In October 2022, we launched an extensive project to conduct data architecture diagnostic assessments in several countries across Africa and the Pacific. We conducted diagnostic assessments in Fiji, Malawi, Samoa, Ethiopia and Vanuatu. Together with UNCDF, we have worked closely with the central banks and financial institutions in these regions, and we have been able to assess the strengths and weaknesses of their data collection, analysis, and management processes. Our team of experts worked collaboratively with the central bank's staff, conducting a thorough review of their data architecture and policies, as well as extensive consultations with key stakeholders in the financial and economic sectors.
The assessment engaged central banks personnel and a wide range of financial service providers to map out entire supervisory data value chain which included the identification of data sources, data quality checks, and data management practices; identify areas of improvement in the current data architecture and recommend appropriate solutions.
The focus was on how financial service providers (FSPs) could improve and automate the process of reporting to the central banks, and how the central banks could improve processing, storage, analysis, and use of data for decision making and deepening financial inclusion
Our detailed report outlines the key findings of the assessment and provides actionable recommendations for improving the bank's data architecture.
These assessments are particularly valuable given the many challenges facing central banks in Africa and the Pacific, including limited resources and institutional capacity, which can make it difficult for them to implement effective data management policies and respond to economic shocks.
We believe that our diagnostic assessments will be a significant step forward in improving the overall central banks' data architecture, and promoting economic and financial stability in these regions. Our work is contributing to broader technological and operational stability, and we're proud to be playing a vital role in promoting sustainable growth and development in Africa and the Pacific.
With our innovative technology, we will revolutionize the way the central bank collects and analyzes data from six financial institutions in Ethiopia
We are working directly with selected FSPs to develop and pilot a roadmap for enhancing their capacity for GSPD to increase access to finance and digital inclusion for women.