Version 1.0
Prepared by: @Lorraine Sebata
Approved by: @Feli Capron
Reviewed date: 2025-07-24
Next review date: 2026-07-24
This Standard Operating Procedure (SOP) outlines the process for generating and providing client account information, including statements (for payoff or activity), reporting, refunds, and overpayment details, upon request. The purpose is to ensure clients receive accurate and timely information, promote transparency, and maintain efficient financial record-keeping.
This SOP applies to all staff within the Finance Department and any other authorized personnel responsible for providing client account information. It covers all active client accounts across all microfinance products.
Finance Officer (or designated staff): Responsible for generating, verifying, and distributing requested client account information. Handles initial client queries.
Finance Manager: Reviews and approves processes, addresses escalated client queries, and ensures compliance with this SOP.
IT Support: Provides technical assistance for the Loan Management System (LMS) and ensures data integrity and system availability.
Client: Requests and reviews account information, and raises any discrepancies or queries.
5.1.1 Upon receiving a client request for account information (e.g., a statement, payoff amount, activity report, refund status, or overpayment details), the Finance Officer will confirm the client's identity.
5.1.2 Access the client's account within the Loan Management System (LMS) to retrieve the requested data. This includes, but is not limited to:
For Statements (Payoff/Activity): Client name, loan ID, original loan amount, outstanding principal, accrued interest, fees, last payment date and amount, next payment due date and amount, and a summary of transactions for the requested period.
For Reporting: Specific data points as requested by the client (e.g., payment history, interest paid year-to-date).
For Refunds/Overpayments: Details of any processed or pending refunds, or information regarding overpayment balances.
5.1.3 Ensure the extracted data covers the specific period or information requested by the client.
5.2.1 Perform a quick reconciliation of the extracted data against the LMS to ensure accuracy. Verify key balances, payments, and charges.
5.2.2 Resolve any immediate discrepancies. Escalate significant issues to the Finance Manager and IT Support for investigation and resolution.
5.2.3 Prepare the information in the appropriate format (e.g., a PDF statement, a summary report, or a direct email response).
5.3.1 Generate the requested document or information:
Utilize the approved "Client Loan Statement Template" (Appendix A) within the LMS or designated software for statements.
For other requests, generate a clear and concise report or compile the necessary details.
5.3.2 Distribute the information:
Email (Primary Method): Convert the generated document to PDF (if applicable) and email it directly to the client's confirmed email address.
Client Portal (If applicable): If a secure client portal exists, upload the document and notify the client of its availability.
5.3.3 Document the request and distribution method in the client's record within the LMS or a dedicated log.
5.4.1 Upon receiving a client query regarding the provided information, the Finance Officer will investigate the discrepancy using the LMS records and archived documents.
5.4.2 Provide a clear and concise explanation to the client. If a correction is needed, process it in the LMS and provide revised information or a statement.
5.4.3 Escalate complex or unresolved queries to the Finance Manager for further review and resolution.
5.4.4 Document all client queries and their resolutions.
Client Loan Statement
Client Query Log
Loan Management System (LMS) records
All Finance Officers and relevant administrative staff involved in providing client account information will receive mandatory training on this SOP and related policies annually or upon significant revisions.
This SOP will be reviewed annually by the Finance Department in conjunction with the Operations Department to ensure its continued effectiveness, compliance, and alignment with business objectives and regulatory requirements.