Have you ever thought how strange it is that financial solutions for women should be marketed in pink? Or what financial services firms are missing by not fully meeting female customers' needs?
Get the answer and find a first overview of the ecosystem of fintech for women in this study by EWPN in partnership with Keen Innovation. The report, “Female Finance: Digital, Mobile, Networked”, was produced by EWPN Research Leads Dr. Erin B. Taylor and Dr. Anette Broløs.
Around the world, an increasing number of financial service offerings are designed for (and by) women. We provide a first overview of such solutions. We point to some differences from traditional financial services and relate them to existing research.
We find factual reasons (income, expected lifetime, education and more) why women might look for different solutions than men. We also find some other priorities. Women value narratives that help them conceptualize how financial services will help them manage. They look for solutions that target their life situation. Women value the possibility to handle their finances along with other people they trust – in a community. There is also a learning aspect dominant in many of the offerings that we studied, either in the form of blogs, interviews, events, e-courses or academies.
We hope that this overview helps both industry and researchers to better understand why women’s needs and life contexts must be taken into account when designing financial services. We also point out the need for further research.
Download the report here.