Women in Fintech: As Leaders and Users

IMF Working Papers, July 15, 2022

Source details

Digital financial services have made access to finance easier, faster, and less costly, helping to broaden digital financial inclusion, but their impact on gender gaps varies across countries.
Women leaders in the fintech industry, although growing, remain scarce.
The paper examines: (i) the role of women leaders on firm-level performance in the fintech industry; and (ii) the determinants of gender gaps in the usage of digital services to better understand cross-country differences.
Key empirical results:
- Greater gender diversity in the executive board is associated with better performance of fintech firms.
- Higher financial and digital literacy of women is associated with lower gender gaps in digital financial inclusion.
- Socio-cultural factors also play a key role in explaining gender gaps in the usage of digital financial services.

Presence and growth:
- Women leaders in fintech are increasing but remain scarce (statement from the paper).
Firm-level association:
- Greater gender diversity in the executive board is associated with better performance of fintech firms (finding reported in the paper).

Literacy:
- Higher financial literacy of women is associated with lower gender gaps in digital financial inclusion.
- Higher digital literacy of women is associated with lower gender gaps in digital financial inclusion.
Socio-cultural factors:
- Socio-cultural factors play a key role in cross-country differences in gender gaps in the usage of digital financial services.

Source: Women in Fintech: As Leaders and Users; Purva Khera, Sumiko Ogawa, Ratna Sahay, Mahima Vasishth; July 15, 2022.