Challenge
Individuals and businesses should have access to useful and affordable financial
products and services that meet their needs – transactions, payments, savings,
credit, and insurance – delivered in a responsible and sustainable way. (World Bank,
2021). The challenge is the mechanisms by which this can delivered and achieved and
how to progress towards reducing poverty and boosting prosperity for all. This will
require working with financial service providers, including developing innovative
new ways to reach those in need. Central banks and regulators will also play a
significant role in encouraging the markets and regulating where their is market
failure.
Strategy
Our strategy and core competency lie in assembling and managing highly qualified
multi-disciplinary teams and engaging with a range of public, private sector,
non-governmental and citizen stakeholders for timely and quality completion of
projects, TSC Global's specialist "Financial Inclusion" group is comprised of
leading policy and regulatory experts, with experience in promoting functioning,
competitive markets. This is achieved by using appropriate policy interventions to
support private sector development, allowing competitive markets to regulate as much
as possible, intervening with appropriate regulatory measures when the market fails,
and the cost/benefit of intervention exceeds the impact of doing nothing. Our teams
have undertaken numerous diagnostic assessments of markets, including the bank,
MFIs, non-bank and capital markets. Our subject matter experts are supported by our
other experts as required.
TSC Global‘s standard methodology entails building
trustful relationships and helping to identify practical solutions for complex
problems that our team of experienced experts may face during project preparation,
and the implementation and delivery of high-quality results — often in tight
deadlines.
Transformation
As with any transformational
process we will develop a shared understanding of what needs to be developed
by identifying what each element of an overall goal can be achieved when,
over what timeframe, by whom, doing what. Careful planning is required. The
first Step taken in the process is as important as each of the other ones,
especially as it will lay out the initial plan and approach for the
transformation goal.
Our transformative governance process will examine:
- Accountability: making all the organs of government accountable
for the performance of functions.
- Participation: unerstanding that people are the key to good
governance - not only the beneficiaries of good governance but also the agents
of it.
- Transparency: moving from the traditional secrecy in governance
to sharing of relevant and appropriate information.
- Effectiveness and Efficiency: effective and efficient service
delivery from the organisation being governed.
As part of our process we will focus on:
- Identifying and building: on the achievements of our previous
work and knowledge in the area.
- Promoting broad participation: Through our research process and
stakeholder engagement, we will identify the challenges, needs, hopes and
aspirations of various stakeholders.
- Engaging in and maintaining quality communications: by ensuring
that our consultants work in very close cooperation with each other and our
counterparts.
- Ensuring the transfer of knowledge: by providing focused and
informative advice and stakeholder engagement that not only address the issues
but include practical means to resolve any issues arising as they happen, and in
the design, and the application, for future projects.
Financial
Inclusion Project Examples