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We All Win When She Saves

May 21, 2018

By Women’s World Banking

Unbanked women make up an untapped market of nearly one billion. Research has shown that women are natural savers but because they lack access to savings and financial tools, they are pressured to provide their income to family members rather than saving or investing it themselves.

Recognizing this gap in the market, like-minded organizations ExxonMobil, the Center for Global Development, TechnoServe, Vodacom and Mercy Corps launched an innovative pilot program to provide mobile saving accounts and business training to more than 5,000 entrepreneurs in Indonesia and Tanzania. The learnings in this program resulted in the launch of SheCounts earlier this year, a global platform powered by Women’s World Banking, the Center for Global Development and ExxonMobil to harness the power of the public and private sector to put new financial tools in the hands of women around the world.

In order to bring the opportunity of serving more low-income with digital savings to a broader audience, Women’s World Banking hosted a Twitter chat on Wednesday, May 16: We All Win When She Saves #SheCountsChat. We heard from three organizations about how they’re helping women build a better future through digital savings while creating a more sustainable business.

 

Why Savings Matters for Women

 

What We Know About Women

 

The Promise of Digital Technology

 

 

Research and Product Design Must be Women-Centered

 

It’s All About Gender-Disaggregated Data

 

What’s Next for Women’s Digital Savings

 

What’s next for SheCounts?

She Counts welcomes institutions that demonstrate criteria of a well-designed saving solution that enables women to overcome barriers in accessing and using savings products, such as doorstep banking, agent training, and marketing geared towards women’s pain points. Members are also required to provide gender-disaggregated data to track reach and women’s financial behavior.

 

If you are interested in joining:

 

She Counts works with financial services providers to put savings and financial tools in the hands of women, enabling them to save securely, invest in their business and transform their lives. More on SheCounts.com.

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