Empower the Customer to Choose and Use Financial Services

Categories : Customer and Users of Digital Payments, Customer needs and HCD


Author: CGAP

Empowered customers, as defined in this paper from CGAP, are able to make informed choices, to use services that are of value to them, and to have greater control over their financial lives. By building trust and confidence through an interactive relationship, both providers and customers can benefit. It would be incorrect to equate this notion of customer empowerment with financial capability building and consumer protection. Effective consumer protection measures and financial capability interventions differ from customer empowerment, and also contribute to it.