go to top
A woman hands money to a vegetable vendor at a market in Kohima, India A woman hands money to a vegetable vendor at a market in Kohima, India, June 30, 2020 (AP photo by Yirmiyan Arthur).

Fintech Can Be a ‘Game-Changer’ for Low-Income Women

Friday, May 28, 2021

In many parts of the world, particularly in emerging markets, women are at a stark disadvantage when it comes to obtaining a loan. Studies have shown that expanding access to credit for women would spur economic growth, yet the financial gender gap remains stubbornly wide. In fact, there are more than 70 countries where women cannot even open a bank account.

According to Mary Ellen Iskenderian, president and CEO of the nonprofit Women’s World Banking, emerging financial technologies, or fintech, have the potential to revolutionize access to credit for women in low-income countries by allowing them to receive loans from their mobile phones. But in many cases, those technologies use machine learning algorithms to make credit decisions, creating their own biases that need to be addressed. ...

To read more,

enter your email address then choose one of the three options below.

Subscribe to World Politics Review and you'll receive instant access to 10,000+ articles in the World Politics Review Library, along with new comprehensive analysis every weekday . . . written by leading topic experts.