Women's World Banking (WWB)
Women’s World Banking is the global nonprofit devoted to giving more low-income women access to the financial tools and resources they require to build security and prosperity. For more than 35 years they have worked with financial institutions to show them the benefit of investing in women as customers, and as leaders. They continue to equip these institutions with in-depth market research, with sustainable financial products and consumer education to meet women’s needs.
Women are typically good clients and reinvest in their families and communities. Yet women remain an underserved market—so they equip financial institutions around the world to serve them. They perform market research to learn what financial products and information low-income women need, and develop innovative, practical ways for institutions to do business with women.
What they do:
In order for more low-income women to have access to financial products than ever before, Women’s World Banking works closely with its global network of 40 financial institutions from 29 countries to create new credit, savings, and insurance products specifically designed for the unique needs of women.
Institutions in their network are committed to serving women as clients, innovators and leaders. Women’s World Banking has found new ways to help women build financial safety nets, by showing a broader range of financial institutions how to move beyond traditional microfinance to provide financial products that include savings and insurance.
But new products are only part of the story – innovations in technology have increased the number of women with access to financial products; and education has played a critical role in adoption of new products. Their approach to product design always starts with in-depth research – understanding the lives of women so that their product development team can design products that meet the needs of women while being sustainable for the financial institution. They work with the financial institution to ensure that their leadership and infrastructure are able to support both new product introductions and a potentially new market segment. Once a product is launched, they are able to take what they’ve learned and introduce the product to other institutions in other parts of the world. With this global reach, they are able to greatly increase the number of women who can build a stronger financial future for themselves and their families.