Two years ago, the students of the\u00a0Haverford Microfinance Consulting club (HMFC) pivoted toward a focus on financial access issues here in the US and began considering the possibility of providing financial services to the local Philadelphia community. The\u00a0development of this\u00a0strategic direction has been facilitated by their engagement\u00a0with\u00a0Lend For America<\/a>, an organization devoted to support campus microfinance organizations.<\/p>\n In November 2014, MI3 supported 5 students from HMFC to travel\u00a0to San Fransisco for the annual Lend for America Summit to help the group in its efforts to provide funding for local entrepreneurs as a Trustee with\u00a0Kiva Zip<\/a>.<\/p>\n Summit participants included student microfinance groups from campuses across the US. The 5 students attending were Exec Dir Kayoung Lee (’16), Com Dir Jenna Kowalski (’17), Xizi (Daisy) Yuan (’17), Sitao Guo\u00a0(’18) and Siyan Wang (’17).<\/p>\n Below Xizi (Daisy) Yuan\u00a0’17 discusses\u00a0how to improve the effectiveness of communications with clients.<\/p>\n ****************************************************************<\/p>\n Good client communication is a big issue in the loan application process. In the session on this topic, speakers mentioned several points that require\u00a0attention in\u00a0our interactions\u00a0with the client.<\/p>\n First, it is critical to build the trust with the\u00a0client to start a long-lasting and effective relationship. To facilitate this, \u00a0we need to show our passion, patience, honesty and care at the very beginning of our\u00a0contact with the\u00a0client. And, of course, it is important to maintain\u00a0contact with the client, checking back on how they and the business are doing on a regular basis as a “professional friend.”<\/p>\n Second, know your client by paying attention to details. For example, in the case we considered in the session, we were able to learn\u00a0how often\u00a0the client attends\u00a0church, how many kids she has, her consuming habits, etc. In other words, we know almost everything related to her life. However, we need to keep in mind that all details are received based on the trust with the client.<\/p>\n In order to keep this trust, we need to build a\u00a0relationship with the client over time and need to consider\u00a0what we should say in different steps. In the initial interactions, \u00a0it is impolite and inappropriate to ask some overly personal\u00a0questions. Hence, every time we talk with our client, we need to ask ourselves\u00a0how far has our relationship progressed? Then, we\u00a0can choose\u00a0appropriate questions to ask.<\/p>\n Another thing we need to keep in mind is that when\u00a0we are seeking information, we can approach\u00a0it multi-dimensionally. We can use both logical analysis and emotional persuasion at the same time. Sometimes the responses may not be direct and it is important\u00a0to\u00a0listen to what he or she says carefully. When we continue to have difficulty in getting information, we should try to approach the client\u00a0 in another way. It may also be important to express the need for the information\u00a0thoroughly.<\/p>\n The last point is to stay\u00a0flexible. Change the mode\u00a0of\u00a0talk to be consistent with the\u00a0talk of the\u00a0client. And be natural, it is ineffective and inefficient to simply read the outline you have written. We should learn how to modify our talk with the client appropriately and immediately to increase the efficiency of communications.<\/p>\n – Siyan Wang \u201917<\/p>\n","protected":false},"excerpt":{"rendered":" Siyan Wang\u00a0’17 Discusses\u00a0Modes of Client Communication Two years ago, the students of the\u00a0Haverford Microfinance Consulting club (HMFC) pivoted toward a focus on financial access issues here in the US and began considering the possibility of providing financial services to the … Continue reading