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.
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 2.7% — 33% 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.”