270 mln women worldwide are excluded from day to day banking, report

Wednesday 1 July 2020 12:38 CET | News

UK-based fintech Paysend has released a report focusing on the empowerment of women in low-income countries through international money transfers.

The paper, entitled ‘Digital money for inclusion. How FinTech is supporting the empowerment of women’, uses data from the World Bank and several other sources to demonstrate the importance of the digitisation of money transfers for women in poor socio-economic situations. The white paper is part of Paysend’s educational series on the benefits of digital money, made particularly relevant given the importance of fintech to play a central role in a post-coronavirus world.

The main takeaways from the report are:
  • 270 mln more women than men globally lack financial independence; 
  • Infrastructure, cultural attitudes, and education are cited as the main reasons why;
  • Low income countries are particularly impacted by the gender imbalance in financial inclusion countries;
  • Data from World Bank points to the importance of money transfers for women in poorer socio-economic situations.

More: Link

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Keywords: banking, Paysend, fintech, UK, global, women empowerment, low-income countries, international money transfers, World Bank, digitisation
Categories: Banking & Fintech
Countries: World
This article is part of category

Banking & Fintech

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