Why Women Are Core to a Fintech Future

Gender inequality has stopped many women from having financial independence or founding their own businesses.

Date: 15 December 2021
Author: Ximena Aleman

Gender inequality has stopped many women from having financial independence or founding their own businesses. Women still earn less, have limited access to bank loans and credit, and 1.1 billion women are cut off from financial services altogether.

Fintech companies have been trying to complete the puzzle, but it remains unfinished since 49.8% of the pieces – women – have remained unseen. Only when fintech companies and financial institutions provide financial solutions for that customer segment will we see further innovation.

The McKinsey Global Institute report gives a glimpse of the future benefits – that achieving women’s equality could add $12 trillion to global growth.

The future of fintech is female, and here is why it matters.


Historically, the fintech industry has been male-dominated and has failed to understand women’s needs. Consequently, 73% of women are unsatisfied with their financial services. It’s up to women to change this.

We have to start questioning how this financial world is structured, particularly regarding services for women who are still not considered a target market, despite making or influencing 80% of household purchasing decisions globally.

Experiencing these problems firsthand, female fintech leaders will bring unique perspectives to the fintech space and make the right products for women.

For instance, in the lending space, they will have insights on how to process credit scores differently using data other than credit calcification to reach different customer segments, including minority groups and those with disabilities.

“An investment in knowledge pays the best interest,” said Benjamin Franklin. If a woman is financially literate and given the correct tools, she’ll build good spending habits and make better decisions.

And when fintech companies target women as a customer segment and give them better financial services, this can improve employment outcomes, wealth accumulation, and propensity to start a business.


Women have gained agency over the last two decades due to 21st-century activism, and they are starting to fill up the chairs in meeting rooms. Now, even if one woman is in a room with six male fintech leaders, this is a huge achievement since they were previously excluded from the patriarchal financial system.

I think to myself: ”At least there is one of us. If I wasn’t there, would I be replaced by another man?”

In Latin America, for example, there are five times as many female-founded fintechs as the global average, possibly due to the vast opportunity and demand there is to help the unbanked population.

A McKinsey study uncovered that companies with the greatest number of women in top management had a 41% higher return on equity than the average. This is because women bring different social skills and fresh perspectives to the table and hire diverse teams.

Therefore, having more female fintech leaders is more than just closing the gender gap, it could increase companies’ ROI dramatically.

Female leaders often face inequalities when it comes to fundraising, so they are disadvantaged from the get-go. However, women-owned businesses are actually a better bet for financial backers. Businesses founded by women ultimately deliver higher revenue – more than twice as much per dollar invested – than those founded by men.

We are only in the first chapters of the revolution of financial services for women, and female-founded companies are merely surfing the wave of fintech growth.

It will be a long ride, but women are already grabbing the steering wheel and starting to shape the future of fintech.

Ximena Aleman, Cofounder & Co CEO at Prometeo OpenBanking

A believer in communication as a strategic tool for technology. Ximena is dedicated to developing new businesses, creating solutions, tools and channels, connecting products and users. Ximena’s currently the Co-founder and Co CEO at Prometeo OpenBanking, with a previous career history in marketing, project management, and fintech.
Visit to learn more….  https://prometeoapi.com/


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