not have time limits within which the changes have to be necessarily made. The case of an institutions unable to make the necessary changes and not willing to undergo the certification process for some time;
√ Several options for the financial institution: it is up to the financial institution if and when to start the certification after a pre-certification is completed. Pre-certification is designed to help achieving the Certification. However, the case of an institutions which for some reasons does not fix the gaps and decides not to undergo the certification process is also possible;
√ Reduced cost of the combined pre-certification and certification process: lower total cost thanks to the synergies of the two exercise. The cost reduction is applicable if the certification is carried out within a year from the pre-certification.

Methodology

The tools, areas of analysis and indicators reviewed in the pre-certification and in the certification are the same. Please refer to the Certification areas of analysis for more details.
Pre-certification provides a detailed gap analysis and the level of effort to fill the gaps, an interactive presentation of the findings as well as a follow-up to monitor the progress made on the gaps (on request).

Login Form



copyright 2017 MicroFinanza Rating | web design: Manolibera | powered by Empsol