Fintech sector overlooks lucrative women's market amid data gaps and bias

Singapore

WOMEN represent the world's largest and fastest growing market, controlling over 40 per cent of global wealth - or US$216 trillion - and earning US$24 trillion annually.

Yet, this segment remains largely overlooked and underserved in the financial industry, particularly in the financial technology (fintech) sector. This comes as many fintechs do not separate the data they collect by gender, which is crucial to making more gender-intelligent business decisions, according to a report from the Financial Alliance for Women (FAW).