To celebrate Women’s World Banking’s 45th anniversary, we are showcasing the voices of individuals from around the world who have shaped and touched Women’s World Banking journey since its inception in 1979 at Commission on the Status of Women to today!
These are stories from across Women’s World Banking’s reach from the women we serve and our customers, to allies and women in leadership who have contributed to women’s economic empowerment and financial inclusion.
Meet Sreyna Chab, a migrant worker from Kampong Cham province in Cambodia. Like many others in the region, she moved to Thailand in search of better opportunities, drawn by the hope of earning more to meet her family’s needs. She has been working in a garment factory in Thailand for the last seven years now.
After traveling to Thailand without proper documentation with her husband, the early years were filled with uncertainty.
“It was hard to stay here at first as I did not speak the language. I didn’t even dare to go out to buy food”. It took two years for her to obtain legal documents, but even with her new status, the financial pressures persisted.
Sreyna’s monthly salary barely covered her expenses. She needed to support herself and her husband in Thailand and also send money back home to Cambodia, where her two young children live with her aging parents. “Being able to survive each month is good enough for us.” But sending money back to her family was fraught with challenges”
For years, Sreyna relied on informal remittance channels. These services, though recommended by her co-workers, were unsafe and unreliable. The World Bank estimates that in many developing countries, informal remittance channels account for up to 50% of total transfers. “I lost my money twice through informal remittance services,” Sreyna recalls. The pain of losing hard-earned money was devastating, especially when there was no way to recover the funds. “It was unsecured and risky.” Some of those informal channels said they didn’t receive any money despite Sreyna providing details of the transfer.
The Shift to Digital Remittance Services
Over USD $2.9 billion is sent home annually by 1.35 million Cambodian migrant workers in Thailand. 50% of these workers are women.
Sreyna and many women like her no longer have to rely on risky, informal channels. She now uses an e-wallet card that allows her to send money home quickly and safely.
“Using this formal service is easy because I don’t have to call back and forth, and the fee is way cheaper. In short, it is safe, cheap, and quick.”
The convenience of digital services has transformed how Sreyna manages her finances. With just a few clicks, she can ensure that her family in Cambodia receives the money they need. “The transaction fee is only 99 Baht (USD 2.7), and within five minutes, my family can get the money,” she explains. It’s a far cry from the risky, expensive methods she used before, where she would wait two or three days for confirmation—and sometimes lose the funds altogether.
According to a 2021 report by the World Bank, the cost of sending remittances through formal digital channels is about 5.1%, compared to traditional services, which can cost up to 10%. This shift to affordable digital platforms is crucial for low-income families like Sreyna’s, as it ensures their earnings go directly to the people who it is intended for.
“It gives my family peace of mind, knowing that they can get money instantly for emergencies, especially is my child gets sick in the middle of the night.”
Why Access to Digital Financial Services Matters
Sreyna’s journey highlights a critical need: access to safe, affordable, and convenient financial services for women, particularly those in low-income or migrant communities. It is estimated that globally, women make up 53% of the unbanked population, and in regions like Southeast Asia, that figure is even higher.
Digital financial services don’t just provide a more secure way to send money—they also empower women to take control of their finances, reduce dependency on unreliable networks, and avoid unnecessary fees. Sreyna’s story is a powerful example of how technology can create greater economic equality, new opportunities and a better future for women everywhere.
“[This solution] also helps me save more money to fulfill my wish… to return to my hometown, start a small business and live closer to my children.”
It is stories like Sreyna’s that inspire us every day. We hope she inspires you too.
Women’s World Banking is dedicated to economic empowerment through financial inclusion for the nearly one billion women in the world with no or limited access to formal financial services. Using our sophisticated market and consumer research, we turn insights into real action to design and advocate for policy engagement, digital financial solutions, workplace leadership programs, and gender lens investing.
As part of our current strategy, we’ve helped provide 37 million women in emerging markets – targeting 100 million by 2027 – access and use of financial products and services that are transforming women’s lives, households, businesses and communities, and driving inclusive growth globally.
Help us reach the nearly billion women still excluded from the formal financial system. Donate now.
