Study: women underserved in m-banking
A study released by the GSMA mWomen Programme and Visa entitled, Unlocking the Potential: Women and Mobile Financial Services in Emerging Markets, shows that women in developing countries represent a significant underserved market and commercial opportunity for mobile financial service providers. The study, focused on women in Indonesia, Kenya, Pakistan, Papua New Guinea and Tanzania, was undertaken to gain additional insight into how financial institutions and mobile network operators can better support the complex financial lives of women at the base of the pyramid.
Around the world more than 2 billion people, the majority of whom are women, lack access to basic financial services. The study, led by Bankable Frontier Associates, found that women often also face an additional burden of having primary responsibility for managing the household finances. These resource-poor women must overcome numerous challenges in managing their finances: incomes are low, irregular and unpredictable, and formal financial tools hard to access.