Original alignment date: 2016
Metrics used to manage social performance for financial services providers.
The SPI5 is a free social performance audit tool for financial service providers developed by CERISE in collaboration with the Social Performance Task Force (SPTF), and other initiatives in the financial inclusion sector. The SPI5 helps financial service providers assess their level of implementation of the Universal Standards – a comprehensive manual of best practices for social performance management, which includes the Client Protection Standards from Cerise+SPTF's Client Protection Pathway.
The GIIN and SPTF teams partnered to advance harmonization between their standards and to act as a bridge between the financial inclusion sector and other relevant players in the impact investing market. The goal of harmonization is simple: spend less time on data collection and reporting and more time on improving practices, leading to high impact investments.
Specific IRIS metrics are aligned with the SPI5 social audit tool. These metrics enable investors and their investee organizations to purposefully use individual IRIS metrics that align with the SPI5 audit tool, facilitating stronger reporting.