By doing so, it will be possible to fulfill the promise of financial inclusion to advance gender equality and women’s empowerment, improve livelihoods, and spur economic growth.
Our research indicates that mobile financial services provide several benefits that can increase women’s use of formal financial services. Some of these benefits are convenience, safety, privacy, and access to more sophisticated services. But to realize these opportunities, women need to be connected to these products and services and trained on how to use them. Furthermore, companies must develop products and services that suit women’s needs specifically.
