2024: Utilizing digital tools to enhance women’s economic empowerment.

As we celebrate International Women’s Day, the potential of digital learning tools in promoting women’s economic empowerment is being highlighted by Nirri Shah from Good Return. In today’s digital age, managing finances through online platforms has become the norm for many, with physical bank visits becoming increasingly rare.

The use of banking and financial apps in Asia and the Pacific has seen significant growth, particularly accelerated by the COVID-19 pandemic. Despite this, millions of women in the region still lack access to formal financial systems and struggle to utilize digital tools. The low rates of digital and financial literacy, along with high numbers of unbanked individuals, remain major challenges.

The United Nations is calling for increased investment in women’s economic empowerment this International Women’s Day. Good Return, a non-profit organization, emphasizes the importance of providing women with access to digital financial technologies to help them manage their money effectively, expand their businesses, and contribute more actively to the economy.

Through financial literacy training programs, Good Return has already supported 65,000 individuals in enhancing their financial skills over the past 20 years. Moving forward, the organization aims to reach even more people by developing digital training tools that are accessible and user-friendly. By delivering bite-sized financial lessons through mobile apps, individuals with low financial and digital literacy can enhance their money management skills.

The organization’s success stories, such as Jhona Joy from the Philippines, demonstrate the transformative impact of digital tools on women’s financial empowerment. However, alongside promoting digital banking apps, there is a need to educate vulnerable communities on cyber safety to minimize risks associated with online banking.

Financial institutions can also contribute to promoting financial literacy and digital safety by integrating training within their banking apps and services. By understanding the unique needs of women clients and providing tailored products and services, banks can break down barriers to financial access and ultimately benefit from serving a more diverse clientele.

By leveraging the power of digital technology for women, we can drive meaningful change and promote financial inclusion in the region. Digital tools should be seen as an enabler rather than a barrier, ensuring that everyone, including women, can access and benefit from financial services.