IFC report pushes FinTech firms to reach women in emerging markets.

TLDR:

• IFC report urges FinTech firms to target women customers in emerging markets for financial inclusion
• Fintech firms could capitalize on the women’s market while contributing to greater financial inclusion for women

In a new report released by the International Finance Corporation (IFC), it is urged that FinTech firms should intentionally target women customers in emerging markets to achieve greater financial inclusion. The report, titled “Her Fintech Edge: Market Insights for Inclusive Growth,” highlights the potential for FinTech firms to serve women customers effectively. Despite women making up a minority of FinTech portfolios currently, there is a strong business case for targeting this demographic. The survey conducted by IFC reveals that women are considered more loyal, less risky, and equally valuable customers compared to men by the majority of lending-focused FinTech firms. The presence of leaders who prioritize serving women is also crucial in driving firms to intentionally target women. To fully capture the women’s market, FinTech firms need knowledge, research, financial support, and technical assistance. Overall, there is a significant opportunity for FinTech firms to make a positive impact through targeting women in emerging markets for financial inclusion.