Rewiring the system: Financial education as infrastructure, not isolated programs

• by Akhand Tiwari, Surbhi Sood, Bhavya Mitra and Srinivas Balakrishnan
• Jun 11, 2026
• 25 min
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This brief argues that financial education should be part of a broader financial capability infrastructure rather than a standalone solution. Lasting consumer welfare depends on stronger regulation, better product design, clear accountability, and effective grievance redress systems.

This brief reframes financial education as a supporting component of financial capability infrastructure rather than a primary consumer protection tool. Global evidence and MSC’s experience across 50+ countries reveal that financial education delivers modest but durable results when targeted, behavior-linked, and delivered at teachable moments. Meaningful consumer outcomes depend on structural interventions, such as product design, disclosure standards, provider accountability, liability frameworks, and effective grievance redress mechanisms.