Transforming Lives Through Women’s Financial Inclusion
Introducing the 2023 Impact Report. Women’s World Banking is a global non-profit organization with a mission to address the financial exclusion of the 1 billion women who remain underserved by the formal financial sector. For decades, financial exclusion has been a barrier to women’s economic independence, hindering their ability to access opportunities and achieve financial stability. Through partnerships with financial institutions, policymakers, and regulators, Women’s World Banking works to design and implement solutions that create systemic, long-lasting change for women across the globe. Additionally, as an investor, we support the advancement of women both in the workplace and as financial customers, ensuring they have the financial security, independence, and prosperity they deserve.
Our 2023 Impact Report shines a spotlight on our ongoing efforts to bring financial services to unbanked and underbanked women worldwide. It showcases the transformative effect our initiatives have had on the economic resilience of women in various regions, highlighting inspiring stories of women whose lives have been changed through our work. By increasing access to financial services, Women’s World Banking empowers women to control their financial futures and lift their households and communities.
Key Achievements
Since 2018, we’ve been implementing a bold, ten-year strategy aimed at bringing financial services to millions of women globally. Our goals were ambitious, but thanks to our collaborative efforts, we’ve made tremendous strides. One of our main objectives was to reach 30 million women by the end of 2023. Not only did we meet this target, but we exceeded it—reaching over 38 million women worldwide. This success is a testament to the power of partnerships, as we’ve worked alongside 205 institutions across 59 countries to drive systemic change, making financial services more accessible and inclusive for women everywhere.
Highlights from the 2023 Impact Report
Research: Understanding Women’s Needs
Women’s World Banking places great importance on understanding the specific financial needs of women. In 2023, we amplified women’s voices by engaging 10,221 women in active research. These insights ensure that our work remains focused on the real challenges women face and that our solutions address gender biases in the financial sector. By incorporating women’s feedback into every step of our initiatives, we can create more effective, tailored products and programs that meet their unique needs.
Inclusive Policy: Partnering with Regulatory Bodies
In 2023, we worked closely with six policy and regulatory bodies across six countries to develop policies that promote financial inclusion. These partnerships are crucial for creating the supportive infrastructure needed to foster systemic change. Through our collaboration with policymakers, we’re influencing the regulatory landscape to ensure that financial systems are inclusive and responsive to the needs of women, especially those who have been historically excluded.
Leadership & Diversity Programs: Elevating Women in Government
In 2023, 46 participants from 22 institutions across 18 countries participated in our leadership and diversity programs, equipping them with the skills and knowledge to become changemakers in their respective governments. These programs are designed to promote women’s financial inclusion at the policy level, ensuring that women’s interests are represented in regulatory decisions and that the gender gap in financial leadership is addressed. By fostering a new generation of leaders, we are helping to elevate women’s financial inclusion on regulatory agendas worldwide.
Relevant Products & Solutions: Expanding Access
Through our partnerships with 36 financial service providers (FSPs), we’ve been able to reach 21.6 million women with products and programs designed to directly increase their financial access and economic empowerment. These partnerships ensure that financial institutions develop relevant, gender-responsive products that meet the needs of women entrepreneurs, small business owners, and household leaders, enabling them to manage their finances more effectively and grow their economic potential.
Global Member Network: Scaling Impact Across Borders
In 2023, we welcomed 13 new FSPs from six countries into our Global Member Network, extending our reach to 22.5 million additional women. This network fosters a cross-border exchange of ideas, strategies, and best practices among institutions dedicated to women’s financial inclusion. By connecting financial institutions that share our commitment, we’re able to scale impact and drive global progress toward closing the financial inclusion gender gap.
Women’s World Banking Asset Management: Investing in Change
As an investor, Women’s World Banking plays a pivotal role in fostering diversity within financial institutions and expanding their women customer base. In 2023, we invested USD 10 million in one new financial institution. This investment supports the growth of women-focused products and services while also promoting greater internal workforce diversity within the institution, creating more opportunities for women in leadership roles.
Looking Ahead: The Future of Financial Inclusion
While we celebrate our 2023 achievements, Women’s World Banking is committed to pushing forward. Our future initiatives will focus on expanding credit access to women-led businesses, advocating for policies that support displaced women, and exploring solutions that build climate resilience for women in vulnerable communities. We are dedicated to creating a world where every woman, no matter her location or circumstance, has the financial tools and opportunities she needs to thrive.
By continuing to innovate, partner, and invest, we aim to create sustainable, long-term change for women globally. The journey toward financial inclusion for all women is ongoing, but with your support, we can make this vision a reality.
Download our 2023 Impact Report today to explore the full breadth of our work and join us in empowering women to achieve financial independence and security. Together, we can transform lives and shape a more inclusive future.
