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Collective intelligence workshops to boost financial inclusion for women
What it does. The collective intelligence workshops implemented with the fintech ecosystem to include the gender approach within their value proposition has given more visibility to women working within the Colombian Fintech ecosystem, a sector traditionally dominated by men. This approach not only recognizes the contribution of women in this field, but also promotes greater female representation. Secondly, the inclusion of this approach will generate solutions that identify and address the specific needs of women and girls, fostering their financial inclusion and economic autonomy. This includes the development of financial products and services designed with a gender perspective, ensuring that Fintech solutions effectively respond to the barriers faced by women. Lastly, this will establish good practices for the development and advocacy of public policy in the Fintech ecosystem, including a gender approach.
Value proposition for the government/other partner. This tool allows our allies as the private sector association of Fintech in Colombia to recognize gender as a fundamental strategic and methodological enabler to transform realities and offer financial solutions that significantly contribute to the transformation of women’s lives, integrating them as key actors in human development. By focusing on the needs and potential of women, Fintech solutions can play a crucial role in their economic and social empowerment.
Why and when to use it. This tool is more useful during the consolidation of the Fintech ecosystem, with a focus on promoting companies led by women or that address their specific needs. Also, in times of debate about the regulation of Fintech verticals, where it is crucial to position the gender approach to influence the formulation of public policies. Lastly, in the context of the 2030 Agenda, promoting actions that promote women’s economic autonomy through financial inclusion, aligning these initiatives with the Sustainable Development Goals.
Known issues and troubleshooting. To effectively implement this approach, the following is required: (i) Organizational commitment to gender equity at all levels, from senior management to operational teams, (ii) gender analysis to identify gaps, needs and specific opportunities within the Fintech sector and among potential users, (iii) gender capacity building for the staff of the vertical, ensuring that they understand and can implement inclusive practices and (iv) collaboration with stakeholders including women’s organizations, gender experts and regulators to design and implement effective solutions.
Context. This approach is implemented in a context where the Fintech sector is expanding and recognizes the need to be more inclusive and equitable. In countries like Colombia, where the gender gap in access to financial services and representation in the technological sector persists, the integration of a gender approach is both a strategic opportunity and an ethical imperative. Implementing these practices not only benefits women and girls, but also contributes to sustainable growth and innovation in the financial sector.
Cost. The cost of the collective intelligence sessions are approximately USD 1.000, for the development and organization od the events. As for UNDP personnel, at least 3 persons have supported the process.
People.
- Innovative financing advisor: Gives strategic advice for the design and implementation of the collective intelligence process and guarantees coherence and value to the broader fintech agenda.
- Technical expert on innovation and fintech: Supports the design and implementation process of the collective intelligence sessions and supports implementation and coordination with the fintech ecosystem.
- Technical expert on Gender: Leads the thematic focus and the development of a gender value proposition for the fintech ecosystem.
Focal point. Lina Fernandez, Diana-Gonzalez, and Diana-Muñoz.
Country, year, and language. Colombia, 2024, Spanish.
Resources.