SPI4 and SPI4 Alinus

MicroFinanza Rating offers the possibility to carry out the SPI4 audit and SPI4 ALINUS in combination with Social Ratings. MicroFinanza Rating was qualified by CERISE in February 2016, having successfully completed the qualification process. A SPI4 or SPI4 ALINUS conducted by a specialized rating agency offers the highest level of quality among the different types of SPI4 assessments.


The SPI4 is a social performance assessment tool for microfinance institutions. An Excel questionnaire, the SPI4 helps microfinance institutions evaluate their level of implementation of the Universal Standards for Social Performance Management, including the Smart Campaign Client Protection Principles. SPI4 also allows users with a specific mission focus—green, poverty, gender—to assess their practices, thanks to optional indicators that reflect the latest industry thinking in these areas.
SPI4 ALINUS is the sub-set of 68 SPI4 indicators selected by ALINUS (Aligning Investors due diligence to the Universal Standards), a group of investors and fund managers committed to using the Universal Standards / SPI4 in their investments.


High Quality

√ SPI4 validated at the highest level of quality available;
√ Two analysts;
√ Analysts with specific expertise in Universal Standards, built through social rating and SPI4 qualification;
√ In-depth understanding of the financial institution thanks to the analysis conducted for social rating and, if applicable, for Client Protection Certification or Financial Rating;
√ Analysis of all the USSPM, with detailed comments to support the scores assigned;

Low Cost

√ Small difference between the cost of a Social Rating and the cost of Social Rating + SPI4;

Time saved

√ Less time needed for the financial institution to obtain a high quality SPI4 audit for internal use and improvement, and for external reporting to the investors (SPI4 ALINUS);
√ Less time needed for the investor to validate a self-reported SPI4 since a high quality SPI4 ALINUS produced by an independent rating agency is already available;

SPI4 ALINUS is available as a service to investors for a single financial institution or as a rating reports subscription service for multiple financial institutions.

Eight out of ten MFIs from Africa who received an SPI4 audit from MicroFinanza Rating within the Regmifa project to improve SPM and Client Protection shared that “the gap analysis conducted with SPI4 was accurate and fair in terms of identifying the areas for improvement in my organization."
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Schermata 2016-02-25 a 10.54.20

 FI = Financial Institution


MicroFinanza Rating has conducted SPI4 as part of the Regmifa SPM project implemented in collaboration with CERISE and Positive Planet. MicroFinanza Rating analysts conducting SPI4 are included in CERISE list of SPI4 qualified auditors. MicroFinanza Rating commits to using the most updated SPI4 tool and the highest standards of quality, in agreement with CERISE.



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