The Opportunity

Poised for Growth

The female economy is the world’s largest, fastest-growing market.

Women are in control.

They’re influencing most household purchasing decisions, including where to bank and invest.

0 %
of buying decisions made worldwide (Deloitte)
$ 0 T
controlled globally as of 2020 (BCG)

Women are smart wealth accumulators.

They’re creating and controlling more of their own wealth.

0 %

of global wealth owned, 42% of it from their own salaries (BCG)
0 %

rate of growth in wealth, compared to 5.8% for men (HBR)
$ 0 T

in inherited intergenerational wealth by 2060 (Boston College)

Women are getting down to business.

They’re starting and growing businesses at significant rates.

0 %
of private businesses owned (World Bank)
0 %
increase in entrepreneurship rates over last 2 years (GEM)

Growth Drivers

EDUCATION

The female economy will continue to accelerate as women across the full spectrum pursue education and higher paying careers.

EMPLOYMENT

The number of women in the global workforce grew 200% between 1980 and 2008, according to Boston Consulting Group.

LIFESPAN

Women live an average of 5 years longer than men do, according to the World Health Organization. That translates to more than 18 trillion years of potential wealth creation globally.

Untapped Potential

The female economy is a bigger growth market than China and India combined. But the financial services industry is still only beginning to unlock its full value.

Women are Underserved

Most aren’t satisfied with the quality of financial services they receive.

73% are unsatisfied with their financial services providers (BCG)

71% are dissatisfied with service they receive from investment, insurance and credit card providers (BCG)

70% believe wealth managers should tailor their approach to women (BCG)

80% believe investment marketers don’t understand their needs (Deloitte)

Women are Unserved

And some don’t have access to financial services at all.

15% lower likelihood than men to have a bank account at a formal financial institution (Findex)

20% lower likelihood than men to have borrowed formally from a financial institution (World Bank)

US$1.7 trillion finance gap for women-owned micro, small and medium enterprises (World Bank)

68% of women-owned SMEs with credit needs are unserved or underserved (IFC)

A Win-Win Business Opportunity

Financial institutions can grow their profits by accelerating women’s financial power.

Women are strong savers.

They’re providing financial institutions with a reliable source of liquidity.

– Women are 16% more likely than men to save for future expenses (World Bank).

– Women in the UK keep 41% of their annual wages in savings, compared to 23% for men (Halifax UK).

– The number of savings accounts owned by women in Chile has grown at more than 3x the rate of men’s over the past decade (Chilean government).

Women are prudent borrowers.

They’re more likely to only borrow what they can repay.

– Members report 67% more non-performing small business loans for men (Financial Alliance for Women).

– Overall, women’s non-performing loans are 53% lower than men’s (Financial Alliance for Women).

– The average profit margin for SME loans to women is 15% higher than for men (BLC Bank).

Women are loyal customers.

They stick with institutions that treat them well. And they recommend them to others.

– Women value personal relationships highly and are more loyal than men to service providers (American Marketing Association).

– Women consistently give Alliance member Westpac higher Net Promoter Scores compared to men across all bank segments (Westpac).

– If a woman is satisfied with her banking experience she tells 9 other people about it (Westpac).

– Women are 4x more likely than men to tell others about a negative service experience (Marti Barletta).

Diversity and Inclusion

THE BUSINESS CASE FOR SUPPORTING WOMEN
INTERNALLY IS ALSO CLEAR:

- Companies with gender-diverse C-Suites are 21% more likely to have above-average profitability and 27% more likely to have greater long-term value creation (McKinsey & Company).

- Adding one more woman in senior management or on the corporate board leads to an 8 to 13 basis point higher return on assets (IMF).

- Teams are 158% more likely to understand their market when team members represent the end user (CTI).

- 57% of companies found that diversity and inclusion programs strongly impact customer satisfaction, and 69% found they improved brand image (European Commission).

The Results Back It Up

1 %

of an Alliance member’s retail and business banking revenue comes from women-centered financial offerings.

1 %

of private sector leaders see profits rise as a result of advancing women’s financial power.

1 %

average non-performing loan rate for our members’ female clients across all segments — 53% lower than the rate for men.

1 %

of customers at our member organizations are women — indicating room for growth.

What Members Say