IDB Invest has published a study on the growing financial power of the women’s market in Latin America and the Caribbean (LAC) and what that means for financial institutions (FIs). The document, with financial data from more than 240 institutions in 13 countries in LAC region, explores the extent to which women’s financial needs are being met, uncovers evidence of the business case for serving women, and identifies revenue opportunities for FIs that expand their women’s market propositions.

A market modeling conducted as part of this study (focused in three countries: Guatemala, Mexico, and Peru) revealed that the untapped annual revenue opportunity in the women’s market for FIs ranges from 1.9 billion dollars in Mexico to 0.8 billion dollars in Peru and 0.3 billion dollars in Guatemala.

The authors recommend that designing successful women’s financial products consists of applying a gender lens to all aspects of the sales funnel, meaning for example, putting in place efficient digital financial services, gender-inclusive credit processes, alternative credit scoring, targeted cross-selling initiatives, and non-financial services.