Avoiding gender stereotypes in financial product design

Fintech’s $10 Trillion Blind Spot: Women Fintech claims to be innovative, but there’s still one big oversight: women control $10 trillion in U.S. financial assets and make 80% of household financial decisions—yet financial products are still mostly built for men first. The facts: 💸 Most investment platforms focus on high-risk trading, despite studies showing women outperform men in long-term investing. 🏡 Mortgage models assume a male-led, dual-income household—even though women are now the largest group of first-time homebuyers. 📉 Financial planning tools rarely account for career breaks, part-time work, or alternative income streams. The next wave of fintech leaders won’t just "include" women—they’ll design for them from the start. At beatvest, we’re showing that this works: 50% of our users are women, 50% are men—a rare gender balance in fintech. When you build financial products for everyone, you tap into a much bigger market. Win-win.

What does it really mean to view financial health through a gender lens? Through our work in Mexico with the FinnSalud program, we learned it's not just about product counts or balances, it's about the real-life experiences of women as they save, borrow, and build resilience. Women participate more, save consistently, repay better, yet they receive smaller loans, have fewer investment options, and feel less financially secure. Based on the data and the stories, we focused on gender-intentional design, working with credit unions to reshape how financial health is understood and supported. Some of the results came from simple but deliberate shifts: ✅ Scripted nudges that doubled women's savings ✅ Tools to map customer journeys by gender ✅ Organizational audits that surfaced blind spots in service delivery The results were insightful: better outcomes for women and stronger portfolios for institutions. This blog shares the frameworks, findings, and practical steps financial providers can take to close gender gaps and unlock women's full financial potential. It's a blueprint we hope others across the sector will adapt and build on. Read the blog: https://lnkd.in/daVhxkdh Nelly Ramírez Moncada Marco Antonio Del Río Chivardi

Bridging the Gender Gap in Financial Inclusion: Why Financial Institutions Must Rethink Women’s Access to Finance Despite the remarkable progress in global financial inclusion, women remain the largest underserved group in the financial ecosystem. A recent World Bank-CGAP report “Advancing Women’s Financial Inclusion” outlines how financial institutions can close this persistent gap by embedding a gender perspective into governance, management, products, and communications. But why does this matter? Because financial exclusion is not just a social issue it's a missed economic opportunity. Key Gaps Identified Leadership Gaps: Women are vastly underrepresented in decision making roles within financial institutions. Bias in Product Design: Financial offerings often fail to consider women’s informal work, caregiving roles, or security/privacy concerns. Lack of Data Disaggregation: Very few institutions collect or use gender disaggregated data to guide decisions. Training Gaps: Staff across levels lack awareness of gender biases and inclusive practices. Poor Market Segmentation: Financial institutions treat women as a homogenous group rather than designing for specific archetypes (e.g., rural entrepreneurs vs. urban professionals). The Solution: A Gender-Inclusive Strategy Framework The report proposes 10 actionable guidelines spanning board governance, management reforms, staff engagement, product design, and measurement. Key steps include: At the Board Level Mandate gender inclusion as a strategic priority. Ensure representation of women in leadership. At the Management Level Appoint a gender policy champion. Integrate sex-disaggregated KPIs in decision-making. Allocate budgets and incentives for gender mainstreaming. At the Staff and Product Level Conduct unconscious bias training. Build gender differentiated product portfolios based on actual user needs. Adapt communication styles and channels to remove stereotypes and increase accessibility. On Measurement Implement self-assessment scorecards. Use quantitative and qualitative metrics to track progress and ensure accountability. Way Forward must be Transformative, Not Just Transactional To move beyond tokenism, institutions must aim for transformative inclusion, not just gender sensitive tweaks. This means shifting power structures, redesigning legacy systems, and measuring what truly matters. Financial inclusion for women is no longer a “nice to have” it's a business imperative and a development necessity. For financial institutions, this is the time to walk the talk: integrate, invest, and innovate for gender equity. The question is not if we should include women it’s how fast we can redesign systems to do so meaningfully. #FinancialInclusion #WomenEmpowerment #GenderLensInvesting #InclusiveFinance #PublicPolicy #DevelopmentFinance #Leadership #ImpactBanking Astittva Welfare Foundation

We’re about to witness one of the largest transfers of wealth in modern history. By 2030, women in the US are expected to inherit an astonishing $30 trillion in wealth. This monumental shift isn't just a number. It’s a call to action for the financial industry to rethink and redesign financial products that TRULY cater to women's unique financial journeys. Think: ❌ Jargon & Abbreviation-Free Communication The financial industry is notorious for its unnecessarily complex jargon, which can alienate those not well-versed in its language. Which is often the result of bias and systemic barriers. ❌ Shaming-Free Financial Education Many women are already confronted with the stigma around discussing money. Financial services should be a safe space to learn, ask questions, and make informed decisions without fear of judgment. Yes, I’m looking at you, Dave Ramsey! ✅ Accounting For Caregiving Breaks Financial products need built-in flexibility for career breaks, ensuring that women can pause or adjust contributions without incurring penalties, keeping their long-term financial health intact. (e.g. specialized investment accounts for caregivers, credit systems) ✅ Addressing Longer Life Expectancy Women live longer, which means they face more years of healthcare costs. Retirement and health savings accounts must be designed with this in mind, offering strategies to extend the longevity of assets to cover these extended needs. ✅ Bridging the Gender Pay Gap Financial advisors and products should offer tailored advice for navigating and compensating for the gender pay gap, ensuring women can maximize their savings and investment returns despite earning disparities. (e.g. salary negotiation workshops, automated savings adjustments, reduced fees) ✅ Closing the Gender Wealth Gap Women face a compounded wealth gap that requires more than just equal pay solutions. Financial products need to address these gaps with targeted investment strategies, financial education, and opportunities that amplify women's financial growth. (e.g. aligning portfolios with financial milestones and challenges) ✅ Impact-focused investments Women tend to seek investments that offer both financial returns and social impact. Financial products that align with these values, offering clear insights into how investments contribute to the greater good, will resonate deeply with women looking to make a difference with their dollars. There’s a reason why women are flocking to places like Ellevest, Female Invest, Her First $100K or Girls That Invest. Because they speak women’s language. And share their vision for a more equitable society where an increasing number of women are financially free. And can therefore live life on their own terms. What else would you add to the list above? #money #femaleeconomy #sheconomy #womensupportingwomen #genderequality #genderpaygap #investing