Deconstructing the Monolith: Segmentation of Women Clients
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The path to women's financial inclusion has been made difficult by the persistent, but often misguided idea that women tend to have uniform wants and needs. However, women are not a monolith and meeting their financial needs requires developing a nuanced understanding of their preferences and behaviors, which are shaped by age, life stage, location, and contexts, among many other factors.
FinEquity will be featuring Financial Service Providers (FSP) that are using innovative ways to learn and respond to women's differentiated needs and preferences as a key to growing their market share and achieving business goals. Through a series of fast-paced, in-depth conversations, we will hear about their successes, failures, and lessons learned as well as any advice they have for other providers who may not be convinced about the opportunity and need to take a segmented approach to serve the women's market.
BBVA Microfinance Foundation and partners in Latin America
Join us for the first conversation to hear from BBVA Microfinance Foundation about how its affiliates in Colombia, Peru, Panama, and the Dominican Republic have segmented and analyzed the specific needs and preferences of the more than 1.5 million women entrepreneurs they serve in the Latin American and Caribbean region by offering tailor-made products and increasing the value proposition of the products available. By segmenting their women’s market based on life stage, geographical context, and economic profiles, BBVAMF affiliates were able to develop specialized products that range from health insurance for women’s wellness visits to alternative collateral-based loan products for women in agri-business. In this fast-paced conversation, we will delve into the how and the why of this approach as well as the lessons learned, and the challenges encountered in this journey of delivering financial solutions to women.
Laura Fernández Lord
Laura Fernández Lord currently serves as Head of Women’s Economic Empowerment at BBVA Microfinance Foundation (FMBBVA). She has a BA in Economics and holds an MA in International Relations at SAIS, Johns Hopkins University. She has also worked at the FAO, the Inter-American Development Bank, the Spanish Cooperation Agency, and Fundación Lealtad. Laura has participated in several women’s financial inclusion fora such as the: UN CSW, UN SG High-Level Panel on Women Economic Empowerment, the OECD Gender Netfwd or Gendernet.
Nisha Singh, FinEquity's Gender-Transformative Solutions Thematic Lead. She has over 17 years of experience promoting access to finance and financial market systems development, with a focus on women’s economic empowerment and inclusion. Nisha worked at The SEEP Network from 2008 and 2016 to promote inclusive market systems development by building partnerships across the 120+ SEEP member organizations and associated stakeholders. Since 2017 her work has focused on increasing economic opportunities for women through innovations in financial services as well as gender mainstreaming for private sector actors. Nisha has a master’s degree from the School of Social Policy at the University of Pennsylvania, and an MBA from the University of Hyderabad.