We also found that many providers offer “traditional” services (savings, investment, credit, etc.) embedded in other services such as advice, impact solutions, education, mentorship, and networks. Women seem to value these integrated services more than men because they provide a more personal and social approach to finances. Interestingly, there are an increasing number of networks, associations, and NGOs that offer services like learning and networks without actually offering traditional financial services— a new development in the market.
The values of companies that focus on women are also different from those catering to a broader market. The latter tend to focus on “value for money,” whereas the female-focused organizations focus on culture, empowerment, creativity, and freedom.
And so, providing female-focused financial services isn’t just about improving messaging or offering ‘wrap around’ services on existing offers. The majority of organizations that we studied designed their services for women from the outset, and many of them were founded— and led— by women. Many founders come with a solid background in financial services.