We contribute to an inclusive financial ecosystem
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.
Press selected goals in the table below to read more about our activities in 2021. Find the progress tracking for our indicators 2021 in the Sustainability Reporting Section.
Find our goals for 2022 in the Sustainability Startpage. Read more about our SDG goals and targets and UN Global Compact Principles on our website.
|Our Goals 2021||SDGs||Our Indicators 2021||UNGC Principle||Selection of Governing Documents|
|Business partner satisfaction||80% of client banks will rate Hoist Finance as top three in the market.||Principle 1, 2, 10||Code of Conduct, Sustainability Policy|
|Excellence in customer experience||Implement CSAT in three customer touchpoints in all markets and all segments. Have a CSAT dashboard in place by end of year.||Principle 1, 2, 10||Code of Conduct, Sustainability Policy|
|Digital channel development for improved servicing||Principle 1, 2, 9||Code of Conduct|
|Forming external collaborations with organisations that have new innovative ideas for increased financial inclusion||Establish 1-2 impact partnerships.||Principle 1, 2, 10||Sustainability Policy|
Petra supports Team U to create shared value for Hoist Finance
Team U is a social enterprise based in Germany. Their objective is to support SMEs in financial difficulties through preventative care, crisis support, and recovery. Hoist Finance and TEAM U entered a partnership in 2020 where Hoist Finance supported Team U in building a digital platform to achieve a nationwide reach. Part of the objectives with our partnership has been to support Team U in their development by sharing our know how in working with the SME segment and at the same time for Hoist Finance to gain a deeper understanding of the target group from Team U. During the year we have advised our customers in need of additional support to contact Team U for coaching, which led to cases where Team U helped Hoist Finance’s customers to find a sustainable solution to their situation and arrange a payment arrangement with us. In 2021, Hoist Finance furthermore supported Team U to hire their volunteer Petra.