Digital financial services have expanded opportunities for millions of women across the globe. More than 240 million more women now have an account with a financial institution or mobile money service, compared to 2014.1 Through this increased engagement in the formal economy, women’s resilience to financial, economic and health shocks is improving. 2 However, there remains much work to do to achieve gender equality in financial services. Approximately one billion women do not have formal financial services, due to persistent barriers in access to identification documents, mobile phones, digital skills, financial capability, as well as inappropriate products and more.
This report is co-authored by the Better Than Cash Alliance, Women’s World Banking and the World Bank Group, for the G20 Global Partnership for Financial Inclusion (GPFI), under the Kingdom of Saudi Arabia’s G20 Presidency.
Read the report here.