InvestXD: Putting women’s investment needs at the centre
InvestXD: Putting women’s investment needs at the centreAugust 24, 2018 •
InvestXD created a digital investment platform for women and youth
Understanding drivers of usage for financial products and services is important for (long-term) savings, as few youth and young adults save, and even fewer do so through formal financial services institutions. There is also a significant gender gap, as is the case with other financial products. The low uptake and usage of formal savings products are largely due to the current offering simply not being attractive, user-friendly and flexible enough to meet young adults’ needs. While many financial products are envisioned to be gender neutral in design, men and women do engage differently with financial products and services, and there is a need for the financial sector to acknowledge this in the design of their products.
InvestXD has developed a platform for long-term savings (in the form of investments) that targets young adults in Ghana. Through a mixed-method approach to analysing their unique collection of client data, they have uncovered specific investment preferences that women have, such as goal-setting. They are meeting these preferences in client-centric ways that deliberately play into the unique ways that women engage with financial services.