At the 2023 Annual Summit, leaders from the global financial services sector shared how they are using data to create holistic customer value propositions (CVPs) for women.

Building Customer-Centric Women’s Propositions 

During a panel on Data Driving the CVP, Abiodun Olubitan, Group Head of Women’s Banking, shared how Access Bank is helping women access car loans by providing them with free driving lessons in addition to tailored financing. They developed this approach in response to market data showing a sizable gender gap in not just car ownership, but also drivers licenses, in Nigeria. 

Data insights were also highlighted as the basis for members’ women-centered insurance offerings. For instance, after finding that 40 percent of families in the Dominican Republic lack sufficient savings for health emergencies, MAPFRE worked with Banco BHD and Mastercard to develop an affordable health insurance product that has now been taken up by over 50,000 women customers at BHD. Similarly, internal data showing demand for tailored health insurance among 43 percent of its women customers spurred HBL to create its own offering, which now covers more than one million women in Pakistan.

Targeting Women with Green Banking Propositions

Next, the “Greening the CVP for Women” panel highlighted data as a crucial tool to address climate change, as well as to capitalize on opportunities at the nexus of gender and climate. In particular, the panelists noted how data is proving out the business case for building gender-intelligent green propositions.

Gabriela Quiros, Head of Sustainability for Banco Davivienda’s operations in Central America and Mexico, referred to women as “low-carbon influencers” and shared that women’s enterprises comprised 40 percent of green SME lending in El Salvador. BAC’s Head of Sustainability Zairy Leiton discussed the notable increase in women borrowers (from 25 percent to 32 percent) seen after adding fixed term electric vehicle loans exclusively for women. 

The importance of accompanying green financing with information and education was another key takeaway. ProCredit’s approach, shared by Management Board Member Amina Durmo, includes building a customized carbon calculator for SME clients, enabling them to set emissions goals and equipping relationship managers identify green products suited to their needs. 

While the panelists acknowledged complex challenges, such as measuring financed emissions, they stressed that sticking to the fundamentals of a solid women-centered strategy will help them deliver green banking to all customers. 

Building on Women’s Market Fundamentals 

This means building on practices that we know work, like tailoring products for women to drive growth. For example, Rosa Maruben, VP of Cards at Banco BHD, shared that thanks to the groundbreaking Mujer Mujer women’s card, women now comprise 50 percent of BHD’s cards portfolio. 

It also entails creating new paths for women to access funding and non-financial support. For instance, Sam Cooper-Gray, Head of Market Strategy and Engagement for HSBC Global Business Banking, discussed how HSBC is creating a network to connect female tech entrepreneurs with  high-net-worth women clients interested in becoming angel investors. 

And it means building strategic alliances based on a strong understanding of women customers’ distinct preferences. As Chiwala Shichilaba, Women’s Banking Manager at Stanbic Bank, remarked, “When we learn what women want to see from their financial services provider, then we are able to decide which partners to work with to deliver on cheaper funding, financial literacy, and business education.” 

Through practical examples, Summit attendees gained deeper insights on how to unlock the financial power of women and in turn, accelerate climate action. Anticipation is high for the continuation of these enriching discussions at the 2024 Summit, hosted by HSBC in London June 4-5. Mark your calendars now