OUR MISSION: The GBA's mission is to propel the growth of women in business and women’s wealth creation, while generating superior business outcomes for member financial institutions.
New Women's Market Research Reveals Four Myths Banks Believe About the Female Economy
The Global Banking Alliance for Women, with the support of McKinsey & Company, has released a report revealing the common misconceptions bank leaders have about serving female customers. 30 senior bankers from around the world were interviewed as part of the study, and from those conversations, four commonly believed myths about the female economy emerged: Myth 1: Male and female customers are the same, Myth 2: All banks need is “feminized” products, Myth 3: There is no business case for serving women, and Myth 4: There is no data on gender.
The data that dispels these misconceptions, presented in the report, underscores the tremendous untapped potential that economically empowering women represents for financial institutions. At a time when banks are growing at just 3 percent annually in their core businesses, the study argues it is time to truly focus on this multi-trillion dollar opportunity.
GBA to Mobilize $4.3B for Women-Owned Businesses in Historic
Commitment to Clinton Global Initiative
In a groundbreaking Commitment to the Clinton Global Initiative, “Banking on Women: Scaling the Women’s Market Program,” the Global Banking Alliance for Women announces a plan to mobilize $4.3 billion in additional capital for women-owned businesses worldwide, substantially advancing financial inclusion for women across the globe.
The commitment, which 15 GBA members have signed on to, has three levels: 1) Proving the business case for serving women through first-of-its-kind sex-disaggregated data collection, 2) Scaling knowledge transfer to promote rapid adoption by additional banks, and 3) Leveraging partnerships. Through this, GBA and its members will support 900,000 additional women small business owners and their employees, and give 2 million additional women access to capital and financial services — a significant step forward in the fight for women’s economic empowerment.