The Centre for Financial Health recognizes the importance of creating impact with last-mile customers while maintaining a “test and learn” culture and building evidence base and learning for cross-country collaboration on financial health. The “test and learn” culture creates a space for entrepreneurs, fintech companies, financial institutions, innovation hubs and the likes to test alternative business models and out-of-the-box ideas. These innovations would be more than just digital technologies as socio-economic factors that play a role in one’s financial health will necessitate behavioural science ingenuities to optimize outcome deliveries more efficiently.
To foster such culture, the Centre implements i) Collaboration Studio for Solutioning innovation targeting specific customer problems; ii) South-South Collaboration to share knowledge between markets of the Global South and create opportunities for collaboration and partnership; and iii) Living Labs to drive and track impact through solutions and business models in a specific market and also to create the environment to scale.
Our work in innovation aims to drive evidence-based understandings of different segments and iterate solutions to make the business case more relevant and evident. The collaborative engagements also call for the adoption of financial health measurements frameworks that span public and private sectors.