Why?

Customer service is a key component of any business strategy because it facilitates trust between the consumer and vendor. Without it, customers are not likely to participate in the service or purchase the product. Financial education can be an effective way for financial service providers to improve their customer service.

Another motivation for implementing financial education programs and consumer research is to increase the uptake and use of financial services.

Financial capability development is the process of developing attitude, knowledge, skills, and self-efficacy of an individual which he or she needs to make and exercise money management decisions that best fit the circumstances of one’s life, within an enabling environment that includes, but is not limited to, access to appropriate financial services.

Consumer advocacy refers to the activity of advocating on behalf of consumers. Advocacy can take many forms, from political lobbying, to grassroots mobilization, to “showing by doing.” MFO does not participate in overtly political advocacy but, through its programs it demonstrates the willingness and ability of consumers to develop their financial capability.