Our materiality matrix demonstrates that our stakeholders consider the customer dimension to be most material for Hoist Finance. In practice, this means treating customers fairly and with respect, and that we strive to understand their individual circumstances and the threat of them being excluded access to affordable financial services.
Financial inclusion is a growing pan-European challenge. Already before the pandemic, one third of European households were considered financially fragile and unable to meet unexpected expenses. When you are financially excluded, you often have no access to affordable financial services and it can therefore be challenging to build a credit record, open a savings account, meet unexpected changes, and even gaining an employment or a rental lease. Hoist Finance contributes to a healthy financial ecosystem by helping customers to get out of bad debt through customised support.
In practice, this means for example to provide customers with repayment plans that they can afford, improved digital solutions, setting practices to help especially vulnerable customers, and forming shared value collaborations to support customers. Our success in helping customers to get out of problematic debt depends on our ability to build trust. This requires a great amount of sensitivity and respect to what can often be a challenging situation for the customer. In all customer interactions, we therefore focus on meeting customers on their terms with the ambition to arrive at amicable agreements.
- Creating sustainable payment plans
- Supporting customers to get out of bad debt
- Client bank satisfaction
UN Global Compact
- Principle 1 - Businesses should support and respect the protection of internationally proclaimed human rights, within the scope of their influence
- Principle 2 - Businesses should make sure that they are not complicit in human rights abuses
- Pinciple 9 - Businesses should encourage the development and diffusion of environmentally firendly technologies.
- Principle 10 - Businesses should work against corruption in all its forms, including extortion and bribery.
Examples of initiatives
- Digital channel development - Customer Service Portals launched in 8 markets, NEO rules engine deployment, ChatBot, etc.
- Forming external partnerships - external partnerships established with e.g. Appjobs, TeamU, and Debout to help our customers find ways to be able to keep their commitments.