Empowering women also allows them to gain more control and financial autonomy over their lives. Through digital financial services, women can now access the same financial and business opportunities as men and gain a voice in their community.
Women have not only the potential to make a profit for themselves but of generating an additional $12 Trillion for their communities by strengthening the economy of emerging and poor countries. As new research reveals, meeting McKinsey’s new goal to “promote stronger economic growth” will lead to an increase of female inclusion in annual GDP by 2025.
All government organizations, financial companies, and global charity foundations in need of better methods for providing money transfer services to women need to take advantage of efficient digital financial services.
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Estel Technologies is developing Digital Financial Services that allow women to gain access to the digital world which will ultimately help them grow far more efficiently than branch-based banks can.
In some African countries, being able to move cash from place to place can take more than 8 hours. In developing nations, residents fall victim to crippling poverty and economic turmoil. With a solution like Micro ATM, funds can be accessed from a mobile phone without the need for traditional banking tools such as cheques or debit cards. Thus, laborers are freed from their otherwise 8-hour workday even if they only spend an average of a couple of minutes a day accessing their funds with Micro ATM.
While empowering women in developing countries could potentially boost the economy, the majority cannot conduct transactions because they are left with no say in how money is spent or saved. Digitizing will allow these people to have access to better money management tools that are currently only available through banking services.
With less than 1/3rd of the world’s population controlling 75% of global finances. Needless to say, it’s not fair. Women need equal opportunity to make their economic decisions independently and access financial information with ease because money doesn’t discriminate.