This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

New Report Finds Women Are An Underserved Market For Mobile Financial Services

Daryl Collins, co-author of the seminal work, Portfolios of the Poor, and a director at Bankable Frontier Associates, said: "This study has shown that low-income women undertake complex financial management for their households using a set of often sub-standard instruments. Women often work with high frequency, low value cash flows, which indicates a good match between the services they need and the opportunity for the mobile financial services industry to broaden and stabilize their consumer base."

To better serve low-income women, reduce the mobile phone gender-gap 1 and increase the likelihood of commercial success for mobile financial service deployments in emerging markets, the report recommends:

  • Increasing Mobile Access for Women – Thirty-four per cent of women in Tanzania, 13 per cent of women in Kenya and 10 per cent of women in Papua New Guinea who want to try mobile financial services cite the lack of a phone as the main reason for not having done so. Closing this gender gap can help MFS providers build scale and volume for their mobile financial service businesses; 
  • Increasing Awareness and Understanding of Mobile Financial Services – To benefit from the stability and scale of active women customers, providers need to research how women in their markets learn and absorb information and tailor their communications.   Investments in agent training and grassroots communications will help build awareness and more importantly, help educate women on the value of MFS;
  • Delivering a high-quality customer service offering Women tend to value convenience, reliability, security and privacy in financial management tools.  Investments in marketing, services, customer care and agent networks will enable providers to better meet these needs.  Accessible, well-trained and trustworthy agents will drive greater adoption among women and men alike; and
  • Improving Understanding of and Developing Solutions to Adoption Barriers – The research also unearthed country-specific adoption barriers that need to be addressed with targeted solutions. For example, in Kenya, the lack of an identification card is a significant issue for women. In Pakistan, low literacy levels appear to contribute to women's limited understanding of mobile financial services. Country-specific research will lead to targeted marketing approaches that can broaden the potential user base for MFS.

While mobile financial services offer value to women household financial managers, there are several markets where adoption has been slow for both genders. Although barriers to adoption certainly vary by market, women in a given market tend to experience similar and yet more acute challenges than men, meaning a focused effort on women can also improve male adoption as well.

2 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,040.58 -11.15 -0.07%
S&P 500 1,973.63 -4.59 -0.23%
NASDAQ 4,424.7040 -7.4420 -0.17%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs