The Importance of Education

Women of all ages and income groups are behind when it comes to understanding finances. Women also face business knowledge gaps. This panel explored innovative approaches banks are taking to plug these gaps while creating tremendous value for their business.

Key Points

• The important issue for SMEs is doubling their turnover in the first three years of operation – otherwise they will not survive. To do this they need support.
• Best Practice banks are providing access to training, one-on-one consulting, mentoring, incubators and accelerators, either through strategic partnerships or in-house.
• Facilitating communities of start-ups, providing high-speed video conferencing from branches to subject matter experts and setting up “Innovation Challenges” are some ways banks are deepening their value propositions.
• Providing specialized education to front-line staff so they become “certified” SME experts embeds consulting capability in the bank and differentiates it in the market.
• Women pay it forward: 90% of 10,000 Women graduates continue to mentor other women.
• There are several touch points – online, via social media and in-person. Events are important: When you bring people together, they do business together.