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7 out of 10 lending firms prefer women.

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TLDR:

  • IFC report highlights the importance of fintech firms in advancing financial inclusion for women
  • Survey findings show that 7 in 10 lending firms believe women are equally or more loyal than men

A new report by the International Finance Corporation (IFC) reveals that fintech firms have a crucial role to play in advancing financial inclusion for women. The report, titled “Her Fintech Edge: Market Insights for Inclusive Growth,” surveyed 114 fintech firms in emerging markets around the globe to gather insights on their perceptions and practices in serving women’s customer segments.

The survey findings show that while women still make up a minority of fintech portfolios, the majority of lending-focused fintech firms believe that women are more loyal, less risky, and more valuable customers than men. In fact, 69% of lending-focused fintech firms reported that women’s loyalty is greater than or equal to that of men.

The report emphasizes the need for fintech firms to offer differentiated solutions for women in order to fully capture the women’s market. This includes knowledge, research, financial support, and technical assistance to effectively target women as potential customers.

Overall, the report underscores the importance of gender diversity and inclusion in the fintech industry, as well as the immense opportunities that exist for fintech firms to tap into the women’s market and drive inclusive growth in the financial sector.

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