In December 2018, FINCA Armenia UCO was awarded with the Smart Certificate for its continued adherence to the benchmarks for ethical standards in the treatment of clients, which were established by the Smart Campaign global initiative.

“FINCA is the first and, as of now, the only institution in Armenia to have received this high commendation for its responsible and ethical treatment of customers. This certificate affirms that the organization demonstrates full commitment to the Smart Campaign’s seven Principles of Client Protection, which are:

-    appropriate product design and delivery;
-    prevention of overindebtedness;
-    transparency;
-    responsible pricing;
-    fair and respectful treatment of clients;
-    privacy of client data;
-    mechanisms for complaint resolution.

Smart Certification is not only a notable achievement for FINCA UCO, but also an important event in the Armenian banking sector in general,” the company said.

“Smart Certification is recognition of our long-standing commitment to putting the customer interest first. As the first institution in the country to be certified, we are setting a new benchmark for client protection and helping develop a more client-centric environment in the Armenian market,” said FINCA Armenia CEO Hrachya Tokhmakhyan.

Smart Campaign, an initiative of The Center for Financial Inclusion at Accion, is a global effort to unite microfinance leaders around a common goal: to keep clients as the driving force of the industry. The Campaign’s Client Protection Principles were developed in 2008 and are designed to protect clients, businesses, and the industry as a whole.