{"id":42885,"date":"2018-03-09T23:47:55","date_gmt":"2018-03-10T04:47:55","guid":{"rendered":"https:\/\/staging21.finca.org\/uncategorized-en-ca\/iwd-2018-panel-debate"},"modified":"2024-11-04T02:07:25","modified_gmt":"2024-11-04T07:07:25","slug":"iwd-2018-panel-debate","status":"publish","type":"post","link":"https:\/\/finca.org\/en-ca\/iwd-2018-panel-debate","title":{"rendered":"Panel Debates How Financial Services Can Help Close the Gender Gap"},"content":{"rendered":"

Celebrating International Women’s Day with Action<\/h2>\n

FINCA was founded with a mission <\/a>to alleviate poverty through market-based solutions. In the countries where we work<\/a>, women and girls are the most vulnerable. For this reason, women\u2019s empowerment<\/a> underpins how we think about social performance<\/a> and impact measurement, and guides our programmatic work.<\/p>\n

On March 8th, the world celebrated International Women\u2019s Day. For the third year in a row, FINCA hosted a panel debate to commemorate the occasion. The event, however, was more than symbolic. It was an opportunity for those gathered to discuss what action is needed to close the gender gap, and faster.<\/p>\n

Andr\u00e9e Simon, CEO of FINCA Impact Finance<\/a>\u2014a network of 20 community-based microfinance institutions and banks\u2014moderated the panel discussion. Joining her were Diana Biggs, Head of Digital Innovation at HSBC Retail Banking and Wealth Management, Laura Foose, Executive Director at Social Performance Task Force, and Momina Aijazuddin, Global Head of Microfinance at International Finance Corporation (IFC).<\/p>\n

How Fintech Can Help Achieve Gender Parity<\/h2>\n

\u201cTwo billion people don\u2019t have access to financial services,\u201d stated Andr\u00e9e. \u201cMore than one billion of them are women. We know that if we invest in women, we see better health and economic impact.\u201d With that opening remark, Andr\u00e9e challenged her panelists to debate the role of digital technology in expanding women\u2019s financial inclusion<\/a> and achieving gender parity.<\/p>\n

Diana was quick to point out that the shift to mobile technology has dramatically reshaped access to financial services. Momina concurred, adding that technology is clearly able to provide huge increases in gender parity. Laura took the dissenting view, cautioning that while advancements in digital technology can help, the barriers to complete equality are multifaceted. She went on to add that intentionality in approach is key. \u201cFinancial service providers must be intentional about their financial inclusion goals. This is particularly important when it comes to women,\u201d said Laura. The group agreed that financial institutions must be deliberate in how financial technology<\/a> (fintech) is used to help close the gender gap. Fintech alone will not suffice; products and services must be properly targeted and with client wellbeing at the center.<\/p>\n

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