CRESUS Hub for preventive detection and coaching of the indebted: We can break the spiral of overidebtness!
Example: Walk us through a specific example(s) of how this solution makes a difference; include its primary activities.
Spread Strategies: Moving forward, what are the main strategies for scaling impact?
Marketplace: Who else is addressing the problem outlined here? How does the proposed project differ from these approaches?
Team
Laser Cofinoga S.A
>1000
Philippe
LEMOINE
Président-directeur général de LaSer
France
, A67
New products & services: Entries in this category develop and offer essentials product and services that address needs currently unmet.
Prix Convergences 2015 (http://www.convergences2015.org/fr/Article?id=151) - Finalist of the schwab foundation
-Partner 1
Type of partner : business
Bank/Insurance company whose customers are facing financial and social issues (Exemple : LBPF, MAIF MACIF, LASER COFINOGA, BNPPF, COFIDIS, CACF…)
Key motivation to participate in the co-creation project
Better risk management, customer knowledge. Improved debt recovery and sustainable alternative for free willing customers, accepting financial chattered and processed coaching. Tax breaks and benefits, CSR politic and sustainable development R&D. Integrate skill improvement through training.
Key contributions in the co-creation project
Mutual process and products co-building trough regular operational update and reporting, services mirroring, financial support (annual basis support + ticket per customer transmission)
-Partner 2
Type of partners: business
Short description sentence:
Companies or institutions whose co-worker are facing financial and social issues (HSBC, Laser Cofinoga, Banque Carrefour, la Poste…)
Key motivation to participate in the co-creation project
Out-sourcing of financial and administrative of unique skills and expertise. Tax breaks and benefits, CSR politic and sustainable development R&D, answer for human resources (HSBC, Cofinoga, Banque Carrefour, la Poste…)
Key contributions in the co-creation project
Integrate skills improvement trough training and regular reporting, financial support (annual basis support + ticket per co-worker transmission)
Partner 3
Type of partner : business
Short description sentence: Companies or institutions whose products and services are needed by the cared households.
Key motivation to participate in the co-creation project
Out-sourcing of financial and administrative of unique skills and expertise. Interest for our database as Marketing study field for new product and services. Tax breaks and benefits, CSR politic and sustainable development R&D, answer for human ressources. (Example: Total, Renault, Bankin’…)
Key contributions in the co-creation project:
Integrate skills improvement trough training and regular reporting, discounts and needs matched products for the cared households. Financial support.
Partner 4
Type of partner: Public
Short description sentence: Institutions who are in charge of cared households.
Key motivation to participate in the co-creation project [Max 35 words/partner] Out-sourcing of financial and administrative of unique skills and expertise. Interest for our database for (CCAS, FDJ, social services)
Key contributions in the co-creation project: Integrate skills improvement trough training and regular reporting. Financial support.
Every coached household becomes a common success for everyone, and became a vibrant testimony of our impact. Our former successfull incared indebted are the best garantee for reknown, they even help us and get involved as changemakers. Even creditors are positively impacted economically and socialy
Societal Impact :
More people are able to improve their financial health (63-80% of Cresus beneficiaries are able to Sustainably overcome over-indebtedness)
Better knowledge and information of an ever changing problem, in order to aim and avoid resources wastes.
Strategic and pragmatic solution for former excluded households
Job creation and sense giving organization.
Economic Impact
Reduction of the number of nonperforming loans and better management of debt situations with clients
Responsible credit provider strategic co-building
Significant public savings linked to debt
Individuals, Foundations, NGOs, Businesses, Regional government, National government, Customers, Loans, Investments.
We work with our partner on an annual basis support + ticket per customer transmission. This allows us to control our work flow and ensure our sustainability. Our business model is actually safe and our biggest challenge is to perfect it, and face our structural development needs (new buildings, cost saving equipment, IT…). General economics is pushing us to a development plan, and we are far from reaching the climax of the "market" needs
It all began, with a meeting with former minister Christine Lagarde and Jean Louis Khiel in 2008, failing to impose a credit register, Jean Louis Khiel decided to get in touch with banks in order to find an alternative way to prevent overindebtness. The success of this first step toward creditors, became an astonishing and unique business model.
The CRESUS Preventive detection Hub and coaching service for fragile customers” project started in 2009. “Banque de France” instructed 130, 000 new indebtedness plans/year, for an average of € 41 K, 250 million € global losses. No credit registration existed and there was no alternative than “aggressive” debt-recovery. The original idea was to support households through high quality counselling, in a win-win proactive partnership with lenders. It all started with one partnership (LBPF) and one co-worker.
As pionneer and novative structure, we had first to face general scepticism, our courageous first partners where however contaminated by the enthousiasm of our leader and team. As experimental, we started small, but facing success our real challenge was to maintain high quality standards, coping with growing needs from our partners, and new ones appealed by our first successfull coachings. We had to create everything on the run, IT, structure and legislative environement. Resolve problematics about cultural gasp between banking and social ethics, bank secrecy and customer confidentiality. Had to adapt too the needs of our incared and partners, in order to cope without failing in a risky human and financial context. Moreover in 2009 we didnt have enough knowledge about who where the households who fitted in a preventive action. We had many doubts but couldn’t afford to despair.
The type of relationship depends of the implication willingness of the partner. It often starts with a contractual relationship (e.g. : Intrum Justitia, Franfinance) , that then leads to co-construct joint project (La Banque Postale “Club Initiative” and “L’Appui”) and happens to get into joint-ventures (Dilemme).
No support is accepted without trade or minimal co-working, thus to guarantee our independence and neutrality. And everyone in CRESUS, even the President, has its own portfolio of in cared households. We are proud of our hard earned skills and knowledge, and share it freely to whoever asks for our expertise about the subject. Moreover we are specialised and we only deal with indebtness. Our opening and willingness to share, allow partnering organization to share our bottom of pyramid point of view. We also encourage intensive immersive session for our partners managers and “abilities patronage” programs (3 Allianz Sopex).
ASHOKA