Women make or influence a majority of purchasing decisions, including where to bank and where to invest.
Women around the world are gaining control over financial decisions as their accumulation of wealth continues to rise.
Women are starting and growing businesses at significant rates.
Women’s wealth will continue to rise as the female population worldwide continues to become more educated and enter high-paying careers.
According to a Boston Consulting Group study, there was a 200% increase in the number of women in the global workforce between 1980 and 2008.
The World Health Organization has found that women live about 5 years longer, on average, than men do. On the scale of the global population, that translates to more than 18 trillion additional years of wealth creation.
The vast majority of women globally – 73% – reported being unsatisfied with their financial services providers, according to Boston Consulting Group findings.
Women are 15% less likely to have a bank account at a formal financial institution than men are, according to the WorldBank's Global Findex database.
Women save their money at a greater rate than men do, providing banks with a reliable source of liquidity.
According to Chilean government data, the number of savings accounts owned by women has grown at more than 3x the rate of men’s over the past decade.
Women tend to be more risk aware than men, making them more likely to only borrow what they can repay.
Data from GBA member BLC Bank shows that the average profit margin for SME loans to women is 15% higher than that of loans to men.
Not only do women stick with an institution that treats them well, they make a point of recommending it to others.
Research from marketing expert Marti Barletta suggests that women are 4x more likely than men to tell others about a negative service experience.
When they are satisfied with a financial institution, women buy more products per customer than men do.
According to research from the Marketing 2 Women Conference, women have either full or partial ownership of 89% of bank accounts in the US.
The revenue from one major GBA member bank’s Women’s Market program makes up approximately 60% of its total retail and business banking revenues.
34% of private sector leaders report increased profits as a result of their efforts to empower women in emerging markets.
The non-performing loan rate for GBA banks’ women small-business customers is only 2.9% — 43% lower than the rate for men.
Research from GBA members has shown women have a lower product churn rate than men, at 15% vs. 21%.
“Women are 50 percent of the population, so if you say there’s no business case,
you’re clearly getting your sums wrong.”
“We were surprised at how big a market this is for financial institutions.”
“Women make the vast majority of consumer purchase decisions,
and more and more women are growing businesses
that are very successful.”
“We are absolutely convinced, as a bank, that
there is a very good business case for serving the Women’s Market.”
“I see becoming the Bank of Choice for Women as a long-term strategy
integral to our core business, not just an add-on.”