Fintech and digital financial services have been considered a game-changer for women’s financial inclusion and economic empowerment, says the IFC. However, a survey of 114 fintechs in emerging markets around the globe spotlights what more they can do. The majority of those surveyed consider women to be more loyal, less risky, and more or equally valuable customers than men. Specifically, 69% of lending focused fintech firms believe women’s loyalty is greater than or equal to that of men. Yet, 63% of these lenders report that women-owned SMEs make up less than a quarter of their portfolio. The IFC suggests that fintechs should analyse sex-disaggregated data to shape their business strategies and improve their bottom line as well as women’s financial prospects. Emmanuel Nyirinkindi, VP, cross-cutting solutions, IFC, says: "What is clear from this study is that strong behavioural gender differences, as well as barriers, call for fintech firms to offer differentiated solutions for women. "In doing so, fintech firms can unlock the full potential of the women’s market - a valuable customer segment that exhibits greater loyalty, lower default rates, and strong revenue generation."

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