This business line offers financial products and services under 5 global brands, both directly and via the Group's different networks and partners.
Educating and raising the awareness of our customers in order to avoid situations of overindebtedness
To offer services that protect people experiencing hardship, support them, and empower them.
The Societe Generale France network is necessarily affected by the phenomenon of overindebtedness and, since 2004, has the resources necessary to identify this customer category in order to offer it responsible treatment of these files. Having entered into effect in November 2010, the law governing consumer credit has altered the regulatory framework for overindebtedness without radically changing the procedures in place within Societe Generale, which has always been a pioneer in the field.
Societe Generale wants to secure consumers while protecting people experiencing hardship and empowering them. The Group also wants to promote to its customers means adapted to each of them in order to facilitate financial inclusion.
The Group pays particular attention to financial education and overindebtedness of its customers.
Aware that sensible use of banking products and service involves financial education and the provision of clear information about its products and services, Societe Generale deploys in its establishments and subsidiaries tools to improve the level of financial education of customers.
Within the subsidiaries specialising in consumer loans, initiatives for financial education and improved transparency of services and information delivered to customers are developing.
In addition, in France, Societe Generale has a network of 2,300 branches and is necessarily concerned with the problem of overindebtedness, which affects nearly 765,000 households in France as of the end of 2012.
Since 2004, Societe Generale has had the resources necessary to identify this customer category in order to ensure responsible treatment of these files.
Having entered into effect in November 2010, the law governing consumer credit has altered the regulatory framework for overindebtedness without radically changing the procedures in place within Societe Generale, which has always been a pioneer in the field.
In 2012, in France, Franfinance (as part of the Successful Lending” commitment) established initiatives to reinforce customer support: training actions for partner brands to improve their ability to sell and to explain credit, an online budget calculator allowing customers to assess their repayment ability, and an online educational section to inform customers about the various types of loans and how they work.
Other initiatives in a similar vein have also been developed in Poland, Brazil, Morocco, Vietnam, and Russia.
Since 2011, Societe Generale has experimented with measures to take care of vulnerable customers thanks to amicable negotiation platforms. It will spread to the entire network of branches in mid-2013.