Products, Partnerships & Milestones

Mary Ellen Iskenderian, President & CEO, Tom Jones, EVP & COO, Women's World Banking explain various factors that make financial products meaningful to women:

Manoj Agrawal: Describe 2 or 3 specific

financial products and their target

customer segments that have the highest

rate of adoption by women customers

among the lending partners that Women’s

World Banking (WWB) works with.

Mary, Tom: Women across markets require a variety of financial products to meet their needs. Women’s World Banking develops solutions to enhance products including banking accounts, business loans, digital payments services, and insurance.

For accounts, it is critical to not only ensure women can open accounts in their own name, but that they have the knowledge, capability, and incentives to use that account. When developing solutions to encourage account activation, financial service providers (which can include lenders, commercial banks, fintechs, or others) typically target existing women customers who have an account but it is dormant or only used to receive government payments.

Women-led MSMEs require credit to sustain and grow their businesses. By tailoring credit products, alongside a relationship banking model and/or business development services, financial service providers can better reach and engage this under-served segment. Relationship banking involves building long-term relationships with clients to understand their needs better, while business development services include training, mentoring, and support to help businesses grow and succeed. These nonfinancial services are crucial as they provide the necessary support and guidance that can significantly enhance the chances of success for women-led MSMEs.

Women, especially migrants (both domestic and international), need ways to safely and securely send money. Financial service providers can ensure that lowincome women have the digital and financial capability to use digital remittances, offering lower cost and more convenient ways to send money to friends and family.